Russia’s Medvedev hires ex-banker as adviser

President Dmitry Medvedev hired one of Russia's most prominent investment bankers as an adviser on social issues such as pensions, state benefits and wages on Tuesday, local news agencies reported.

Medvedev signed a decree appointing Yevgeny Yuriev, the 39-year-old founder of Aton investment bank, as one of his 10 advisers, the Kremlin said. Interfax news agency said he would be advising Medvedev on social issues.

Social spending is an important brief for Russia's leaders as the Kremlin has increased spending ahead of the 2012 presidential election.

Yuriev, who set up his Aton brokerage business at the age of 20 and then sold it in 2007 for $424 million, fills a Kremlin vacancy created when Mikhail Zurabov was appointed Russia's ambassador to Ukraine.