Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
By Marcus Williams
Vladimir Tatarchuk, co-head of investment and corporate banking at Alfa Bank, has quit Russia’s largest private banking institution and may join VTB, according to a Vedomosti report today.
A number of senior Moscow-based bankers are rumoured to be joining the new wave or recruits at state–controlled VTB Capital, which has grown quickly after initially [...]
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By Ivan Anderzhanov
Ruben Aganbegyan, the former president of Renaissance Capital, is leaving the investment bank to takeover as president at Micex, the largest Russian stock exchange.
Aganbegyan, who was demoted in February this year following a shake-up by Rencap founder Stephen Jennings, will take up his new role on June 21. He replaces Konstantin Korishchenko, who [...]
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By Marcus Williams
Elbrus Capital has been launched a new Russian private equity firm, following last year’s purchase of Renaissance Private Equity from Renaissance Group.
Renaissance raised $660m for one of Russia’s biggest buyout funds over two years ago. The business was spun off by the bank in December 2009 and the fund was sliced in half [...]
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By Andrei Skvarsky
Louise Gibney has resurfaced at Dutch bank ING a year after parting company with Troika Dialog as its London-based director of equity sales.
It is understood that Gibney will be based in London but may switch to takeover a senior sales role at ING’s offices in Moscow soon.
ING may be trying to rebuild its [...]
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By Vladimir Osakovsky, Head of Macroeconomic Research at UniCredit Securities
The Russian government agreed on forecasts for oil prices and other economic parameters for 2011 that will be used for budget formation, Kommersant reported. The oil priceforecast for 2010-2011 was set at $75/bbl oil, real GDP outlook was cut to 3.4% (from 3.5%), industrial [...]
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By Ivan Anderzhanov
Russian’s Renaissance Capital has named June 28 and June 29 as the dates for its 14th investment conference in Moscow.
The emerging markets bank did not hold an event in the capital last year after selling 50% of the business to the oligarch Mikhail Prokhorov amidst Russia’s biggest every economic contraction on record.
This year’s [...]
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By Andrei Skvarsky
Investors are looking forward to a plan by the Russian government to lift its ban on exchange traded funds next year, according to Russian business daily Vedomosti.
The head of the Federal Financial Markets Service, Vladimir Milovidov, has confirmed to the newspaper that the regulator has [...]
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By Eric Kraus, a Strategist at Otkritie Financial Co.
It will come as no revelation that T&B (Truth & Beauty) was wrong-footed by the current wave of market havoc; in a magnificent confirmation of Murphy‟s law, pandemonium broke out in the financial markets within literally hours of the release of our last, somewhat more bullish report. [...]
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By Ivan Anderzhanov
US private equity fund Siguler Gruff is investing $250m in a high-tech hub dubbed Russia’s ‘answer to Silicon Valley’.
Siguler Guff, which has over $8.5bn in assets under management, made the investment public after meeting with Russian leader Dmitry Medvedev.
Medvedev has been on a charm offensive with foreign fund managers and venture capitalists in [...]
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By Ivan Anderzhanov
Hawk Sunshine, the head of investment banking at Metropol, is believed to be moving to a senior fund management role within the financial services group.
The switch has been triggered by the arrival of Dan Rapoport, a former banker at CenterInvext, according to a source close to Metropol. It is believed Sunshine is working [...]
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By Ivan Anderzahnov
UK bank Barclays may offload its Russian regional retail banking network to a unit of Renaissance Group.
Barclays is in talks about selling 12 regional branches to Renaissance Credit, the consumer finance arm of the investment banking group Renaissance, according to Russian daily Kommersant.
The British giant acquired Russian lender Expobank in March 2008 for [...]
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By Jamie Allsopp, Fund Manager, Insparo Asset Management
In 2009, Russia suffered a decline in the wealth of their richest citizens. According to a Merrill Lynch report, the number of Russians who qualified as high net worth individuals fell by 28.5% – more than a quarter of its original wealthy population.
While the fall in the high [...]
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