LONDON (Reuters) - Mikhail Fridman's LetterOne (L1) fund has appointed former trade minister Mervyn Davies as non-executive deputy chairman, a spokesman said on Friday.
"He is in an ideal position to ensure L1 has the highest standards of governance and business practice. This will be a priority area for him," the spokesman said.
Davies, a Labour Party member of the House of Lords, served as minister of state between 2009 and 2010 and was previously chief executive and chairman of Standard Chartered bank.
(Reporting by Karolin Schaps; editing by David Clarke)
Mikhail Maratovich Fridman is a Russian entrepreneur and businessperson who founded Alfa Group, Genesis Philanthropy Group, Alfa-Foto Cooperative and LetterOne Holdings SA and who has been at the helm of 7 different companies. Presently, he holds the position of Chairman for LetterOne Holdings SA and Chairman-Supervisory Board for Alfa Group. He is also Member of Public Chamber of Russian Federation and Member-Management Board at The Russian Union of Industrialists & Entrepreneurs and on the board of 8 other companies. In the past Mr. Fridman held the position of Chairman at Letterone Investment Holdings SARL, Executive Chairman & Chief Executive Officer for RN Holding OJSC, Executive Chairman & Chief Executive Officer at TNK-BP Ltd., Chairman at Alfa Finance Holdings AD, Chairman of Genesis Philanthropy Group and Member-Management Board at Council on Foreign Relations, Inc. He received an undergraduate degree from Moscow Institute of Steel & Alloys.
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Alfa Group
 Alfa Group Regional BanksFinance Alfa Group operates as a financial-investment conglomerates. Its businesses include financial services, investment, retail trade, water utilities, and mineral water production. The company was founded by Mikhail Maratovich Fridman, German Borisovich Khan, and Alexey Kuzmichev in 1989 and is headquartered in Moscow, Russia. | Founder |
| Russian Jewish Congress | Founder |
