Emerging Markets, Emerging Russia, Emerging Views
By Ivan Anderzhanov in Moscow
VTB Capital and France’s BNP Paribas have acted as joint book-runners on Sfr 750m ($700m) two-year Eurobond issue for VTB Bank, the parent of VTB Capital.
The deal was significantly oversubscribed which allowed to increase the initially announced size Sfr 150m to Sfr 450 and then to Sfr 750m.
VTB, Russia’s second largest [...]
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Yevhen Hrebeniuk, Senior Equity Analyst at Troika Dialog Ukraine
The International Monetary Fund’s executive board has completed its second review of Ukraine under the standby loan arrangements and has decided to extend the third tranche of $3.3 bln. The total amount disbursed to Ukraine now stands at $10.9 bln.
The board also modified the performance criteria, softening [...]
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Russian investment banks VTB Capital has boosted it equity trading desk with the recruitment of Vlad Markovskiy and Denis Gorvat.
A VTB source said Markovskiy was joining from Swiss bank UBS while Gorvat had been tapped from Dutch bank ING.
VTB, a state-controlled entity which launched just over a year ago, wants to build on its [...]
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By Jason Corcoran in Moscow
Fund giant Templeton Asset Management is considering boosting its investment in Russia five-fold to as much as $10bn within two years. Such a move may indicate that Western institutional investors are getting ready to make a seismic realignment away from developed economies by shifting sizeable funds into emerging markets.
Jerome Booth, head [...]
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By Rustam Botashev, Equity Analyst at Unicredit Securities
Total non-performing loans (NPLs) in Kazakhstan reached 30.8% as of 1 July, but a more manageable 14.4% excluding BTA and Alliance, and we expect a gradual economic recovery to keep banks from being washed away in an NPL flood.
The aggregate 30.8% figure [...]
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By Ivan Anderzhanov in Moscow
Mergers and acquisitions activity in Russia show signs of bouncing back in the first half of 2009, after plummeting in the second half of last year, according to a report from KPMG.
Transactions worth a total of $18.3bn were carried out on the second quarter of this year – twice as [...]
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By Jason Corcoran in Moscow
Emerging markets fund specialist Ashmore Investment Management is expanding its global footprint by opening offices in China and Japan and potentially in Russia.
A source close to Ashmore said it was already recruiting for an operation in China, along with a sales office in Japan. A formal presence in Russia is expected [...]
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By Ivan Anderzhanov
The RTS stock exchange posted a new record in trading volume during evening trading session on its FORTS derivatives platform.
By the end of the main trading session on July 23, the total trading volume for futures and options had reached $614m which accounts for 35.26% of the daily turnover.
The previous record [...]
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The relaunched investment banking business of Aton Capital has hired a senior analyst and an equity sales executive previously employed by Renaissance Capital.
Ivan Nikolaev and Maxim Kabanov join Aton as a senior analyst and a vice president of equity and fixed income sales, respectively. Nikolaev had been an analyst covering Russia agriculture and pharma [...]
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By Ivan Anderzhanov in Moscow
Merrill Lynch has recruited Sergey Babayan from Russian bank MDM as managing director and co-head of the bank’s global markets team in Moscow.
Babayan will work alongside Merrill’s country head Bernie Sucher in global markets and will also have have responsibility for all fixed income currencies and commodities (FICC) salespeople and [...]
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Angelika Millendorfer, Head of Emerging Markets Equities at Raiffeisen Capital Management.
Russia’s equity market was one of the biggest losers last year. But since the beginning of 2009, it has been one of the top performers even though a strong correction swept the market in June and July. So far prices are up by around 40% [...]
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Jason Corcoran in Moscow
Dmitry Kryukov, the co-founder of the hedge fund firm Kazimir Partners, has left to pursue other projects.
Kazimir, a hedge fund firm with offices in Moscow, London, New York and Baku, was set up by Frank Mosier and Kryukov in 2002 after the pair left the investment bank Renaissance Capital.
Kazimir declined to [...]
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