November 8, 2018 / 1:50 PM / in 11 days

UPDATE 1-Sberbank deputy board chairman to leave post -sources

(Adds Sberbank’s comment)

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 its retail banking 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 declined to comment on Torbakhov’s plans but said that some of his duties have been transferred to other executives. Torbakhov could not be reached for immediate comment.

In June, Sberbank first deputy chairman Maxim Poletayev left his post but continued to advise Gref.

Sberbank’s executive board currently has nine members including Torbakhov and Gref. (Reporting by Tatiana Voronova; Writing by Katya Golubkova; editing by Jan Harvey and Jason Neely)

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