Another Sberbank executive leaves the sanctioned Russian lender By Reuters

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Another Sberbank executive leaves the sanctioned Russian lender

Stock Markets May 16, 2022 06:56AM ET

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Another Sberbank executive leaves the sanctioned Russian lender

(Reuters) - Russia's dominant lender Sberbank said on Monday one of its senior vice presidents had left, the latest executive to resign since Moscow sent troops into Ukraine in February.

Andrey Shemetov, who was part of Sberbank's corporate and investment business and supervised the company's global markets, its depository, key client coverage, and investment business, has decided to focus on new projects, the bank said.

A source close to Sberbank said: "Andrey has been on holiday for almost two months already and rarely comes to the bank. This decision, it seems, was taken a long time ago."

Several Russian firms have shaken up their management teams since Russia began what it calls a "special operation" in Ukraine. Sberbank, which has fallen under unprecedented Western sanctions, has seen a couple of high-profile departures.

Lev Khasis, first deputy chairman of Sberbank's management board, pushed his pre-arranged departure forward and plans for him to become president of a new e-commerce holding company have evaporated, the Vedomosti daily reported in April.

David Rafalovsky, the bank's chief technology officer, who was spearheading Sberbank's ambitious push into digital services, has also left, a source told Reuters.

Sberbank had no comment on those departures.

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