Sberbank reports management reshuffle for digital services

By Andrei Skvarsky.

Sberbank, Russia’s biggest lender, has discharged Viktor Orlovsky of his duties as senior vice president overseeing the bank’s digital business and appointed him as head of SBT Venture Fund I, a vehicle for investment in startups developing technologies for the financial sector.

The bank has also raised Michael Erenburg from the role of senior managing director responsible for the firm’s relations with providers of information technology equipment and software to the position of vice-president and head of the digital business directorate, Sberbank said in a statement.

Erenburg had held senior positions at Russia’s RUSAL, one of the world’s main producers of aluminium and alumina, and Asteros, the largest information technology company in Russia, before joining Sberbank in 2013.

The investments of SBT Venture Fund I include wholly digital bank Moven (www.moven.com) and social investment platform eToro (www.etoro.com).

Sberbank holds nearly one third of aggregate Russian banking sector assets and is the key lender to Russia’s economy. The central bank is the founder of Sberbank and owns a stake of 50% plus one voting share in it. The rest of the capital belongs to Russian and foreign investors.

Sberbank, which, along with some other Russian banks, had Ukraine-related sanctions imposedon it by the West last year, has more than 135m personal and one million corporate clients in 22 countries.

It has almost 17,000 branches in Russia and operations in Britain, the United States, the Commonwealth of Independent States, Central and Eastern Europe, Turkey and other countries.

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