The MDM Bank Board of Directors appoints Sergey Timofeyev as Chairman of the Management Board, and approves new Management Board composition

28.07.2010

Moscow, 28 July 2010 – Today, the MDM Bank Board of Directors appointed Sergey Timofeyev as Chairman of the Management Board after his candidacy was approved by the Central Bank of Russia. In addition, the Board of Directors approved a renewed composition for MDM’s Management Board. Mr. Timofeyev and each other member of the Management Board have signed a five year contract with the Bank. The new composition of the Management Board is as follows: Sergey Timofeyev, Chairman, Chief Executive Officer; Tatiana Pupkova, Deputy General Director, Chief Operations Officer; Vadim Sorokin, Deputy General Director, Chief Financial Officer; Konstantin Leonov, Head of Direct Investment Management; Kirill Nikulin, Head of the Urals Territorial Bank; Oleg Novolodkskiy, Chief Risk Officer; Konstantin Rogov, Head of Treasury; Nikita Riauzov, Head of Corporate Investment Banking.

Alexey Sannikov, the Head of MDM Bank’s Siberian Territorial Bank, was recommended to be included into the Management Board.

Dmitry Yurin will be acting Head of the European Territorial Bank.

The main goal set for the Management Board is to implement the previously approved strategy. All Management Board members are existing MDM Bank employees.

Oleg Viyugin, the Chairman of the Board of Directors, said of the decision: “MDM Bank has now successfully completed post-merger integration process. The primary target for the new CEO and Management Board is to implement the Bank’s previously approved 5-year development strategy”.

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