 On 12 April 2011, president of the Bank of Moscow Andrey Borodin and his senior vice-president Dmitriy Akulinin were dismissed from their posts by court (ruling) for the period of the investigation in the CJSC Premier Estate case.The board of directors of the Bank of Moscow appointed Mikhail Kuzovlev as acting president of the Bank of Moscow.On 21 April 2011, an extraordinary meeting of the shareholders elected Mikhail Kuzovlev as president of the Bank of Moscow by a majority vote.