Sergei Dubinin, head of the Central Bank of Russia, was in town to appoint Ms Savinskaya to her new post.
Ms Savinskaya is "very comfortable to work with," according to Alexei Kudrin, head of the Mayor's Office financial committee.
Victor Khalansky, the previous chief of the St Petersburg branch of the Central Bank, raised hackles in the banking and finance industry during his term.
He was the target of heavy disapproval from both Mr Kudrin as well as the banking world last fall when many of St Petersburg's banks began to stumble.
Mr Khalansky was blamed by major banks for the crisis, and many banking officials said he had mismanaged the sector.
Ms Savinskaya is recognized by the local banking community as a highly qualified professional, according to experts.
Mr Khalansky was appointed as a special advisor for the Central Bank in St Petersburg last month.
According to many banking insiders, the position was created especially for him.
Mr Dubinin met local bankers and attended the meeting of a local bankers' club.
He made few public announcements but said changes would come in Russia's financial world, including the reduction of mandatory reserves from 20% to 18% beginning May 11 and a system of penalties for banks that fail to meet the reserve.
He said he believed the inflation rate in Russia over the year may total 25% with only 1% by the end of the year. (SPP)