UrBC, Yekaterinburg, August 9, 2019. The Ural Bank for Reconstruction & Development (UBRD) completed its organizational restructuring procedure in every part of Russia where the bank operates, the bank's press service reports.

Every Russian constituency where the UBRD runs its branches is now part of one of the eight divisions. The bank also appointed a director for every division.

'The UBRD switched from a centralized management system, with all the branches reporting directly to the head office, to a localized management one. The new system relies on the bank's current scale of business, operation format, and geographic location,' the press service says.

Oleg Popkov is now head of UBRD Yekaterinburg; Mikhail Prilepov is head of Mid-Urals; Galina Rodina is head of Southern Urals; Alexander Kazansky is head of Center; Elena Retunskaya is head of South; Andrei Tretyakov is head of Siberia; Vladislav Samoylov is head of Western Siberia; and Alexander Velmisov is head of Volga Region.

'To make the decision-making process faster and more efficient, we simplified our management structure. The first outcomes are already there after six months: horizontal interaction grew more productive, while feedback gets there faster. As we had some of the market's strongest professionals join our team, I strongly believe this will reinforce the bank's status on the local markets,' says President at the UBRD Anton Soloviev.