OREANDA-NEWS. August 8, 2007. MDM Bank announced several internal management reallocations. Firstly, Alexey Drobot, former Head of the Moscow network development department of the Corporate Block, has been appointed Head of the Corporate Block. Alexey will take over from Timur Avdeenko who is leaving the Bank. Having worked at MDM Bank for six years, Alexey has established himself as a knowledgeable and authoritative person, committed for productive work. Alexey will join the Management Board.

Additionally, Oleg Mashtalyar, Head of the Credit Department, will take the role of the Deputy Chairman of the Management Board, Chief Operating Officer of MDM Bank, responsible for building and developing the Bank’s operations and middle-office functions. Oleg Mashtalyar is one of the most experienced managers at MDM Bank. He has been with the Bank for eleven years, and he is the key person in making the credit process reliable and transparent. Now Oleg will have a chance to broaden his area of responsibility and restructure internal procedures within the Bank in accordance with best international practices. Oleg will retain his role as Head of the Bank’s Credit Committee.

Eugene Tutkevich, Deputy Chairman of the Management Board, who has  unique project management experience, will take the responsibility for strategic project development and in the near future will be focusing on overseeing the development of a new business model of the Bank, based on the new IT platform. The aim of this project is to dramatically improve the quality of services that the Bank provides to its clients.

Michelangelo Mazzarelli, Head of the Strategy Department, will simultaneously become Head of the Human Resource Department. Combining these functions is in line with the new strategy of the Bank, which stipulates  a single person responsible for the key role of planning the regional network structure and managing human resources in order to provide superior client service and increase the efficiency and effectiveness of the organization.

“The new management appointments and re-allocations are extremely important for developing MDM as a dynamic, innovative and regionally focused bank, – stressed Michel Perhirin,  CEO of MDM Bank. – The changes will help our clients feel confident about the quality of services and management commitment at the Bank. Managers who are taking responsibilities at this point, will be instrumental in leading the Bank through the period of major technological and operational changes in the next few years”.