Russia’s MDM Bank has bolstered its private banking division with two senior hires.

Sergey Borovikov has been appointed as vice president and head of the private bank directorate, while Ineta Done will head the private banking activities of MDM's Stolitsa Territorial Bank.

Borovikov was latterly head of the high net worth clients department at Sberbank, developing the "Sberbank One" private banking service during his three-year tenure. Before this he was vice president and head of the VIP client department at Alfa-Bank.

In his new role Borovikov will be responsible for developing and implementing MDM Bank's private banking strategy, including its product offering, marketing policy and territorial development.

Done was previously head of head of private banking within the private capital management directorate of Bank Citadele (Latvia). Before this she held various management positions at Parex Banka (Latvia), including vice president, head of the network management department and chief of the private banking arm.

In her new role Done is charged with broadening MDM’s range of premium banking services and increasing its client base in Moscow and St Petersburg.