18 March 2014

The Board of Directors of MDM Bank has appointed Timur Avdeyenko CEO and Chairman of the Management Board. His candidacy has been approved by the Central Bank of Russia.

Mr Avdeyenko has over 15 years of experience in senior management positions at major Russian banks, including Promstroybank, Alfa-Bank and Konversbank.

From 2001 to 2007, he was Deputy Chairman of the Management Board of MDM Bank. From 2007 to 2011, he held the positions of President and Chairman of the Board of Directors of EMAlliance, one of the largest power machine building companies in Russia. Since 2011, Mr Avdeyenko has participated in investment projects in clinical medicine, retail chains and the mining industry. In 2012-13, he was First Deputy General Director of the Institute for Economics and Legislation.

Timur Avdeyenko graduated from the Moscow Institute of Management and holds a PhD in economics.

Oleg Viyugin, Chairman of the Board of Directors, commented: "It's a pleasure to welcome Timur Avdeyenko as CEO and Chairman of the Management Board. Timur has extensive management experience and an in-depth understanding of the banking business. He is well acquainted with the Bank and many of our partners. I have no doubt that Timur's approach and commitment to developing the Bank's business will yield positive results in the near future."

Mr Avdeyenko commented: "Managing one of the largest privately owned banks in Russia is a great honour. I welcome the opportunity to return to the Bank and bring to bear the managerial and banking experience that I have built up over the years. MDM Bank has great growth potential. It has a brand with a long history and a strong presence in a number of regions, especially in the Urals and Siberia. I see real opportunities to improve the Bank's operating efficiency and financial performance, and to successfully deliver on its strategic objectives."

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