The National Bank of Ukraine (NBU) will include foreign expert Axel Stefan Sauer (a German citizen) in its risk management department.

"Axel Stefan Sauer will work in the NBU risk management department. He will advise on specific narrow issues, being a chief specialist," the press service of the regulator said, noting that he will not be listed as being in public service.

Sauer will start working September.

"Unfortunately, the NBU cannot offer him a salary which would meet European standards. Therefore foreign organizations will rent an apartment for him and pay the bulk of his compensation package," the regulator said.

Sauer has over 20 years of experience in financial institutions, including 12 years experience in the banking sector: specifically banking market financing and investment, treasury, risk management, portfolio management.

Since 2012, he has been a consultant on local financing and capital market at the European Bank for Reconstruction and Development (EBRD).