Sberbank throws its weight into investment banking

In the words of a recent recruit – it’s the biggest bank you’ve never heard of. If you’re an investment banker in Russia, or even Turkey and Poland, that’s about to change. But can Sberbank, propelled by its acquisition of Troika Dialog, get anywhere close to fulfilling its potential?

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Sberbank already dominates Russian corporate banking, with a market share of just over 30% – more than three times its nearest rival, VTB. Now it is throwing its weight into investment banking, starting with the acquisition for an initial $1 billion of local investment bank Troika Dialog. “Sberbank is one of the only growth platforms in European banking,” says a new recruit from a western bulge-bracket firm.

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