OREANDA-NEWS. December 21, 2010. MDM Bank has completed its business plan for 2011-14. The business plan was developed within the framework of the Bank's approved long-term development strategy. The business plan's specific target figures will be defined annually, based on a detailed assessment of the business development conditions for the following year.

As part of the provisions within the business plan, and in order to optimize its implementation, the composition of the Management Board has been altered. Furthermore, within the management board, functional responsibilities have been redistributed.

As part of these changes, Konstantin Rogov, already a Management Board Member, was appointed Chief Financial Officer. Since 2003, Mr. Rogov has been the Bank's Head of Treasury.

Mr. Rogov has extensive experience in banking, particularly in asset and liability management, raising long-term and equity capital and security transactions. He has been a Management Board Member since April 2009. From March 2009, Mr. Rogov was Head of Treasury, and from November 2008 he was Deputy Head of Corporate and Investment Banking. Mr. Rogov joined MDM Bank in 2003 as Head of the Treasury Department.

Vadim Sorokin, who previously served as Deputy CEO and CFO, will continue his work as the Protector of the Bank's Long-term Personnel Motivation Fund, one of the key instruments for the Bank's strategic development. The Protector's main task will be the control of Fund assets in line with the approved Motivation Program.

The Treasury will be taken over by Vadim Korablin who had since March 2009 served as Head of ALM. Prior to that, he had been Deputy Head of Treasury. Mr. Korablin has 17 years of experience in the banking industry, and has occupied top positions within the MDM Bank Treasury for the past nine years.

Konstantin Leonov, already a Management Board Member, has been appointed Head of the Urals Territorial Bank. His primary task in his new role is to implement the Bank's strategy in one of the country's most economically developed regions. Mr. Leonov will continue coordinating the operations of the Direct Investments Department, which he has headed since August 2009.

Oleg Viyugin, the Chairman of the MDM Bank Board of Directors, said: "The complex but compelling tasks of developing our business model enjoy the full support of the entire Bank. We believe that our management and personnel provide the bank with the unique combination of professionalism, creativity and banking know-how that will be needed to achieve all MDM Bank's goals in the short and long term".