Both Hughes and Fedorov already hold senior positions at the firm, with Fedorov joining Hughes as co-CEO from his position on the company’s board of directors.
Tinkoff is the largest digital bank in its home country, and operates a range of retail banking services for 15 million customers.
Hughes has been chief executive officer at Tinkoff for 15 years. Fedorov has telecoms, media and technology investment banking experience, having worked for Morgan Stanley and natural resource companies Norilsk Nickel and Rosneft.
Hughes and Fedorov will kick off their joint tenure at the start of December.
