Sergei Popov: Russian Banker

Posted on June 17, 2014


Sergei Popov graduated from Ural State Technical University with a major in heat power engineering in 1993. Later he became a partner in the Urals-Siberia Trading and Industrial Company (USTPK). The firm specialized in energy and pipe trading and supplying raw material to Russian metallurgical plants.

Sergei was a partner and commercial director at OOO Prodcontract Company. He then co-founded Trading and Industrial Group MDM in 1996. There he took a senior role in strategy development until 1999. The following year he co-founded MDM Industrial Group with Andrei Melnichenko. Then with Dmitry Pumpyansky they established TMK, one of the largest pipe producers in the world.

Sergei and Andrei sold TMK to Dmitry in 2006. Another business venture formed by Sergei and Andrei was Eurochem which is the biggest mineral producer in Russia. They also founded SUEK, the largest coal producer in the country. After many years of collaboration Sergei and his partner Andrei began dividing their assets in 2006. This division process was finally completed in 2012.

Currently Sergei is the largest shareholder in MDM Bank which has assets of $9 billion.