Budanov Takes the Helm: Can the New Head of Bankova Deliver?

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The appointment of Kyrylo Budanov as head of the Presidential Office has raised immediate questions: while his background as intelligence chief explains the secrecy, very little is publicly known about him — a surprising gap for someone now occupying one of the country’s most powerful civilian positions.

Some information could be obtained from his electronic declaration, but there is no publicly available record of him on the NACP website. As a result, even a minimal dataset for analysis is missing.

However, the key question is different: which position does Volodymyr Zelenskyy intend to assign to Kyrylo Budanov — head of the Presidential Office or the role previously held by Andriy Yermak?

It is worth recalling that, nominally, the position of head of the Presidential Office is, in fact, largely secretarial. It is never mentioned in the laws on public administration and, accordingly, does not confer the authority to make decisions or exercise political influence. The main task of the head of the Office is to provide organizational support for the President’s work. This position does not carry any other powers.

By contrast, the position of head of the GUR is endowed by law with specific, clearly defined powers. From this perspective, transferring the head of the GUR from a real, substantive role to the formally “virtual” position of head of the Presidential Office would appear as a demotion. Legal definitions alone do not capture the full significance of the move

The only real value of the head of the Presidential Office lies in direct access to the President. It is this access that opens the door to influencing presidential decisions behind the scenes, and, through them, the entire state administrative apparatus. Society’s criticisms of Andriy Yermak were not about his improper use of the formal powers of the Office. The main issue was that, despite holding virtually no formal authority, he effectively became the number two figure in the state administration system.

Volodymyr Zelenskyy’s rationale for potentially appointing Kyrylo Budanov is easy to explain. Both enjoy high electoral ratings, and in the event of a hypothetical election campaign, there is hope that these ratings could bolster a single candidate. Budanov could also strengthen Zelenskyy’s negotiating position. Zelenskyy has consistently demonstrated a preference for having a “vice president”-type figure rather than a mere secretary in this role.

The central question remains: what motivates Kyrylo Budanov himself?

On the eve of the meeting, Ukrainian President Volodymyr Zelenskyy met with Kyrylo Budanov and offered him the position of head of the Office of the President. The purpose of the appointment is to increase attention to security, the development of the Defence Forces, and the diplomatic track in negotiations. Later, it became known that Budanov accepted Zelensky’s offer to head the Bank. He stated that he continues to serve Ukraine and considers the new position as another level of responsibility to the country.

Budanov was appointed on January 2, 2026, following the resignation of Andriy Yermak, who left office in November amid a corruption scandal. His dismissal created a long personnel pause and deprived the president of a key political coordinator during a sensitive period of negotiations to end the war with Russia.

Western journalists consider this decision to be key in view of possible negotiations with the United States and Budanov’s role in the dialogue with the American side. The New York Times emphasizes that the appointment of Kyrylo Budanov to the position of head of the Office of the President of Ukraine was highly appreciated by the international media . Experts emphasize his strategic role in diplomatic and security processes, as well as close and long-standing contacts with the United States.

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