Russian equity funds surge to 20-week high

March 12, 2010

By Marcus Williams
Russian equity funds surged in the week to March 10, posting their highest inflow in 20 weeks as investor appetite returned to emerging markets.
Russia-dedicated funds registered $411min net inflows last week, according to global fund trackers Emerging Portfolio Fund Resources. This outpaced inflows for other countries in the [...]

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Alfa Group to replenish banking staff after cuts last year

March 12, 2010

By Andrei Skvarsky
Russia’s Alfa Group plans to start hiring new staff this year for its corporate loan division and various retail services after cutting it its banking division in 2008 and 2009.
Alfa reduced its banking personnel by 15 percent in the wake of the financial crisis, with the most cuts falling on [...]

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East Capital boosts its board with Vimpelcom CEO

March 12, 2010

By Ivan Anderzhanov
East Capital, the Eastern European fund manager, has boosted its board with the recruitment of Alexander Izosimov and Dick Lundqvist as independent directors..
Alexander Izosimov is chief executive of VimpelCom Ltd, one of the two largest mobile operators in Russia.  Lundqvist is partner and chairman at the Stockholm-based law [...]

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S&P raises Ukraine’s Rating From CCC+ to B-

March 12, 2010

Anton Tabakh, senior analyst at Troika Dialog
S&P this morning raised Ukraine’s rating from CCC+ to B-, citing a decline in political risks. The agency believes that the formation of a new government coalition will create the basis for improved political coordination and the revival of relations with the [...]

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State Street turns its attention to Russia with ETF launch

March 11, 2010

By Ivan Anderzhanov
State Street Global Advisors, the US investment giant which terminated its seven-year Russian joint venture in 2005, today launched its first Russia ETF.
The Boston-based manager is one of only two fund managers offering investment exposure to Russia using Exchange Traded Funds.
The SPDR S&P Russia ETF seeks to track the performance of the S&P [...]

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Moscow recruiter Antal hires former Rencap recruitment head

March 11, 2010

By Andrei Skvarsky
Russian recruitment firm Antal has hired Karl Franzmann, a former director of recruitment at Renaissance Capital, the Moscow-based emerging markets bank.
Franzmann, whose tenure at Renaissance Capital coincided with the bank’s initial rapid expansion into sub-Saharan Africa and other developing markets, has over ten years of experience in executive recruitment and executive search. More [...]

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FORTS futures forex deals top 2009 liquidity list – RTS

March 10, 2010

By Andrei Skvarsky
Euro/dollar and euro/rouble foreign exchange futures contracts launched on the derivatives market of Russian stock exchange RTS were the world’s most liquid financial derivatives to take effect in 2009, RTS said on March 9, citing a leading specialist global magazine.
A 2009 ranking list compiled by Futures and Options World (FOW), a magazine on [...]

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Sberbank in the running to buy Turkey’s Garanti bank

March 9, 2010

By Ivan Anderzhanov
Russia’s state-controlled Sberbank is bidding for a 20.85% stake in Garanti Bank, Turkey’s largest bank, along with six other possible contenders.
Sberbank is making a bid for a $3.7bn stake being sold by General Electric as part of its strategy of expanding overseas, according to a Reuters report today.
The state-savings bank has previously earmarked [...]

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Aton Capital sets its sights on offices in London and Almaty

March 8, 2010

By Ivan Anderzhanov
Russia’s Aton Capital is to open offices in London and Almaty a year after the investment banking business was relaunched.
The Moscow-based equity brokerage is looking to expand further in the UK and Kazakhstan having already hired a 50-strong Moscow team , according to a report in Vedomosti.
Evgeny Yuriev, the president and founder of [...]

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Al-Shams CEO eyes promoting Islamic finance in Russia

March 8, 2010

By Mushtak Parker | Arab News
Adalet Djabiev is the “comeback kid” of Russian Islamic financial services. He is also part of the new generation of Russian bankers that have mushroomed in the post Soviet Union era and is passionate about giving the country’s 20 million plus Muslims access to Islamic financial services and products, which [...]

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Commerzbank increases stake in Ukraine’s Bank Forum to 90%

March 5, 2010

By Ivan Anderzhanov
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Germany’s Commerzbank has lifted its stake in Ukraine’s Bank Forum to 89.3% from about 63% after snapping up shares from investor Leonid Yurushev.

Commerzbank agreed to buy a stake of 26.25% for an undisclosed price that was indirectly held by Yurushev.
The German bank in September 2007 agreed to buy a majority stake in Bank [...]

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Nevsky’s $3.3bn fund to be liquidated as managers step aside

March 4, 2010

By Marcus Williams
A $3.3 billion emerging markets fund run by Nevsky Capital managers Martin Taylor and Nick Barnes is to be wound down over the next 12 months after the pair decided to step down.
Nevsky Capital said yesterday Taylor and Barnes had given 12 months notice they would stop running the  Nevsky hedge fund from [...]

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