VTB Capital, the investment business of Russia's VTB Group, has appointed Vladimir Androsik as head of investment management as well as general director of VTB Capital - Investment Management, as part of the firm's further business development.

In his new role Androsik will oversee the division's strategic development in areas such as asset management, portfolio investments, venture investments and property and infrastructure investments, the firm said in a statement.

Earlier in his career, Androsik held senior positions in larger Russian firms including the post of financial director at Rostelecom, a telecommunications firm.

In other recent hires, earlier this month VTB Capital added to its research team with multiple appointments from Renaissance Capital, including the appointment of Alexey Moiseev as deputy head of research and head of the macroeconomics research team, and Nikolay Podguzov as head of fixed income strategy.