Goldman Sachs loses out as Russia announces winners of ‘Golden Ticket’

February 8, 2010

By  Ivan Anderzhanov
Bulge bracket bank Goldman Sachs was the big loser after last Friday’s annoucement of the banks to manage Russias upcoming sovereign eurobond issue.
Barclays Capital, Citigroup, Credit Suisse and domestic bank VTB Capital are arranging the deal, according to a statement from the Finance Ministry.
US bank Goldman Sachs had been involved in pre-marketing for [...]

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COMMENT: Kazakhstani non-performing loans continue to decline

February 8, 2010

By Rustam Botashev, Equity Analyst at UniCredit Securities
Kazakhstan’s Financial Supervisory Agency (FSA) published preliminary banking statistics for 2009.
Our view: The banking sector’s losses for the year totalled KZT 2,837bn ($19.1bn), or KZT 127bn ($0.9bn) excluding the two defaulted banks (BTA Bank and Alliance Bank).
Retail loans declined by 4.8% yoy and corporate loans rose by 7.3% [...]

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Rencap to add 30 staff following acquisition of FX business

February 5, 2010

By Ivan Anderzhanov
Russia’s Renaissance Capital said that it will add a further 30 staff to its dedicated emerging markets foreign exchange team following is announcement of a deal to buy 100% of Leadbank from the Bank of Cyprus.
The bank signed an agreement yesterday with Bank of Cyprus to acquire 100% of the share capital [...]

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TNK-BP $1bn Eurobond shows the way for sovereign issue

February 4, 2010

By Ivan Anderzhanov in Moscow
TNK-BP, the Anglo-Russian petroleum joint venture, yesterday mandated British banks Barclays Capital and Royal Bank of Scotland, along with France’s Calyon to manage the issue of Eurobonds worth $1bn.
The Russian state is expected to shortly name a roster of banks to manage the issue of $3-5bn in Eurobonds in its first [...]

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SocGen hires ex-Alfa banker as head of Russian M&A

February 4, 2010

By Ivan Anderzhanov
French bank Societe Generale has hired former Alfa banker Rafael Nagapetiants as head of the mergers and acquisitions business in Russia.
The recruitment of Nagapetiants , who was previously head of corporate finance at Russia’s privately owned Alfa Bank, is part of a revamp of SocGen’s M&A team.
Before Alfa, Nagapetiants was SUN Group’s director [...]

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Troika Dialog Slips from Top 3 Asset Management Ranking

February 3, 2010

By Ivan Anderzhanov
Russia’s Troika Dialog has slipped from its long-standing position as one of the country’s top three asset management companies, according to data from the National Rating Agency.
Troika’s assets under management had fallen to 79.2bn rubles ($2.62bn), putting it in fifth place by the end of 2009, according to a report in Vedomosti.
Pavel [...]

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LSE and Micex deepen ties with launch of Russian IPO platform

February 2, 2010

By Ivan Anderzhanov in Mosocw
The London Stock Exchange and the Micex today launched a Russian IPO information platform to serve the growing pipeline of Russian companies seeking to list overseas.
The site, which is located at www.RussianIPO.com, provides companies, advisers and market participants with access to trading information, news and statistics from Russia and the CIS [...]

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Otkritie boosts Investment Banking team

February 2, 2010

By Marcus Williams
Fast-growing Russian brokerage Otkritie has lured Temo Jorbenadze from VTB Capital as head of Investment Banking’s Financing Services Group.
Otkritie, which has doubled in size in the last year, also hired Dmitry Perman as a director from the Moscow-based boutique advisory firm Advance Capital.
Jorbenadze was a director for investment banking at VTB Capital in [...]

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Rencap continues hiring spree with Metals & Mining recruits

February 1, 2010

By Ivan Anderzhanov
Russia’s Renaissance Capital has boosted its London-based metals and mining capabilities with the appointment of Roger Murphy as head of metals and mining sales and Jeremy Wrathall as head of London metals and mining origination within the investment banking division.
Murphy joins from Canaccord, where he has been head of resource and international sales [...]

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Foreign banks and investors to invest up to $170m in Russian bad debt

February 1, 2010

Rustam Botashev, Equity Analyst at Unicredit Securities
Foreign financial institutions intend to invest up to $170m in overdue loans in Russia, Kommersant reports. The IFC alone, through collection agency KG EOS Holding GmbH & Co, plans to invest $50m in bad debt.
Our view: The total volume of overdue loans in Russia stood at RUB 1,043 [...]

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