Deutsche Bank has appointed Andrew Chulack and Dmitry Snesar as co-heads of Global Banking in Russia. The appointments come as Ilya Sherbovich, head of Global Banking in Russia and President of Deutsche UFG, steps down to pursue opportunities outside the German Bank. As one of the original founders of UFG, Sherbovich has been with Deutsche since the bank's acquisition of UFG in 2006. He will continue to act in an advisory capacity to senior Russian-based bankers within Deutsche Bank. The day to day management of business will continue with the new co-heads of Global Banking in Russia. They will report to Charlie Ryan, chief country officer and chief executive officer of Deutsche Bank Group in Russia and David Fass, Deutsche Bank's head of Global Banking in Europe, Middle East and Africa. Commenting on the appointments Mr Fass said: "The appointment of both Andrew and Dmitry underscores our commitment to the continued success of Global Banking in Russia. From what I saw when I was in Moscow recently, continued focus on expanding our coverage and delivering innovative investment banking solutions services both our local and cross-border clients."