The chief financial officer of Russian state lender VTB, who left the bank today, is to become head of Barclays' global retail and commercial banking business in Russia in move the bank says is vital for it to "diversify internationally".

Nikolai Tsekhomsky, whose appointment is subject to approval from the Central Bank of Russia, will take over from Sergey Radchenkov at the helm of Expobank, Barclays' retail and commercial business in Russia.