Oleg Tsvetkov, the former corporate secretary of Severstal and current head of the National Union of Corporate Secretaries, was recently appointed as head of the Corporate Security Service at Sberbank.
Sberbank has made the improvement of the quality of corporate governance one if its priorities. The company regards corporate governance improvements as an important step in raising the bank's investment attractiveness. It also provides for the rights and lawful interests of shareholders.
Sberbank said that Tsvetkov's appointment will help improve its existing governance.
Sberbank is the largest bank in Russia and is a leading global financial institution. It is a key lender in the national economy and the biggest deposit taker in Russia. Sberbank holds approximately one-third of Russia's aggregate banking sector assets.
Sberbank is 50 percent owned by the Central Bank of the Russian Federation with the other 50 percent held by investors, both international and domestic.
The bank has more than 110 million individual customers and one million corporate clients located in 20 countries.
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