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Michael Matovnikov Moves to Sberbank

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Michael Matovnikov Moves to Sberbank

Mikhail Matovnikov, former CEO of Interfax-CEA moves to work in Sberbank. The former member of the Supervisory Board of the State Bank will be in charge of analyzing its work.

According to RBC daily, Mr Matovnikov will start his new job during the current week. His job in the credit institution, as indicated by market players, will not be associated with the analysis of external markets as it was in Interfax-CEA but with direct analysis of Sberbank activities. According to sources in RBC daily it was not reported whether he would invite any of his colleagues from Interfax-CEA to join his team.

Mr Matovnikov was unavailable for comment yesterday and there was no official confirmation of his appointment in Sberbank. Previously, the position to be taken by Mr Matovnikov did not exist before. Since 2011, Mikhail Matovnikov was a member of the Supervisory Board of Sberbank, however, in May this year he was dismissed.

Since joining Interfax group in 2000 as Chief Expert of the Center for Economic Analysis, as early as 2001 he became one of the creators of the rating agency Interfax becoming a top bank rating agency. In 2005, he was appointed Vice President and Chief Analyst in Moody's Interfax Rating Agency. In the same year, he became CEO of the Center for Economic Analysis of Interfax.

Dmitry Akopov, CEO of recruitment consulting company Jacobson Partners, commented the appointment of Mr Matovnikov saying that it is extremely difficult to let go such a strong financier under the constant development and expansion of an international group now that Sberbank initiated active work on the strategy with the participation Alexei Kudrin. "There are few specialists of that scale and format in Russia which may be needed by Sberbank," he added.

In September, it was reported that ex-Finance Minister Alexei Kudrin joined Sberbank as Head of the Strategic Planning Committee in the Supervisory Board of the state-owned Bank.

Read more: http://www.rbcdaily.ru/finance/562949989090526.

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