OREANDA-NEWS. The MDM Bank Board of Directors made a number of important decisions at its meeting on the 16th of October, the bank press service reported. 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."