Emerging Markets, Emerging Russia, Emerging Views
By Jason Corcoran in Moscow.
Russian investment bank Renaissance Capital is axing its annual investment forum showcase in Moscow following a turbulent nine months when it has been forced to cut 50% of its staff and sell half of the company to billionaire oligarch Mikhail Prokhorov.
The three-day forum has in the past attracted thousands of investors [...]
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Jason Corcoran in Moscow.
Royal Bank of Canada (RBC), the world’s seventh largest bank by market capitalization, is plotting its launch into the Russian market.
EmergingMarkets.me can exclusively reveal that RBC’s Wealth Management arm is to open a representative office in Moscow later this year due to “local client demand.”
Michael Lagopoulos, president and chief executive of the [...]
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Swiss bank UBS has hired Maxim Moshkov from US hedge fund giant Farallon Capital Management to run the bank’s oil and gas research team in Moscow.
Moshkov, who had worked at the UBS Brunswick joint venture in Moscow from 2001-2005 as an oil and gas analyst, replaces Dmitry Lukashov, who left the company last month without [...]
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Hires and Fires
William Donovan, head of Goldman Sachs‘ mergers and acquisition for oil and gas, has left the bank’s Moscow’s operation to join Deutsche Bank.
A report in today’s Financial News Online said Donovan has taken up a similar position at Deutsche.
His departure follows that of former executive director of equity sales Michael [...]
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Jason Corcoran in Moscow.
A hiring freeze across Moscow’s big banks and brokerage firms is starting to thaw as hunger pangs for Russian risk appetite begin to rumble.
VTB Capital, the investment banking subsidiary of VTB Bank, is leading the way by putting hiring back on the agenda. The bank recruited two senior sales executive recently and [...]
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Jason Corcoran in Moscow.
Jeffrey Costello, chief executive of JP Morgan in Russia, is stepping into the investment banking breach following the surprise departure of bank’s rainmaker Natalia Tsukanova to work for the Kremlin.
JP Morgan said Costello had taken over Tsukanova’s duties temporarily following her departure last month to take up a role advising the Russian [...]
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Japanese investment bank Nomura has boosted its Russian research effort with the appointment of Ivan Tchakarov as an economist and Vladimir Zhukov as an equity analyst.
Tchakarov, a Russian economist, is to be based in London while Zhukov will cover steel and raw materials from Nomura’s Moscow base. Zhukov had previously worked at Lehman Brothers for [...]
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Jason Corcoran in Moscow.
British banking giant HSBC is pushing ahead with its aggressive $200m expansion into Russia retail and private banking in spite of the global economic slowdown and its management’s bleak analysis of a recovery.
A senior source at HSBC in Moscow told Emeringmarkets.me that the bank will open its first five branches in Russia [...]
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Exclusive: Hires/Fires
Russian investment bank VTB Capital has recruited sales gunslinger Michael Capone from Goldman Sachs in Moscow for its own growing equity sales team.
The VTB press office declined to comment whether the recruitment of Capone represented an end to its hiring freeze.
American Capone, an executive director at Goldman Sachs in Russia, joined Goldman’s in December [...]
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Jason Corcoran in Moscow.
Russian President Dmitry Medvedev has signed into law a bill regulating placement and trading of foreign-issued securities in Russia.
The move, when it is actually sealed and delivered, should allow Moscow’s stock exchanges to compete with Warsaw which has been winning issuance from Ukraine and other countries in the former Soviet Union sphere.
Citing [...]
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Jason Corcoran in Moscow.
The sluice gates for Russia fund flows look set to be turned on as the trickle grows stronger.
Weekly fund flow by fund trackers Emerging Portfolio Fund Research (EPFR) indicates that institutional investment sentiment may be turning towards Russia. In the week to April 29, Russia dedicated funds reported posted inflows of $122m.
While [...]
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