The single-propeller SP-20081 plane piloted by Bronislav Yermak skidded as it touched down on a landing strip in the village of Yuryevskoye on Sunday, crashed through a fence and then plunged into the Volga River, news reports said Monday.
A second man, Alexander Ludanov, also died in the crash.
Yermak, 39, a licensed military pilot, owned the SP-20081, a modification of the Yak-52, a Soviet trainer plane.
Regional transport prosecutor Sergei Malchuk said the two-seater plane was discovered overturned in the river, and the bodies were recovered from the water-filled cockpit.
He said the reasons for the crash and the cause of death were unclear.
MDM praised Yermak, head of the bank's margin trading on foreign currency markets, for his work.
"The establishment and development of MDM-Bank's forex system is inextricably tied to his name," it said in a statement.
MDM, a top 15 bank in terms of assets, said Yermak was on vacation at the time of the accident.
(MT, AP)
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