Russia’s Sberbank Private Banking has continued a recent run of hires with the appointment of Vasiliy Sofiyskiy as managing director and head of its ultra high net worth client group.

Sofiyskiy joins from Credit Suisse, where he had worked since 2007 as a director and investment partner of a group overseeing major private clients in both Zurich and Moscow. Specifically, he developed financial solutions for clients, drawing on the capabilities of Credit Suisse’s investment banking and asset management divisions.

In his new role Sofiyskiy is charged with continuing to develop and support Sberbank’s book of HNW private clients as well as maintaining a single point of entry for all financial decisions made for these clients, the bank said in a statement.

While Russia’s wealth management market is developing exponentially, Sberbank has also said it is keen to open up its private banking services increasingly to European clients.

Earlier this week Sberbank Private Banking appointed Anna Tokaeva as managing director, head of group.

Tokaeva was latterly executive director/head of UBS Global Asset Management Russia and executive director of UBS Wealth Management’s Russian representative office.

Sberbank joined forces with Troika Dialog to create the country's largest universal banking institution at the start of the year.