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Nikola Bakalov

Mr. Nikola Bakalov has extensive experience in the banking and insurance sector in Bulgaria, combined with proven professional and managerial skills. From December 2000 to September 2011, he worked at First Investment Bank AD, taking increasing responsibilities from Card Services Specialist to Director of the Card Payments Department, which position he held for almost 6 years. During this period, he was also elected as member of the executive committees of Mastercard Bulgaria and VISA Bulgaria.

In the period December 2011 - August 2012, Mr. Bakalov was member of the Managing Board of Allianz Bank Bulgaria AD, where he served as Executive Director, and subsequently as Chief Executive Officer.

From 2013 to August 2020, Mr. Bakalov was Executive Director of FiHealth Insurance AD, where he gained significant experience in the insurance activity.

At the beginning of 2020, he was elected as Chief Retail Banking Officer (CRBO), Member of the Managing Board and Executive Director of First Investment Bank AD, responsible for the retail banking business lines within the Bank.

Since April 2020 Mr. Bakalov has been elected as Chief Executive Officer (CEO) and Chairman of the Managing Board of First Investment Bank AD.

Responsibilities in the Bank – Legal Department, Corporate Communications Department, Marketing and Advertising Department, Human Capital Management Department, Administrative Department, Problem Assets Department, Asset Management Department and Protocol and Secretariat Department.

Mr. Bakalov holds a Master’s degree in International Economic Relations from the University of National and World Economy in Sofia, and has additional specializations in card payments, finance retail services and corporate governance.

Apart from his position at the Bank, Mr. Bakalov is Deputy chairman of the Board of Directors of FiHealth Insurance AD, Member of the Board of Directors of BORICA AD, Member of the Management Board of Association of Banks in Bulgaria, Manager of International Banking Institute EOOD and Member of the Trustees Council of the University of National and World Economy (UNWE).

Svetozar Popov

Mr. Svetozar Popov joined First Investment Bank AD in 2004 as part of the Risk Management Department, and was shortly thereafter promoted to Head of the Credit Risk Division. From 2006 to 2008 he was Deputy Director of Risk Management, during which period he also chaired the Bank's Credit Council. From 2016 to 2017, Mr. Popov held the office of Chief Compliance Officer (CCO), and in May 2017 he was appointed as Chief Risk Officer (CRO), Member of the Management Board and Executive Director of First Investment Bank AD.

From 2008 to 2015, Mr. Popov was member of the Managing Board and Executive Director of UNIBank AD, Northern Macedonia, where he gained significant management experience and was responsible for the areas of risk management, credit administration, and finance. Prior to joining First Investment Bank AD, Mr. Popov worked at Raiffeisenbank (Bulgaria) EAD as an SME loan officer.

Mr. Popov holds a Masters degree in Finance from the University of National and World Economy in Sofia, and has obtained additional qualifications in the field of financial analysis from the European Bank for Reconstruction and Development (EBRD) and other internationally recognized institutions, as well as practical experience in foreign banks.

In the Bank he is responsible for the Risk Management Department, the Loan Administration Department, Security Department and Information Security Department.

Besides his position in the Bank, Mr. Popov is a Chairman of the Supervisory Board of UNIBank, Republic of Northern Macedonia, Chairman of the Board of Directors of MyFin EAD and a Manager of Debita OOD.

Ralitsa Bogoeva

Ms. Ralitsa Bogoeva has been Chief Retail Banking Officer, Member of the Managing Board and Executive Director of First Investment Bank AD since May 2020. She has extensive professional experience in various fields of banking.

Ms. Ralitsa Bogoeva joined the team of First Investment Bank AD in 2002 as a Retail Loan Officer and a year later was promoted to Deputy Director of the Retail Banking Department, a position she held for eight years. From 2011 to 2018 she was Director, Internal Audit of Fibank. From June 2018 to 2020, Ms. Bogoeva held the position of Chief IT and Operations Officer at the Bank. During her professional career, Ms. Bogoeva has managed various projects in the fields of finance, the development and administration of products for individuals and businesses, as well as innovative projects in the field of information technology and digitalization of banking.

Ms. Bogoeva has a Master's degree in Accounting and Control from the University of National and World Economy in Sofia, as well as a number of additional qualifications in the areas of banking, international auditing standards, planning and project management.

Responsibilities in the Bank – Retail Banking Department, Private Banking Department, Card Payments Department, Branch Network Department, Organisation and Control of Customer Service Department, Gold and Commemorative Coins Department, the Vault.

In addition to her position in the Bank, Ms. Bogoeva is a member of the Board of Directors of MyFin EAD and a member of the Supervisory Board of UNIBanka AD, Northern Macedonia.

Yanko Karakolev

Mr. Ianko Karakolev was elected Chief Financial Officer (CFO) and Member of the Managing Board of First Investment Bank AD in June 2020. He is a longtime financial analyst and staff member of First Investment Bank AD.

Mr. Karakolev joined the Bank's team in 1999 as an accountant-controller in the Financial and Accounting Department and soon became Director of the Internet Branch. In the period 2002-2007 he was promoted from Head of the Financial Statements, Analyzes and Budgeting unit to Deputy Chief Accountant. After that, until 2011, he held the position of Deputy Director of the Finance and Accounting Department. From 2011 to 2014 he was Chief Financial Officer and Director of the Finance and Accounting Department, and in the period 2014-2020 was Director of the Finance Department. During his professional career, Mr. Karakolev has participated in the management of many innovative projects contributing to the implementation of international standards and the development of banking, as well as in corporate actions such as the acquisition of MKB Unionbank and its subsequent merger with First Investment Bank AD.

Prior to joining the team of First Investment Bank AD, Mr. Karakolev worked at Bulgarian Commercial and Industrial Bank AD as an accountant. He holds a Master's degree in Finance from the University of National and World Economy in Sofia and has professional certificates and qualifications in the fields of international financial and accounting standards, the European regulatory framework on banking and reporting, management and business planning.

Responsibilities in the Bank – Finance Department, Accounting Department, Treasury Department and Intensive Loan Management Department.

In addition to his position in the Bank, Mr. Karakolev is a member of the Steering Council of First Investment Bank - Albania Sh.a. and member of the Supervisory Board of UNIBanka AD, Northern Macedonia.

Vladimir Ikonomov

Mr. Vladimir Ikonomov was elected Chief Digital Development Officer and member of the Management Board of First Investment Bank AD in March 2025. He has professional experience in auditing, strategic project management, and implementing innovative solutions in banking practice in the field of information technology and digital banking.

Mr. Ikonomov joined the team of First Investment Bank AD in 2010 as an expert in the Internal Audit Department, and in 2014 he was promoted to Head of Department. His professional development includes the positions of Project Manager in the Strategic Planning and Development Department and Head of the Project Activities Organization and Control Department. In the period 2020 - 2025, Mr. Ikonomov was Director of the Digital Banking Department. Over the years, Mr. Ikonomov expanded his professional and managerial skills managing numerous projects in the field of operational audit, specialized systems for the purposes of audit processes, information security, development of technological channels in the banking sector, and digital banking.

Mr. Ikonomov holds a Master's degree in International Economic Relations from the University of National and World Economy in Sofia, and a Master's degree in Information Security in Computer Systems and Networks from the Faculty of Mathematics and Informatics at St. Kliment Ohridski University in Sofia. He has professional certificates and qualifications in the field of project management, IT processes and change management, relational databases, machine learning, as well as practical experience in financial and fintech institutions.

His responsibilities in the Bank include the Digital Banking Department, the Information Technology Department, the International Market Development Department, and the Project Management team.

Anton Petrov

Mr. Anton Petrov was elected as a member of the Management Board of First Investment Bank AD in March 2025. He is a lawyer with professional experience in European and international law in the financial sector.

Mr. Petrov joined the team of First Investment Bank AD in 2017 as a legal advisor, International Legal Relations, in the Legal Department. His professional development went through the positions of Team Leader and Deputy Director of the Legal Department, and in March 2023 he was elected Chief Compliance Officer.

Before joining the team of First Investment Bank AD, Mr. Petrov worked as a consultant at PricewaterhouseCoopers Bulgaria EOOD and as a senior expert at the Ministry of Regional Development and Public Works, where he gained experience in international projects, in management of programs related to the European Structural and Investment Funds, and in coordination of the risk assessment function.

Mr. Petrov holds a Master’s degree in Law from the University of National and World Economy in Sofia and a Master’s degree in Finance, Banking and Real Estate from the American University in Blagoevgrad and SDA Bocconi School of Management. He has additional specializations in Risk Management in Banking and Financial Markets from the Indian Institute of Management Bangalore; and in Corporate Financial Analysis from the Ross School of Business at the University of Michigan, USA. In 2019, Mr. Petrov was included in the list of leading corporate counsel in Central and Eastern Europe (Legal500 CEE GC Powerlist), and in 2021 he was among the four nominees in the Rising Star category at the European Counsel Awards in London.

His responsibilities in the Bank include the Compliance - Regulations and Standards Department, the Compliance - Prevention of Money Laundering and Terrorist Financing Department, the Sustainable Development Department, the Financial Institutions and Correspondent Relations Department, the Investor Relations Department, and the Asset Valuation team.