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New Sberbank Board Forms

Morgan Stanley's Russia chairman Rair Simonyan was nominated to join the board of Sberbank after President Dmitry Medvedev ordered government officials to step down as directors at state-controlled companies.

Economic Development Minister Elvira Nabiullina and Medvedev's economic adviser Arkady Dvorkovich withdrew from the list of candidates, Sberbank said Tuesday in an e-mailed statement. Kazakhstan's Economic Development and Trade Minister Kairat Kelimbetov also declined a nomination.

Mikhail Matovnikov, head of corporate development at Interfax, and Alessandro Profumo, former chief executive of UniCredit and a Sberbank adviser on international expansion, may also join the board.

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