OAO Sberbank, Russia’s largest lender, said a senior equity trader and a salesman from its investment banking unit have left the company.
German Nikonenko and Boris Krasnenkov departed the firm, the Moscow-based bank said in an e-mailed statement today, confirming a Bloomberg News report. Nikolay Shamkhalyan, a junior futures trader, also left, according to Sberbank, which said the decisions were “connected with their respective personal plans.”
Brokerages in Russia, including Renaissance Capital and IFC Metropol, have been cutting staff, citing shrinking margins. ING Groep NV (INGA), the biggest Dutch bank, said in October it will close its Russian equities unit, while UniCredit SpA (UCG) said in June it would shutter its securities operation. Credit Suisse Group AG is moving its Russian capital-markets and advisory units from Moscow to London to cut costs, two people familiar with the matter said in December.
Nikonenko, named trader of the year by industry group Naufor in 2003, didn’t answer calls to his mobile phone. A woman who answered Krasnenkov’s office number said he was no longer with the company and declined to give her name.
To contact the reporters on this story: Jason Corcoran in Moscow at email@example.com;
To contact the editor responsible for this story: Frank Connelly at firstname.lastname@example.org