Sberbank CIB Hires Citigroup's Ankudinov After Equity Departures

Sberbank CIB hired former Citigroup Inc. managing director Dmitry Ankudinov as an adviser to Chief Executive Officer Oleg Ganeev after several employees left the equities division of the investment bank.

Ankudinov, who was head of investment banking for Citigroup in Russia, joined the lender on Feb. 1, according to a Sberbank CIB spokeswoman. Over the past month, the bank’s head of Russian equity sales Kirill Gromov departed, as did Dmitry Ansimov and Stas Platonov, she said, asking not to be identified due to company policy.

Investment banking fees slumped to a 13-year low in Russia last year as sanctions over the Kremlin’s role in the Ukraine conflict and low oil prices curbed business. Several international lenders, including Barclays Plc, Royal Bank of Scotland Group Plc and Deutsche Bank AG have retreated from Russia as the business climate sours.

Sberbank CIB announced job cuts at its London office in July 2015, saying it would refocus on Russia.

Timur Nasardinov, a Moscow-based adviser to head of global markets Maxim Safonov, also left the lender in January, the spokeswoman said. Nasardinov ran the bank’s equities business until 2013.

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