By Marcus Williams in London
Russian investment bank VTB Capital is planning a “second wave” of hiring at a senior level.
The new hires will be made at a senior level, according to Andrei Kostin, who was speaking at the Davos Conference in Switzerland.
The brokerage’s first wave of hiring was orchestrated by its chief executive Yuri Soloviev, who was brought on board from Deutsche Bank. He helped stage the exodus of over 100 bankers to VTB, which left the German bank in Moscow reeling.
The hiring was done in waves, with the senior people moving following Soloviev within a day or two, followed later by their more junior bankers. Even the entire Deutsche press and marketing team decamped to VTB.
VTB subsequently hired bankers from a roster of banks, including Renaissance, Troika, and UBS.
A hiring freeze was implemented earlier last year in the wake of the economic crisis.
The original plan hatched by VTB group chief executive Andrei Kostin was to build a corporate finance bank centered on Moscow Narodny Bank, the state-owned London bank which had a presence in international debt markets. The idea mushroomed into a full service investment bank and Julia Chupina was hired from consultants McKinsey to devise a strategy.
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