OREANDA-NEWS. As of 1 December 2008, Andrey Stepanenko, member of the Management Board of Raiffeisenbank, will take on the position of Head of Consumer Banking Directorate, subject to approval by the Central Bank of the Russian Federation, reported the press-centre of Raiffeisenbank.

"Andrey Stepanenko has extensive experience in devising and running complex and interrelated processes. His knowledge of the specifics of retail lending, skills in managing large teams and coordinating branches within the network all indicate that he is the perfect candidate for this post. I am confident that Andrey Stepanenko will be successful in developing our retail business, which is of prime importance for Raiffeisen in Russia", said Pavel Gurin, CEO of ZAO Raiffeisenbank.

Mr Stepanenko has been with Raiffeisenbank since 2003, and for the past two years he has been a member of the Management Board and Head of the Risk Management Directorate. Andrey Stepanenko's responsibilities in this post included running the bank's risk evaluation, analysis and management system.

Roman Vorobiev, who is stepping down as Head of Retail, informed the Bank's Advisory Board that he wishes to further his career and meet new challenges outside the Raiffeisen Group. "Roman Vorobiev effectively and efficiently launched retail business for the joint bank following Raiffeisenbank Austria's integration with Impexbank and has made a significant contribution to the rapid and high-quality development of our retail business on the Russian market. We are most grateful to him for this excellent work and wish him every success in his future career", said Pavel Gurin.

Andrey Stepanenko will be replaced by Maria Minaeva as Head of the Risk Management Directorate. Ms Minaeva has been with the Bank since 2007 as Head of Corporate Risk Management Division.