Vadim Sorokin Appointed CFO of MDM Bank
OREANDA-NEWS On 30 October MDM Bank announced the appointment of Vadim Sorokin as Chief Financial Officer (CFO) of MDM Bank. Andrey Ilyin, who has been MDM Bank’s CFO since 2004, decided to leave the bank in connection with plans to consider opportunities in a new field. The MDM Bank Board of Directors thanks Andrey for his contributions to implementing the Bank’s strategy, diversifying its assets and liabilities base, creating MDM Bank’s excess liquidity cushion and improving the Bank’s financial transparency.
Vadim Sorokin begins as CFO On 30 October 2008. He joins MDM Bank from Deloitte, where over the past 10 years he was promoted from the position of manager to partner-in-charge of the financial services practice. Previously he worked as CFO at East-European Investment Alliance, and held positions at the bank Alba-Alliance and KPMG. Vadim graduated from the Financial Academy of the Government of the Russian Federation.
Commenting on the appointment of Vadim Sorokin, MDM Bank CEO Igor Kouzin said, “MDM Bank has traditionally attracted the best and most qualified people on the market. We are happy to have such a highly qualified finance professional join us as CFO. The bank today faces challenging tasks that require the mobilization of its intellectual resources: in this difficult time for the market, we aim to increase efficiency and implement a new model for financing the growth of our business. This will require a long-term view, a strategic approach and deep analysis. We are confident that Vadim Sorokin has full command of all of these skills.”
Vadim Sorokin said the following regarding his appointment: “Joining a bank on the level of MDM is a serious step in my professional career. The Bank has a clear development strategy and is known for its balanced, conservative financial policy, which is the basis of its sustainability and reliability. In the current market situation these are major advantages, which we must support and use. I view my role as seeking new ways to support the sustainable development of the bank through a balanced financial policy.”
Following approval by the Central Bank of Russia Vadim Sorokin will join MDM Bank’s Management Board.