HSBC Private Bank has appointed Nicolai Gurbatov as an associate director for its Central Eastern Europe team, WealthBriefing can exclusively reveal.

Mr Gurbatov was formerly a banker withGoldman Sachs in Moscow. He now reports to Agnieszka Majdanska, head of Eastern Europe at HSBC in London.

As exclusively reported by this publication earlier this week, Pictet, the Geneva-based private bank, recently raided a four-strong team of bankers from the Zurich office of Goldman Sachs.

The team will cover the Italian-speaking market out of Zurich as part of Pictet’s previously announced plans to expand its wealth management business in Switzerland’s largest city. The members of the team, who have not yet been named, are to join Pictet by October.