Translated material
Oleg Vyugin will become a "useful acquisition" of MDM Bank
Oleg Vyugin, the former director of the Federal Service for Financial Markets , said goodbye to his colleagues on Wednesday. On Thursday, Vladimir Milovidov began to fulfill the duties of the head of the FSFR.
MDM-Bank offered a chair of the chairman of the board of directors and compensation of $ 2 million a year. Vyugin will head the board of directors of this private bank of the first tens with a probability of 98%, Vedomosti write.
Vyugin himself said that “this information is not true” at the moment. The current chairman of the MDM Bank board of directors is Vladimir Stolin, who entered the board of directors of the MDM Bank in December 2005 and heads it from May 2006. The shareholders of the MDM Bank will choose a new board of directors at the annual meeting on May 25. This issue is listed on the agenda posted on the bank’s website, but Councils for the Council are not indicated.
Oleg Vyugin never worked in banks before, but this area of activity was familiar to him: in 2002-2004, he was the first deputy chairman of the Central Bank and oversaw a credit-money policy. Vyugin spent most of his career in the Ministry of Finance, where he rose to the post of the first deputy minister. In 1999-2002. Vyugin was an executive vice president of the Troika Dialog.
For management and owners of MDM Bank, the transition of Vyugin is considered a "very useful acquisition." At the new post, Vyugin can also engage in the preparation of the bank for IPO, as it has an impeccable reputation, is known in Western financial circles, and is able to attract investors, experts say.
MDM-Bank can conduct a public placement of shares in 2009. The arrival of Vyugin is able to increase the capitalization of the bank and help it sell it.
The assets of the bank, which began with several points of exchange of currency, amounted to 201.8 billion rubles on January 1, 2007, own capital - 20.9 billion rubles, profit - 4.6 billion rubles. 90% of the shares of MDM Bank are controlled by a member of the board of directors Sergey Popov.