Emerging Markets, Emerging Russia, Emerging Views
Alexander Nazarov has defected to Troika Dialog from Credit Suisse, where he worked as director of the investment banking.
Nazarov will join Troika as managing director in investment banking and will report to Jacques Der Megreditchian, Managing Director, Head of Investment Banking and Global Markets at the Troika Dialog Group. Prior to Credit Suisse, Mr. Nazarov [...]
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Jason Corcoran in Moscow.
Renaissance Capital has won a duel with Credit Suisse over London-listed Sibir Energy after a lightning strike by the Russia bank trumped a book-build offer by the Swiss bank.
Acting for oil producer Gazpromneft, Rencap acquired over 16% of Sibir last Thurdsay after trumping a rival offer by TNK-BP valuing the oil producer [...]
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Jason Corcoran in Moscow.
Nick Jordan, a leading Russia rainmaker, has been squeezed out from Japan’s Nomura bank in a move which could signal the end for Moscow’s superannuated foreign bankers.
A report by Financial News said Nomura had reneged on a original deal to appoint Jordan as head of the combined Nomura-Lehman Brothers business in Moscow [...]
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The Federal Service for Financial Markets, Russia’s main market regulator, is to relax rules on what pension funds can invest into and so broaden the number and kinds of assets available to fund managers.
The draft laws will be submitted to the government by the end of May according to Sergei Kharlamov, deputy head of the [...]
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Jason Corcoran in Moscow
UK investment bank Barclays Capital is steadily growing its Moscow operation and is getting set to hire new teams for equity capital markets and mergers and acquisitions.
BarCap currently has about a dozen bankers in Moscow working in debt capital markets.
Speaking to Financial News, Barcap chairman Hans-Joerg Rudloff said: “Eventually we want [...]
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Jason Corcoran in Moscow
British insurance giant Aviva has signed an agreement to acquire Dutch group ING’s non-state pension fund business and its holding company in Russia.
The pension fund, which had assets under management of £30.4m at 31 December 2008, provides pensions to large multi-national corporate clients and has 17,000 members. The gross assets of the [...]
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Russia’s international reserves declined for the second straight week as the strengthening dollar caused a currency revaluation. The world’s third-largest stockpile declined $1.1bn in the week to April 10 to $383.9bn, the Moscow-based central bank said yesterday. Reserves dropped $3bn in the previous week for the first fall in three weeks.
“We put the fall in [...]
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Jason Corcoran in Moscow.
Investors fishing for emerging markets prefer to cast their line for commodities in Brazil rather than cast into Russia’s waters.
The latest data last week from Emerging Portfolio Fund Research indicate new inflows into funds covering Brazil worth $462m while Russia funds reported a measly intake of $18m.
While capital flows into Russia-dedicated [...]
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Jason Corcoran in Moscow.
Korean and Russian equities were the two strongest performers amongst global markets during March.
The MSCI Russia Index rose by 20.3% during the month, not too far behind the stellar 26% growth of Korean equities.
Russia’s equity market significantly outperformed the MSCI Emerging Markets EMEA Index, which rose +13.5% in the same month. The [...]
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Jason Corcoran in Moscow
VTB Capital, the Russian state-controlled investment bank, is to acquire a brokerage on Wall Street in an effort to gain a foothold stateside.
The burgeoning operation, which has it main hubs in Moscow, London and Singapore, is also considering targets in the UK and Asia. The Russian player is believing to be looking [...]
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Jason Corcoran in Moscow
Banks in the BRIC world of emerging markets are in better nick than their counterparts in the US and Europe, according to Allianz Global Investors, one of the world’s largest active fund managers.
Allianz, a investment subsidiary of the German insurer with £850bn under management, said the lack of exposure to the toxic [...]
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