Russia's Sberbank Names Former Rusal CEO as Finance Chief
November 12 2019 - 3:36PM
Dow Jones News
By Nina Trentmann
A former chief executive of aluminum giant United Co. Rusal PLC
will become finance chief of Sberbank, Russia's biggest lender.
The appointment of Alexandra Bouriko, who is expected to join
Moscow-based Sberbank on Jan. 1, comes as Russian banks are
experiencing heightened domestic demand for loans as U.S. sanctions
force Western banks to sever ties with some Russian clients.
Ms. Bouriko, who will hold the title of senior vice president
and head of finance, will be responsible for the bank's finances as
well as its treasury, accounting and reporting functions, tax
planning department, investor relations and data management team,
Sberbank said.
Ms. Bouriko will succeed Alexander Morozov, who plans to resign
as deputy chairman and head of the finance unit on July 1, 2020,
after about 12 years in the role, Sberbank said. Mr. Morozov will
assume a new role at Sberbank after a short break, the bank
said.
Ms. Bouriko served as the chief financial officer of Rusal from
2013 until early last year, when she spent several months as the
company's chief executive. She stepped down amid a leadership
shuffle intended to help the company escape the Trump
administration's sanctions program.
Rusal faced sanctions because of its association with Russian
billionaire Oleg Deripaska, a major shareholder in Rusal's holding
company EN+ Group PLC. The sanctions on the company were lifted in
January after Mr. Deripaska cut his stake in EN+ Group. The
Treasury Department, which oversees U.S. sanctions, doesn't have
any record of Ms. Bouriko ever having been placed under
sanctions.
After leaving Rusal, Ms. Bouriko became an adviser to Herman
Gref, Sberbank's CEO and chairman. Sberbank didn't respond to a
request for additional comment.
Write to Nina Trentmann at Nina.Trentmann@wsj.com
(END) Dow Jones Newswires
November 12, 2019 15:21 ET (20:21 GMT)
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