Top officials from both Russia’s largest Sberbank and Troika Dialog investment house resign as the merger process continues. Jacque Der Megredichyan, second man in Ruben Vardanyan’s Troika Dialog, leaves his managing director post, following Andrei Golikov - member of the board of Sberbank, who was responsible for the bank’s investment projects and stepped down in June 2011.

Der Megredichyan is no longer member of the team, chairman of the board of Troika Ruben Vardanyan confirms. “We are building up a new model of investment and banking business which implies a new system of authority and responsibility for different areas of business,” Vardanyan says. Vardanyan also said that despite redistribution of authority there was no conflict with Megredichyan.

The Russian Mafia ( quotes Der Megredichyan as saying that the desire to have “more flexible plan for the future” was the reason for his resignation. Joining a state-run bank, actually the governmental organization, after years of works in a private company is very “uncomfortable” for the man with great sense of inner freedom, the analysts say.

“The merger process has brought about major changes in both organizations. Thereupon, everyone decides for himself. This is a normal rotation process. Our task is to maintain the continuity of corporate policy and assure smooth transition of office,” Ruben Vardanyan said.