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Sberbank Hires Walmart Executive

Sberbank will appoint Lev Khasis, a senior executive of U.S. retailer Wal-Mart Stores Inc, as its first deputy chairman, Kommersant reported Thursday.

Khasis joined Walmart in 2011 as senior vice president from X5 Retail Group, Russia's top food retailer at the time, and has been president and chief executive of new formats for Walmart International.

Sberbank is hoping with his appointment to improve the efficiency of business processes and the speed of decision-making, Kommersant reported.

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