MDM Bank Board of Directors Approves New Management Board Composition

17.10.2007 13:08

Moscow, 17 October 2007 – The MDM Bank Board of Directors made a number of important decisions at its meeting on the 16th of October. The board approved a new organizational structure of the Bank and appointed members to the Bank’s management bodies. Under the new structure, the MDM Bank Management Board will consist of seven members: Michel Perhirin (CEO), Oleg Mashtalyar (COO), Andrey Ilyin (CFO), Alexei Drobot (Head of Corporate and Investment Business), Sergey Babayan (Deputy Head of Corporate and Investment Business), Natalia Blatova (Head of Retail), and Konstantin Leonov (Head of Network). Several of the appointments still need to be approved with the Central Bank. Julia Kochetygova (Director of Corporate Relations) will be invited on a permanent basis.

Michel Perhirin, CEO of MDM Bank, gave the following comments on the Board decisions: “The bank has now completed a long process of organizational and managerial changes. The organizational structure and management team approved by the Board are intended to bring the Bank’s managerial processes in line with the development strategy we aim to implement. We are planning for the bank’s future. We want the people who are leading the Bank today to think medium- and long-term. We are confident that the joint efforts of the Bank’s employees, led by the new management team, will secure the Bank’s stability, growth and innovation.”

MDM Bank was founded in December 1993 and holds a General Banking License issued by the Central Bank of Russia (#2361 dated 13 February 2003). MDM Bank is one of the most dynamically developing banks in Russia and is among the top Russian banks according to assets and equity. Today, MDM Bank is a modern universal financial institution offering a full range of services to its clients.
MDM has one of the highest credit ratings among privately-owned Russian banks – Standard & Poor’s (BB, stable), Fitch Ratings (BB, stable) and Moody’s (Ba1, stable) – and is the only Russian financial organization that has been given a public corporate governance rating by Standard & Poor’s (6+). Standard and Poor’s awarded MDM Bank the highest ranking in its study of ‘Transparency and Disclosure by Russian banks’ in 2006 and 2007. The Bank was also regarded by Euromoney magazine as “one of the leading banks in Russia and Emerging Europe, applying the most advanced standards of corporate governance.”
MDM Bank has received a number of awards from Global Finance magazine:
2005 – ‘Best Domestic Bank’ and ‘Editor’s Special Award for Transparency’.
2006 – ‘Best Forex Bank’, ‘Best Domestic Bank’, ‘Best Domestic M&A Arranger’, and ‘Best Bank in
Corporate Governance’. In October 2006, Euromoney magazine awarded MDM Bank ‘Leading Bank in Corporate Governance in Emerging Europe’.
2007 – ‘Corporate Governance Editor’s Award’, and ‘Best Forex Bank’.

Inquiries:

Investor Relations: +7 495 221 30 75

Public Relations: +7 495 363 27 41

17.10.2007 15:12

• Back to list