Sanctioned Russian Billionaires Resign From Alfa-Bank Owner

Mikhail Fridman and Petr Aven, two of the billionaires behind investment firm LetterOne, have resigned from the owner of one of Russia’s biggest banks in the fallout from the war in Ukraine.

Fridman, 57, and Aven, 66, stepped down as directors of Alfa-Bank parent ABH Holdings, according to a March 3 registry filing, days after the European Union imposed sanctions on the pair.

Mikhail Fridman

Photographer: Mikhail Japaridze/TASS/Getty Images

LetterOne Chairman Mervyn Davies, 69, and UniCredit SpA executive Andrea Maffezzoni, 49, resigned the following day from Luxembourg-based ABH, which is partly owned by the Italian bank and counts Fridman as its largest ...