Sberbank’s European subsidiary to be led by veteran Austrian banker

By Andrei Skvarsky.

Sberbank has hired Gerhard Randa, an ex-head of Bank Austria, as chief executive of Sberbank Europe AG, a Vienna-headquartered subsidiary of Russia’s biggest lender operating in Austria, Germany and eight Eastern European countries.

Randa, 71, began his banking career in 1967 and has held senior positions at various European banks since then.

In 1990 he was put at the head of former Austrian bank Laenderbank. The following year he became deputy chief executive and in 1995 chief executive of Bank Austria, a subsidiary of UniCredit formed via the merger of Laenderbank and Zentralsparkasse.

His subsequent roles included a senior financial post at Magna, a Canadian global supplier of car and truck parts.

Randa, who succeeds Axel Hummel as head of Sberbank Europe AG, has been a member of the supervisory board of Sberbank’s European subsidiary since 2012, the Moscow-based banking giant said in a statement.

Besides Austria and Germany, Sberbank Europe AG does business in Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Slovakia, Slovenia, Serbia, and Ukraine. As of the end of 2015, it had a network of 280 branches and 5,000 employees.

Herman Gref, chief executive of Sberbank’s parent firm, said at a meeting in Moscow late in May that the banking group had been recovering this year after its business bottomed out in 2015.

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