Sberbank: The Rebirth of Russia’s Financial Giant

Sberbank of Russia was transformed from the old-school institution with outlived Soviet practices into a decent member of the world's financial elite and one of the richest brands on the planet. But the transformation didn't happen overnight. In fact, Sberbank reform was an unprecedented event in the history of Russian business. Never before was such a large post-Soviet establishment subjected to such a radical and total make-over. German Gref, ex-minister and well-known liberal thinker whose ambitious plan was to turn this huge, unwieldy institution into an advanced financial company, initiated the reform in 2007. Subsequently, his team essentially answered the key question of Russian business: can the Russians perform on the same level as Western workers? Russian journalist Evgeny Karasyuk conducted dozens of interviews with employees of Sberbank on different levels. The result is a breathtaking economic thriller telling a remarkable story of how progressive management techniques were implemented in post-Soviet reality and resulted in formation of a new business model for Russian financial institutions.