The National Bank has a new First Deputy Governor: Serhiy Nikolaichuk heads the financial stability direction

The Council of the National Bank of Ukraine has appointed Serhiy Nikolaichuk as the First Deputy Governor of the National Bank. The corresponding candidate was proposed by NBU Governor Andriy Pyshnyi at a meeting on August 15, 2025. This was reported by the NBU, writes UNN.

DetailsIn his new position, Nikolaichuk will head the “Financial Stability” vertical, and temporarily – “Monetary Stability”. At the same time, Kateryna Rozhkova ceases to perform the duties of First Deputy due to the expiration of her term of office. The National Bank will begin the search for a candidate for the vacant position of Deputy Governor.

Andriy Pyshnyi thanked Rozhkova for her many years of work and congratulated Nikolaichuk on his appointment.

The Board of the National Bank is solving extremely complex tasks in unprecedented conditions. The financial system works like clockwork even during a full-scale war – this is the result of the daily painstaking work of the entire team. The new structure of the Board will strengthen our institutional capacity and ability to respond to modern challenges

The Board of the National Bank, in accordance with the law, consists of seven people: the Governor of the NBU, the First Deputy, and five Deputy Governors, all of whom are members of the Board and ensure the strategic management of the country’s banking system.

For referenceSerhiy Nikolaichuk has held the position of Deputy Governor of the National Bank of Ukraine since July 2021, overseeing the “Monetary Stability” block.

His career at the NBU began in 2004, and by 2019 he rose from economist to director of the Monetary Policy and Economic Analysis Department.

From September 2019 to April 2020, Nikolaichuk worked as Deputy Minister of Economic Development, Trade and Agriculture of Ukraine. Then, from April 2020 to July 2021, he headed the Macroeconomic Research Department of the ICU group.

In addition to his practical activities, he is an honorary professor of practice at the Kyiv School of Economics and teaches at Taras Shevchenko National University of Kyiv.

Nikolaichuk graduated from KNU in 2004 with honors, earning a master’s degree in economics. In 2008, at the same university, he defended his dissertation on “Modeling the transmission mechanism of monetary policy in Ukraine” and received a Ph.D. in economics.

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