The corporate and investment banking business arm of one of the largest Russian banks Sberbank has on-boarded a new key executive to head its electronic markets division. Sberbank CIB has hired Vladimir Yarovoy, who previously served as Head of FX at Moscow Exchange. In his new role as Head of the Electronic Markets Distribution, he will also hold a Managing Director title within the company’s Global Markets department.

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The main responsibility of Yarovoy will be the adoption of Sberbank Markets, which is the company’s new multi-asset class electronic trading platform. The company launched the solution back in May with primary focus on FX and subsequently launched multiple asset classes.

Yarovoy will be reporting the Head of Electronic Markets, Damian Bunceand and on the distribution side to the Head of FI & Derivative Products Sales, Vadim Martynenko.

Back at the Moscow Exchange, Yarovoy has been overseeing sales, market making and the development of the foreign exchange product of the company.

Commenting on the appointment, the Head of Global Markets at Sberbank CIB, Andrey Shemetov, said: “The Global Markets business is an area of ongoing evolution as due to our strategy we plan to continue developing online products. Vladimir’s experience in keeping apace with change through new product creation and innovation will be invaluable as Sberbank CIB furthers the development of its proposition to better meet client needs.”

Earlier this week, the Global Markets team was bolstered with the appointment of Konstantin Shulga as Electronic Markets Distribution Director. Earlier during this year Sberbank has also onboarded Ilya Nikitin as Head of Structured Products Sales.