Sberbank, Abu Dhabi’s Invest AD clinch “strategic” deal

By Andrei Skvarsky.

Russia’s biggest lender Sberbank and Abu Dhabi’s state-owned Invest AD investment management firm have signed a preliminary deal on “strategic” cooperation in asset management in Russia, the Commonwealth of Independent States, and the Middle East, Sberbank said.

The Memorandum of Strategic Cooperation was signed by Anton Rakhmanov, chief executive of Sberbank Asset Management, and Nazem Fawwaz Al Kudsi, chief executive of Invest AD, at last week’s annual St Petersburg International Economic Forum, the Russian bank said in a statement.

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