BNY Mellon boosts Russia business with VEB mandate

July 29, 2010

By Marcus Williams
The corporate trust of BNY Mellon has been hired as trustee, paying agent, calculation agent and transfer agent for Vnesheconombank’s $30bn loan participation note programme.
Vnesheconombank, Russia’s state development bank, was founded in 1924 and emerged as a cornerstone bank during the crisis.
BNY Mellon will provide VEB with all of its debt servicing and [...]

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Daiwa boosts fixed income in Korea and India

July 29, 2010

By Marcus Williams

Japan’s Daiwa Capital has appointed Jung Insuk as head of fixed income in Korea and Ajay Marwaha as head of fixed income in India in an expansion of the business.
Insuk joins from Shinhan Investment Corp., where he was head of fixed income, currency & commodities. Prior to this, he was responsible for [...]

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Renaissance boosts fund management team

July 29, 2010

By Marcus Williams
Renaissance Asset Managers, the investment unit of Renaissance Group, has hired Dmitry Mikhailov from Uralsib as a fund manager.
Mikhailov will run two of Renaissance’s Russian equity retails funds known as PIFs and co-manage the RenShares Utilities Fund, which Sergey Bubnov lead manages.
Mikhailov was at Uralsib as portfolio manager on sector PIFs as well [...]

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Prosperity Capital raises just $150m for Quest 11

July 28, 2010

By Ivan Anderzhanov
Prosperity Capital, Russia’s biggest portfolio fund manger, has raised just $150m for its Quest 11 special situations fund, well below its $500m target.
The original Quest’s taggering 3,000 plus returns over a decade were not enough to entice more institutional investors to part with their money.
Investors in the new vehicle include Nordic, Continental European and [...]

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Russian state to relinquish control of Micex in IPO

July 28, 2010

By Andrei Skvarsky
The Micex company is planning an initial public offering which will see the state-backed bourse relinquish its controlling share.
The company sets itself the deadline of the end of 2011 for taking over Micex, where the Russian Central Bank is the main shareholder. The Central Bank wants to keep a stake in the Micex [...]

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VTB hires Vladimir Potapov from Troika for asset management

July 27, 2010

By Ivan Anderzhanov.
VTB Capital is continuing its aggressive expansion with the recruitment of Vladimir Potapov from Troika Dialog to the position of head of portfolio management business of VTB Asset Management.
Potapov will supervise the strategy development and implementation in Portfolio Management Business. VTB said the new appointment will “strengthen [...]

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COMMENT: State could sell stakes in 10 major companies and banks

July 26, 2010

Vladimir Kuznetsov, Equity Analyst at UniCredit Securities.
The state is ready to sell stakes in 10 of the largest state-controlled companies and banks in 2011E-2013E, raising at least $30bn and partly covering the budget deficit, Reuters reports, quoting sources at the Finance Ministry. Prime Minister Vladimir Putin reportedly approved the idea in principle at the [...]

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VTB Capital hires private equity specialist and consultant

July 26, 2010

By Andrei Skvarsky
VTB Capital has made two high-profile hirings by appointing Andreas Boesenberg, a former partner at a German investment boutique, as deputy head of private equity and special situations and taking on Iain Grosvenor from Credit Suisse as a consultant.
Boesenberg, who will be based in Moscow, was a partner at Wermuth Asset Management (WAM), [...]

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Credit Suisse finally appoints Steven Hellman as head of Russia

July 23, 2010

By Ivan Anderzhanov.
Credit Suisse has named internal candidate Steven Hellman to lead its business in Russia and the CIS after scouring the entire market for a replacement for Fawzi Kyriakos-Saad.
Kyriakos-Saad recently moved to London to replace Eric Varvel as head of Europe, Middle East and Africa region. Varvel has been named [...]

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EXCLUSIVE: Alfa-Bank denies rumours head of corporate finance is leaving

July 23, 2010

By Andrei Skvarsky
Alfa-Bank, oligarch Mikhail Fridman’s investment banking group, has denied rumours Gene Movdavsky is stepping down as head of corporate finance.
Insiders said Moldavsky, who joined Alfa-Bank in 2007 after resigning as executive director at Swiss bank UBS, is leaving but Alfa’s international media office told EmergingMarkets.me this was not true.
An employee at Moldavsky’s [...]

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Star fund manager quits London for bank in… Kazakhstan

July 21, 2010

By Marcus Williams
Cem Habib, a partner and head of the fund of hedge funds business at Cheyne Capital, has quit the firm to join an investment bank in Kazakhstan.
The Turkish born financier Habib will work in a private equity role with a Kazakh investment bank, according to a Reuters report.
Habib, whose missus had dalliances with [...]

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Vardanian to sell out of Troika?

July 20, 2010

By Andrei Skvarsky
Ruben Vardanian, founder and chief executive of Troika Dialog, is considering selling out of the Moscow-based firm with chances that the oldest brokerage in Russia will slip under Russian state control, according to RBC Daily.
Sberbank and VTB, two state-controlled heavyweights in Russia’s  banking sector, are among potential buyers of Vardanian’s 39.22% stake. Others [...]

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