Sberbank’s biggest domestic rival is growing fast
The Russian state wants a national banking champion to be proud of and has brought in new management, many from the private sector, to transform Sberbank into a top-notch corporate and retail bank. Its ambitious plans include establishing strong positions in foreign markets.
ANTON KARAMZIN, FORMER chief financial officer of Morgan Stanley in Russia, had not met German Gref when he took the call from a headhunter on December 27 last year. Just two days later, he was preparing to sign a new job contract and shaking hands with the former Russian minister of economics and trade – chief Russian negotiator on World Trade Organization entry, father of the multi-billion dollar Russian stabilization fund, liberal economic reformer and long-term member of president Vladimir Putin’s inner circle until his sudden removal from the cabinet in 2007. ...
