November 8, 2018 / 12:45 PM / in 10 days

Russia's Sberbank deputy chairman of management board plans to leave post - sources

MOSCOW, Nov 8 (Reuters) - Alexander Torbakhov, deputy chairman of the management board at Sberbank, is planning to leave his post, two people familiar with decision told Reuters, with an announcement expected next week.

Torbakhov, 47, joined Sberbank in 2010 and was in charge of the retail business, an area where Russia’s top bank has expanded massively under Chief Executive German Gref. The sources did not give a reason for Torbakhov’s resignation.

Sberbank did not reply to a Reuters request for a comment, while Torbakhov could not immediately be reached for comment. In June, Sberbank first deputy chairman Maxim Poletayev left his post but continued to advise Gref.

There are currently nine members of the executive board at Sberbank, including Torbakhov and Gref themselves. (Reporting by Tatiana Voronova; Writing by Katya Golubkova; Editing by Jan Harvey)

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