Sberbank is building its private banking business, particularly in lifestyle

Sberbank has stated its intention to hire on previous occasions, but now (in its private bank at least), it’s starting to come good on its promises.

It’s made three new hires; Julia Petrova joins as head of lifestyle from Nomos-Bank, and promoted Alexei Dolgikh and Igor Prokhaev into its private banking team from elsewhere in the business.

While this in itself is relatively small fry, more hires are coming. “New, significant hires will follow,” said the bank in a statement.

In another sign that private banking is growing in Russia, Sergey Grigorian was hired as CIO at Nomos-Bank earlier this year, and promised to expand the business there.

Lifestyle banking is increasing in prominence in Russia, argues Petrova: “Fully-fledged private banking does not just mean competent management of clients’ financial assets. It includes a wide range of matters, from acquiring real estate to choosing a school for their children, something that is covered by lifestyle.”