Sberbank of Russia and Troika Dialog Announce the Closure of their Deal to Create the Largest Universal Banking Institution in Russia
Sberbank of Russia and Troika Dialog announce the closure of the deal to merge the two companies. This landmark event signals the creation of the largest universal banking institution in Russia.
The integration of Troika Dialog will enable Sberbank to reach a new level of client service through high-quality financial consultation and a broad choice of investment strategies, underpinned by a full range of modern financial instruments – from the Bank’s traditional credit products to complex investment banking and global markets products. An undisputed regional market leader will emerge as a result of the merger of these two complementary businesses.
As part of the process of integrating Troika Dialog into the Sberbank structure, a new division is being created: the Corporate Investment Bank (CIB) which will provide services to the largest Russian and foreign corporations and financial institutes. CIB will become part of the business unit entitled “Corporate Business” managed by Andrey Donskih, Deputy Chairman of the Management Board of Sberbank of Russia. Alexander Bazarov, Member of the Management Board, Vice President of Sberbank of Russia and Director of the Corporate Clients Department, and Ruben Vardanian, CEO of Troika Dialog have been appointed Co-heads of CIB.
The second area of business being created as a result of integration is Wealth Management. Wealth Management will include the business areas which focus on selling investment products to private clients, including Asset Management and Private Banking. Ruben Vardanian, Troika Dialog CEO, will head Wealth Management; Bella Zlatkis, Deputy Chairman of the Management Board of Sberbank of Russia, will oversee this business unit. The unit’s development plans include the creation of the largest private bank in Russia, leveraging western experience of developing product lines and client service technology.
Closed joint stock company "Sberbank CIB" may provide brokerage and depository services on the basis of the following licenses granted by FSFM of Russia and provide other related services on the securities market:
— №177-06514-100000 for brokerage activities as of April 08, 2003;
Informative and analytical services and data are provided by CJSC "Sberbank CIB" only within the framework of the abovementioned services and do not constitute a separate kind of activity.
CJSC "Sberbank CIB" may refuse to provide services to persons who do not meet the requirements, imposed by CJSC "Sberbank CIB" for its clients, or when legislation applicable to such persons prohibits/restricts the provision of these services to them, as well as in other cases stipulated by applicable legislation and/or internal regulations of CJSC "Sberbank CIB".
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