Ukrainian President Petro Poroshenko has tapped founder of Kyiv-based ARTA investment company Tymur Khromaev to head the National Securities and Stock Market Commission.

A respective decision is sealed in presidential order No. 50/2015 dated January 30, 2015, which was posted on the president's official website on Friday.

Under the decree, Yuriy Butsa, Ihor Nazarchuk, Oleksandr Panchenko, and Dmytro Tarabakin were appointed new commission members.

Former commission head Dmytro Tevelev and former commission members Anatoliy Amelin, Oleh Mozgovy, Yevhen Voropayev, Oleksiy Tarasenko and Oleksiy Petrashko were dismissed under presidential orders Nos. 44/2015-49/2015.

Nazarchuk belonged to the former commission's members.

Khromaev is a co-founder of ARTA investment company, according to the corporate website. He manages investment banking, corporate finance, brokerage and asset management departments. Prior to co-founding of ARTA in 2002, Khromaev was deputy chairman of the board at TAS-Invest Bank where he supervised the investment banking and corporate finance departments. Before joining TAS-Invest Bank, Khromaev served as deputy chairman of the board at another Ukrainian bank – NRB-Ukraine, where he was responsible for management of the bank's treasury and the corporate finance department. From 1997 to 2001, Khromaev held top ranking positions at the Ukrainian Finance Ministry, namely he headed the capital markets development department.

Nazarchuk specializes in civil, banking, finance and corporate law, investments and securities, according to the corporate website of the Vasko & Nazarchuk law firm.

Tarabakin is a Managing Director (Sales and Trading) at Kyiv-based Dragon Capital investment company. In 1995, after graduating from Kyiv-Mohyla Academy, with a degree in Economics, and completing a one-year Economics and Finance program at Roosevelt University in Chicago, he joined KPMG Barents Group to set up the PFTS, Ukraine's first stock trading system. From 1997 to 2000, he worked as a senior stock trader in Kyiv and Warsaw with Wood & Co., the region's leading brokerage house. Tarabakin joined Dragon Capital in 2000.

Butsa is a son of the former First Deputy Defense Minister of Ukraine (March 2014 through September 2014), Bohdan Butsa, who earlier served as the Minister of the Cabinet of Ministers in Yuriy Yekhanurov's government (September 2005 through August 2006). Prior to that, Bohdan Butsa held high-ranking positions at Ukraine's State Property Fund.

Panchenko previously worked as director for Kyiv-based Troika Dialog Ukraine asset management company and pension funds administrator. He was responsible for management of assets belonging to private clients, private pension funds and collective investment institutions. He was also in charge of administration of private pension funds.

Prior to Troika Dialog Ukraine, he worked for Kyiv-based Millennium Capital investment group in different positions, ranging from CFO to General Director of Millennium Asset Management.