MOSCOW, June 20 (Reuters) - The head of Deutsche Bank’s operations in Ukraine, Borislav Ivanov-Blankenburg, is the leading candidate to become the bank’s new chief in Russia, replacing Annett Viehweg who is leaving the lender, a source close to the bank told Reuters.
Viehweg has chaired the board of Deutsche in Russia since November 2015 and her role was expanded last year to include chief country officer in Russia after Pavel Teplukhin stepped down and the bank cut back its presence in the country.
The source said that Tuesday was Viehweg’s last working day at Deutsche in Russia as she was leaving to become head of Sberbank’s subsidiary in Switzerland.
The source said Ivanov-Blankenburg was the leading candidate to succeed her as Russia country chief and chairman of the Deutsche board in Russia but the move needs to be approved by the Russian central bank first. In the meantime, Maria Tiphlova, head of product management in Russia, will be acting CEO, the source said.
Sberbank declined immediate comment. Deutsche Bank, in an emailed response to a Reuters request for comment, said it would not comment on the management changes which have not yet been announced officially.
Deutsche Bank has cut back on its investment banking activities in Russia and is also working with some regulators, including in the United States, over a so-called mirror trades’ investigation that allowed $10 billion to flow out of Russia. (Reporting by Kira Zavyalova and Katya Golubkova; Editing by Susan Fenton)