Ilkka Salonen, former head of Sberbank's international block, was elected to the board of directors at Open joint stock company BANK URALSIB at the latter's AGM on June 28, 2012. He replaces Alexander Dementyev, a deputy CEO, on the board. The rest of the board is unchanged. Salonen has worked in Russia since 1985, when he took over the leadership of the Moscow representation of Kansallis-Osake-Pankki. In 1997 to 1998, he supervised the business of Merita Nordbanken in the Baltic region and the Commonwealth of Independent States (CIS). In 1998 to 2006, Salonen was chief of the International Moscow Bank. In 2007, he became president of managing company Renaissance - Asset Management.