Dragica Pilipovic-Chaffev

It must be one of the toughest jobs in Russia.

In early 2000, Dragica Pilipovic-Chaffev took over as country head of the EBRD in its unassuming headquarters just off Novy Arbat in central Moscow. With a poor record of investments in Russia, and having lost out heavily in the 1998 debacle, the bank’s management decided to be more vigilant.

Pilipovic-Chaffev is tasked with carrying out that wish.

Relaxed and chatty, Pilipovic-Chaffev comes across as a favourite university professor, but has a reputation for being tough and straight talking.