Hires & Fires: Equity departures heap pressure on UniCredit in Moscow

By Jason Corcoran in Moscow

UniCredit Securities in Moscow, which has lost staff to resurrected investment bank Aton in recent months, has suffered another blow following the departures of its head of equities Steven Dashevsky and equity analyst Anna Kochkina.

A source close to UniCredit said Dashevsky was not joining a group of colleagues who had left to join Aton’s relaunched investment banking business.

Dashevsky, a Russian born US citizen, joined Aton in 1998 as an oil and gas analyst. He was promoted to head of research in 2002 before taking over as head of equities shortly after UniCredit bought Aton’s institutional business in July 2007 for $424m.

The Aton brand was subsequently dropped in February this year and the Russian business was renamed UniCredit Securities.

However, Evgeny Yuriev, the president and founder of Aton Capital, is re-entering the investment banking market having retaining the Aton Line discount brokerage and Aton asset management businesses.

Aton is building a full service investment bank and is looking to hire up to 50 bankers, according to recruiters. Recent recruits include senior analyst Ivan Nikolaev and Svetlana Kovalskaya, who had both been employed at Renaissance Capital until earlier this year.

Peter Westin, a one-time head of research at Aton, has recently rejoined the firm to lead its research efforts after a stint at JP Morgan and MDM Bank.

It was previously reported in June that Alexander Kandel, UniCredit’s chief executive and head of investment banking, would be leaving for “personal reasons.”

It is not known whether Kandel, who is remaining in his position until a replacement can be found, will eventually join Aton.

UniCredit said they had appointed Roman Rodin as head of trading following the departure of Denis Sarantsev to lead Aton’s trading team.

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