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Members of the Board of Directors

MDM Bank's Board of Directors determines the Bank’s policies in order to ensure stability, transparency and reliability. Board Members are experts in their fields, who have global expertise and experience in leading prominent financial institutions in Russia and other countries. Many are members of international financial associations and organizations.


Oleg Viyugin

Before joining the MDM Bank Board of Directors in 2007, Oleg headed the Federal Financial Markets Service of the Russian Federation, a position he had held since 2004. Between 1999 and 2002 he was executive vice-president at Troika Dialog, Russia’s oldest investment company. Oleg has also held a variety of senior positions within the Russian government, including first deputy minister of finance, first deputy chairman of the Central Bank of Russia, and extraordinary advisor to the prime minister of the Russian Federation. After graduating from the department of mechanics and mathematics at Moscow State University in 1974, Oleg successfully defended his PhD in physics and mathematics at the same university in 1977.

Sergei Popov

Sergei joined the MDM Board of Directors in 2002, before which he sat on the boards of several blue-chip Russian companies, including RAO UES of Russia, Piping Metallurgy Company (TMK), Eurochem, and MDM Industrial Group, a group which he co-founded in 2000. In 1997, Sergei co-founded Trading and Industrial Group MDM, where he took a senior role in strategy development until 1999. Prior to his work at Trading and Industrial Group MDM, Sergei was a partner and commercial director at OOO Prodcontract Company. After graduating from Urals State Technical University with a major in heat power engineering in 1993, Sergei became a partner in the Urals-Siberia Trading and Industrial Company (USTPK), which specialized in energy and pipe trading as well as supplying raw materials to Russian metallurgical plants. Sergei also currently sits on Board of Directors at SUEK, Russia’s leading coal supplier.

Igor Kim

Following announcement of the planned merger between MDM Bank and URSA Bank in December 2008, the MDM Bank board of directors appointed Igor CEO at MDM Bank, and appointed as Chairman of the Management Board at MDM. Since 2006, Igor has been chairman of the board of directors and chairman of the strategy committee at URSA Bank, which was created as a result of a merger between Uralvneshtorgbank and Sibacadembank. Prior to this merger Igor served as chairman of the board of directors of Sibacadembank, where he had worked since 1997, and chairman of the supervisory board of Uralvneshtorgbank, in which he had acquired a stake in 2004. Between 2001 and 2004, Igor served as chairman of the management board of Bank Caspian (Kazakhstan). He began his banking career in 1993 at Russky Narodny Bank as deputy chairman of the management board. Igor graduated from Novosibirsk State University with a degree in economic cybernetics in 1990.

Edward Nassim

Edward served as Vice President for Europe, Africa, and the Middle East of the International Finance Council, a World Bank Group member, until his recent retirement. In his previous role as IFC Director of Operations in Europe from 1991 to 2006, Edward helped pioneer investments in many sectors of the Russian economy. In 1989 Edward was appointed as IFC's first Director of Corporate Finance Services. He was involved in several transactions worldwide, including the restructuring and privatization of some of the first large state-owned companies in Czechoslovakia and Poland. Edward has also been involved in several advisory services initiatives in areas including corporate governance, improving the business climate in the SME sector, leasing, energy efficiency, and housing finance. Edward holds undergraduate and graduate degrees from Imperial College, London, and an MBA from Harvard Business School.

Alexander Doumnov

Alexander was elected to the MDM Bank Board of Directors at the Annual General Meeting of Shareholders in May 2009. He currently also sits on the Boards of Directors of Trans-Siberian Gold Plc, London, where he has been chairman since 2008, and Siberian Mining & Metals Alliance.
From 1998 to 2007 Alexander was a partner and sat on the Board of Directors at Deloitte and Touche CIS, and as Deputy Chairman since 2001. From 1997-1998 he was chairman of the management board at East West Investment Bank, before which he had held the positions of director and managing director at Deloitte and Touche CIS since 1994. From 1992 to 1994 he worked for The World Bank in Washington, DC.
In addition, Alexander’s 40 years’ professional experience in finance and economics has included tenures at the State Bank of the USSR, Wozchod Handelsbank, the Moscow Financial Institute, and the Research Institute for Foreign Economic Relations of the USSR.
Alexander holds a degree in international monetary and credit relations (1968) and a PhD in Economics (1971) from the Moscow Financial Institute, as well as a certificate from the Harvard Business School Advanced Management Program (1990). He speaks English, German and French.

Luqman Arnold

Luqman’s 35 year career has spanned commercial, investment and retail banking, insurance, asset and wealth management, and has included posts as President and Chairman of the Group Executive Board of UBS AG and CEO of Abbey National PLC. He has also worked at BNP Paribas and CSFB.

Lars Grönstedt

Mr. Lars Grönstedt obtained most of his experience at the Swedish Handelsbanken where he worked since 1983. Between 2001-2006, Mr.Grönstedt filled the position of the Chief Executive Officer, and headed up the Board of Director later between 2006 and 2008. He as well sat on the board or as the chairman in a number of other banks or financial companies. Currently, Mr. Gronstedt is the Board Member of the Swedish Fund for Free Entrepreneurship of the Economic Analysis Development Fund at the University of Stockholm, Probusinessbank, Swedish Governmental Commission for the State Property Sales, the Institute of International Economy at the University of Stockholm.

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