Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
By Ivan Anzerzhanov
Britain’s Royal Bank of Scotland sold its Kazakhstan business to HSBC for $52 million (£35m) in its third emerging market disposal.
RBS Kazakhstan includes four branches, two support offices, 490 staff and personal customer loan and credit card portfolios. HSBC has been operating in Kazakhstan since 1998 and has 250 [...]
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By Andrei Skvarsky
Russian stock exchange RTS registered a net profit of 1.44 billion ($46 million) last year, a 20% increase on 2008.
RTS Group’s priority investment areas in 2009 were infrastructure development, including building up its infrastructures in Ukraine and Kazakhstan, and new projects such as launching the cash equities market, RTS [...]
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By Andrei Skvarsky
Stockholm-based investment company East Capital Explorer has decided to close its real estate fund for Russia as the unit has received no investments since it opened in July 2008.
When the global financial crisis broke out, the company, whose area of operations is Eastern Europe, decided to keep its [...]
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By Chris Weafer, chief strategist at UralSib Capital
Deputy PM Shuvalov’s comment that Russia doesn’t want investors seeking “quick and easy money” has been making headlines and raising eyebrows since his interview with Bloomberg yesterday. It is unusual, to say the least, to have a senior minister, who’s role it is [...]
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By Andrei Skvarsky
TransCreditBank, a bank controlled by state rail transport monopoly Russian Railways, is setting up a full-service retailing division and has hired four ex-top managers of the Russian Standard bank to run the unit.
TransCredit Bank focusses on services for corporate clients, while for most of its current two million [...]
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By Andrei Skvarsky
Vladimir Tatarchuk will most likely be approved as one of the half-dozen deputy chief executives of VTB on June 19 after leaving Alfa Bank, where he was deputy chief executive and co-head of investment and corporate banking, Interfax said.
Interfax did not say what Tatarchuk would specialise in at state-controlled [...]
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By Andrei Skvarsky
Uralsib has parted company with a top analyst at its investment arm, Michael Kavanagh, without anyone to replace him, a senior executive told EmergingMarkets.me.
Konstantin Chernyshev, head of the financial corporation’s analysis department, declined to say whether Kavanagh has a new job.
Chernyshev played down Kavanagh’s departure, saying the research team [...]
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By Ivan Anderzhanov
Dutch bank ING has hired Dmitry Polevoy from KIT Finance to replace Tatiana Orlova as economist for Russia and Kazakhstan Commercial Banking.
Polevoy will be responsible for analysis of macroeconomic trends and forecasting. He will cover monetary, FX and fiscal policy issues in Russia and Kazakhstan together with real sector [...]
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By Ivan Anderzhanov
East Capital has completed the acquisition of Asia Growth Investors (AGI), a fund management company focussed on China.
The deal marks diversification for the Swedish investment firm focussed on Russia and Eastern Europe.
AGI, which is Swedish owned like East Capital, was founded in 2004 by fund manager Gustav Rhenman.
East [...]
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By Andrei Skvarsky
Russia’s biggest lender Sberbank has set up two offices in Moscow to serve the wealthy and is in talks about providing these customers access to foreign securities.
The state-controlled bank, which has recently been aggressively expanding into brokering, debt capital markets and asset management, is developing a product line [...]
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By Taras Rybak
Getting a banking job in Russia has become less of a cyclical fad and more of a permanent fixture.
The global economic crash following the collapse of Lehman Brothers in late 2008 has changed the game. Sovereign defaults and the boom and bust episodes in Russia pale in comparison, and seem [...]
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By Ivan Anderzhanov
Dmitri Kryukov, a co-founder of the investment firm Kazimir Partners, has set up a new hedge fund and hired six former colleagues to help run it.
Kryukov quit Kazimir a year ago after a bitter dispute with the other co-founder Frank Mosier. The pair had set up the firm in 2002 having working together [...]
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