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Sberbank is now commanded by Gref

November 29 2007

Shareholders of Sberbank of Russia elected the former head of Economic Development and Trade Minister German Gref, Chairman and CEO of the bank. The decision was taken at an extraordinary shareholders meeting on Wednesday, November 28. Powers of the former head of Sberbank Andrei Kazmin terminated in connection with his transfer to another job. He is expected to lead the Post of Russia, reports news agency Interfax .

In electing Gref for president - chairman of the board of the Savings Bank there was no doubt: he was the only candidate. Speaking to shareholders, Gref promised that he would not transfer to the bank "certain people". "I support all the conservative policies of the bank to prevent a withdrawal from the bank's key personnel", - he said. The next 1-2 weeks the newly-born banker, decided to devote to learning about the staffing and management attitudes. According to him, until mid-2008 he will step down in the majority state-owned companies (more than ten). "I figured there state, not an individual" - said Gref.

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