Category Archives: News

EXCLUSIVE: Aubreck Leung headhunter appoints head of emerging markets research

By Andrei Skvarsky. Aubreck Leung, a London-based financial services executive search firm, has hired James Hicks, previously an employee at Russia’s Trust Investment bank, as head of emerging markets research, the British firm’s managing partner Joseph Leung told EmergingMarkets.me. Hicks was based both in Moscow and in London when working for Trust. “We are delighted… Continue Reading

VTB Capital makes new hires in Middle East and Africa

In line with VTB Capital’s global expansion strategy, James Williams, Head of Middle East Equity Trading, Nick Bye, Middle East Equity Structuring, Karim Nsouli, Head of Middle East Cash Equity Sales & Sales Trading, Ali Salam, Head of Strategic Equity Distribution – Middle East and Ziad Al Amin, Head of Multi Product Origination and Distribution… Continue Reading

VTB Capital announces management changes in its Investment Management business

Dmitry Ivanter has been appointed as the Chairman of VTB Capital Investment Management Executive Committee. The Committee is tasked with the strategic and operational governance of VTB Capital’s Investment Management business, one of the three main arms of VTB Capital’s business. The VTB Capital Investment Management Executive Committee consists of a Chairman, Global Head of… Continue Reading

Sberbank of Russia and Troika Dialog Announce the Closure of their Deal to Create the Largest Universal Banking Institution in Russia

Sberbank of Russia and Troika Dialog announce the closure of the deal to merge the two companies. This landmark event signals the creation of the largest universal banking institution in Russia. The integration of Troika Dialog will enable Sberbank to reach a new level of client service through high-quality financial consultation and a broad choice… Continue Reading

GOLDMAN COMMENT: Europe Needs Growth, not More Austerity

Jim O’Neill, Chairman, Goldman Sachs Asset Management Late Friday, the S&P finally followed through with their early December 2011 threat and downgraded a number of European countries’ credit rating, including Austria and France, who lost their AAA status. This threat had been hanging  over the markets ever since the last EU Summit and, at least… Continue Reading

VTB Capital appoints CEO for Middle-East and Africa

Makram Abboud has been appointed as CEO Middle East & Africa and Co-Head of the International Multi-Product Origination and Distribution group for VTB Capital plc. In both these roles, Makram will be responsible for the development and implementation of VTB Capital’s International Client Franchise strategy internationally and in MENA, where VTB Capital’s goal is to… Continue Reading

VTB Capital announces key appointment in Fixed Income

Philip Hamilton has been appointed Head of VTB Capital’s Global Fixed Income Flow Sales Group. The Group was formed following the strategic realignment and enhancement of VTB Capital’s Global Markets Sales & Origination structure. Philip will be responsible for managing and growing VTB Capital Fixed Income flow distribution franchise with Russian and international clients. Over… Continue Reading

Ovanes Oganisian to Join Troika Dialog as Strategist

Troika Dialog announced the appointment of Ovanes Oganisian as Strategist. In his new position, Ovanes will work closely with Chief Strategist Chris Weafer to provide insightful analysis for Troika Dialog’s client base on what promises to be another fascinating period for Russian and CIS equities. Ovanes comes to Troika Dialog with over 15 years of… Continue Reading

GOLDMAN COMMENT: A New Year Ray of Hope?

By Jim O’Neill, Chairman, Goldman Sachs Asset Management Sticking with my theme of trying to be pragmatic, the first week of 2012 closed with, on the one hand, a few highly interesting developments, and on the other hand, a sense of 2011 déjà vu, especially as it relates to Europe. Following the tone of my… Continue Reading

VTB Capital Appoints CEO For Asia

 Damian Chunilal has been appointed as CEO Asia for VTB Capital and will be based in Hong Kong and oversee the strategic development and further acceleration of the company’s expansion in financial markets across Asia. Mr. Chunilal will report to Atanas Bostandjiev, CEO, UK and International for VTB Capital. Damian Chunilal has more than 20… Continue Reading

Houlihan Lokey is expanding its M&A team

Steven Tishman has joined Houlihan Lokey as Global Head of M&A. Previously Steven was co-head of U.S. M&A at Rothschild. Houlihan Lokey, one of the largest global private investment banks is currently taking steps to actively expand its services in Eastern Europe and the CIS. It currently covers these regions from European offices and have already completed several high-profile mandates in Russia, Kazakhstan and Eastern… Continue Reading

Some BRICs Built But More Still Needed

Jim O’Neill, Chairman, Goldman Sachs Asset Management Tomorrow, Wednesday, November 30 is the tenth anniversary of when I first mentioned the BRIC acronym when I published GS Global Economics Paper No: 66, “Building Better Global Economic BRICs.” As I am sure a number of readers now know, I am publishing a book to celebrate the… Continue Reading

COMMENT: Medvedev raises spectre of new cold war as popularity fades

By Eugene Kasevin. Russian President Dmitry Medvedev has kicked off his own little Cold War just in time for the upcoming parliamentary elections. The move will be widely perceived as rhetorical shot across the bows of the US administration which is planning to build a missile-defense system in Europe. It also serves a rallying cry… Continue Reading

VTB to heavily benefit from Sechin’s privatisation initiative

 By Andrei Skvarsky. State-owned bank VTB would benefit seriously during its planned partial privatisation from a share pricing measure proposed by Deputy Prime Minister Igor Sechin, Renaissance Capital analysts argue. Sechin last week proposed an amendment to the 2011-2013 privatisation programme to ensure that the starting price of a state company in any privatisation deal should not be lower… Continue Reading

Sberbank becomes Europe's 3rd biggest lender

Russia’s state lender Sberbank has become the third largest bank in Europe in terms of  market capitalization. With a market cap of almost $60bn from November 14, the 170-year-old behemoth outranks France’s BNP Paribas, Switzerland’s UBS, Germany’s Deutsche Bank and Britain’s Barklays and Royal Bank of Scotland. Sberbank’s strategic goal by 2014 is to enter the… Continue Reading

VTB Capital plots IPO route through new Hong Kong office

VTB Capital, the Russian state-controlled investment bank, is hoping to arrange “three or four” IPOs through its new Hong Office next year. The bank’s deputy chairman  Yuri Soloviev said the listings would be in the energy and metals and mining sectors, according to the Hong Kong Economic Journal. The Hong Kong team will be boosted… Continue Reading

Wermuth loses second senior manager since summer

By Andrei Skvarsky. Wermuth Asset Management, a German fund manager chiefly operating from Moscow, has parted company with its chief executive Maarten van den Belt, three months after another top figure in the relatively small company quit the firm. Van den Belt, whom Wermuth hired as its CEO in July 2010, has been replaced by Michael… Continue Reading

RusRating founder and CEO Richard Hainsworth steps aside

By Andrei Skvarsky.   Russian rating agency RusRating has put aside its founder and chief executive Richard Hainsworth by appointing him as company president and passing over his top managerial duties to Dmitri Yefimov from Russian business news agency AK&M.   The appointment of Yefimov, who takes up the job today, “was motivated by the… Continue Reading

Sberbank to axe 30,000 jobs

By Andrei Skvarsky. Sberbank, Russia’s biggest lender, plans to sack 30,000 employees or 12.5% of its personnel, thereby following other banks in Russia and worldwide in cutting jobs as the euro debt crisis deepens. Sberbank chief executive German Gref told Prime Minister Vladimir Putin that the reason why the firm would slash its numbers to… Continue Reading

Deutsche Bank snaps up remainder of UFG Capital Management

By Ivan Anderzhanov. Germany’s Deutsche Bank will take over the remaining 60% in the Russia’s UFG Capital Management it doesn’t own in an effort to boost its presence in the country’s nascent asset management sphere. The financial details of the transaction weren’t disclosed.  Deutsche UFG Capital Management has 370 million euro of assets under management. Detusche bought the… Continue Reading

Troika hires Standard Bank’s Leith as heir apparent

By Andrei Skvarsky.   Troika Dialog has hired Rob Leith from South Africa’s Standard Bank, which  used to own a big slice of the Russian brokerage, as global head of investment banking and head of global markets.   Leith is taking up what is a newly created role with responsibility for both business areas. He will partially… Continue Reading

EBRD, World Bank try to cut emissions from gas flaring in Russia

By Marcus Williams. The European Bank for Reconstruction and Development (EBRD) is joining forces with the World Bank  to help governments in Azerbaijan, Kazakhstan, Russia and Turkmenistan reduce the waste of a valuable energy source and also combat damage to the environment. In a joint statement, the two international financial institutions said there are currently… Continue Reading

Micex halts trading again for mysterious reason

By Andrei Skvarsky. Trading on the Micex screeched to a halt today for a third time in about three months for mysterious reasons as the exchange merges  with Moscow rival, RTS. Micex, which resumed trade at 11am, said in a statement the reason for today’s suspension were “incorrect records of participants’ remaining funds in the… Continue Reading

INTERVIEW: Raiffeisen staying the course in Russia

By Andrei Skvarsky. Raiffeisen has no plans to follow its European counterparts by retreating from or retrenching in Russia, the Austrian lender’s top spokesman, Michael Palzer, tells EmergingMarkets.me. AS: Russia’s Sberbank is said to be eyeing the Russian assets of crisis-hit European banks, hoping to buy them cheaply. Has it offered to buy your Russian subsidiary?… Continue Reading

WEAFER COMMENT: Big Boost for EM and for Russia

By Chris Weafer, Chief Strategist at Troika Dialog.  The weekly equity funds flow report from EPFR Global showed a big jump in new investment into emerging market funds for the week ended Wednesday. A total of $3.5 bln was invested into all EM funds compared to $1.0 bln the week before. Russia dedicated funds reported… Continue Reading

BG Capital shutters its Ukraine office 

By Ivan Anderzhnov BG Capital, the investment banking arm of Bank of Georgia, is closing down its Ukrainian office to focus on  its domestic market where it has much more positive prospects for growth, according to Kyivpost. “As of today, the Kiev office is officially closed,” said Nick Piazza, CEO of BG Capital, in a letter to clients on… Continue Reading