Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
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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Jerome Booth, Head of Research at Ashmore Investment Management comments on the global backdrop for emerging markets over the past year and forecasts an encouraging future for EM asset classes.
Reviewing some of the key themes in 2009:
· Whilst there was global disruption to cross-border finance, the main negative impact on selected emerging countries has been [...]
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By Marcus Williams
Research strategists at Goldman Sachs are going long on Russian equities in 2010 on the basis that the country’s growth rate will rebound sharply.
Goldman is forecasting that real GDP will rebound to +4.5% in 2010 and accelerate later in the year after a steep 9.5% decline this year.
Compared with other developed and emerging [...]
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By Marcus Williams
State-controlled VTB Bank has exercised a call option to acquire 31.5 % of property developer Sistema-Hals from the diversified conglomerate group Sistema for a symbolic price of just 30 roubles.
Sistema-Hals and its parent have been heavily indebted to VTB, and agreed earlier this year to give VTB a 19.5% stake and a call [...]
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By Ivan Anderzhanov in Moscow
Claus Korner, former head of Deutsche Bank Private Wealth Management in Moscow, has resurfaced at Third Rome.
Korner, who built Deutsche’s wealth business from scratch in Moscow to $1.5bn in assets under management, has joined Andrei Movchan’s fast-growing team at Third Rome as a partner.
A veteran of Russia and Eastern [...]
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By Marcus Williams
A roster of investment banking heavyweights are biting at the leash following the news today that aluminum producer Rusal has concluded a debt restructuring deal on $7.4bn owed to Western creditors.
The agreement should pave the way for an initial public offering of as much as $2.5bn, or 10% of the company. Investment banking [...]
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By Jason Corcoran in Moscow
Russia’s Renaissance Capital has parted company with its head of domestic equity sales Maria Shatalina and replaced her with Ruslan Babaev.
Babaev, who joined the investment bank from Goldman Sachs in May 2007, has been promoted with immediate effect to lead Rencap’s domestic equity sales personnel.
A source close to the group indicated [...]
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