Daubaras and Crachilov will be based in London and will report to the head of JP Morgan’s Russian private banking team, Elena Griffin.

Daubaras has 13 years’ of experience across investment banking and private equity, and was latterly a director at BNP Paribas, in equity capital markets, and head of Russia, CIS and CEE. Prior to that, he had held a number of roles at Citigroup, Credit Suisse and Merrill Lynch, and was also a partner at Spencer House Capital Management.

Crachilov, on the other hand, joins JP Morgan from HSBC Private Bank, where he was an investment counsellor on the Russian and Eastern European team. Before that, he was a director at Troika Dialog, where he had managed the bank’s principal investments in the financial sector and also the launch of the bank’s first UCITS-compliant offerings.