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Son of VTB Head Kostin dies in a traffic accident

04 July 2011 10:53 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Andrey Kostin, a banker at Deutsche Bank AG and the son Andrey Leonidovich Kostin, chairman and president of VTB Group, died in a traffic accident over the weekend, APA reports citing k2kapital.com portal.

Kostin, 32, died in a traffic accident in Russiaâ€™s Yaroslav region. Deutsche Bank confirmed his death, the news service said.

Kostin, who joined Deutsche Bank in London in 2000, had been a managing director in Deutsche Bankâ€™s corporate and investment banking division and deputy chairman of the management board in Moscow, according to the companyâ€™s website.

His father, also called Andrey, headed VTB Group, Russiaâ€™s second-biggest lender, since 2002.

â€œWe have lost not only one of the bankâ€™s employees,â€ Deutsche Bankâ€™s Russian Chief Country Officer IgorLojevsky said in a statement printed in Vedomosti. â€œWe have lost one of our closest friends.â€