Emerging Markets, Emerging Russia, Emerging Views
By Marcus Williams
Kazakhstan’s Eurasian Bank has bought a Troika Dialog subsidiary bank in Almaty for an undisclosed amount in a bid to expand its business abroad.
Eurasian is controlled by the principal owners of London-listed Kazakh mining company Eurasian Natural Resources Corp.
Troika, which sold a third stake to South Africa’s Standard Bank in March, bought the [...]
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By Marcus Wlliams
The East Capital Russian Fund run by the Swedish investment firm has returned 1,524% in dollar terms during the past decade which is 561% better than the second best fund and 826% better than the benchmark index RTS over the same period.
The fund has – since its inception in 1998 – invested in [...]
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By Ivan Anderzhanov
Deutsche Bank is to hire Ilya Yuzhanov, a former anti-monopoly minister, as managing director of Russia and the CIS.
According to reports in today’s Russian press, Yuzhanov will join Deutsche on December 21 and will report to Igor Lozhevsky, chief country officer for Deutsche in Russia.
Yuzhanov is chairman of Russian silver producer Polymetal, Russia’s [...]
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By Marcus Williams
Bank of America Merrill Lynch today named David Jervis as head of Merrill Lynch Wealth Management for Europe, the Middle East and Africa (EMEA) to succeed Eva Castillo when she departs at the end of the year.
Jervis, a 16-year Merrill veteran, is currently head of Bank of America Merrill Lynch’s Senior Relationship Management [...]
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By Ivan Anderzhanov
A police general linked to the case of British hedge fund Hermitage lawyer Sergei Magnitsky, who died in jail last month, has been sacked, according to a Russian presidential decree
Magnitsky, who was awaiting trial on tax evasion charges, died last month in prison after nearly a year of incarceration. The Russian Prosecutor General’s office said [...]
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While the majority of hedge funds in the region have their operations located in the Brazilian cities of Sao Paulo or Rio de Janeiro, Argentina, despite the political and economic uncertainty that continues to affect the country, has attracted its share of funds as well. Almost all funds located in the country are headquartered in [...]
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By Ivan Andezhanov in Moscow
Russian investment bank Renaissance Capital plans to hire between 200-300 people over the next 12 months by tapping bankers exiled from London by a tax on bonuses.
Roland Nash, Rencap’s head of research, said a new super-tax on bonuses would be make it easier to lure the the Square Mile’s best talent [...]
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By Marcus Williams
Russian biotechnology company Human Stem Cell Institute (HSCI) yesterday sold 20% of its shares in an initial public offering (IPO) raising 143.5 million rubles ($4.8m) on the Micex exchange in Moscow.
HSCI sold 15 million additional shares at 9.5 rubles per share on the MICEX’s new sector for innovation and growth companies. Russia’s first [...]
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By Ivan Anderzhanov
Japanese investment bank Nomura today announced that Michael Hagmann is joining the firm as a managing director in January to head capital goods, aerospace and defence equity research for EMEA.
Hagmann returns to the sell-side after leaving Swiss bank UBS in 2007 when he became a partner in the industrials boutique, H2W.
“Michael Hagmann is [...]
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By Marcus Williams
Russian investment bank Renaissance Capital today announced it was opening a representative office in Belarus in anticipation of a state-sponsored sell-off of assets by the former Soviet state.
The office will be led by Sergey Levin, who joins the firm as chairman of Renaissance Capital in Belarus, and will be based in Minsk. The [...]
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By Marcus Williams
Russian state development bank Vnesheconombank (VEB) has signed a partnership agreement with the Bank of Tokyo-Mitsubishi UFJ, Japan’s largest bank, to stimulate trade between the two countries.
The banks plan to develop their partnership in the support of exports and investment projects in Russia.
Under the agreement, the two institutions plan to promote cooperation in [...]
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By Ivan Anderzhanov in Moscow
Investment bank Renaissance Capital has advised clients on three M&A deals in the space of a week as green shoots of deal-making appear in Russia.
Rencap last week acted as exclusive advisor to Swedish-listed Malka Oil which sold its main production assets in Tomsk to GazpromNeft for $118m.
Bankers from Rencap and Canaccord [...]
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