Banker Pavel Teplukhin set to join Aeroflot board

March 1, 2010

By Ivan Anderzhanov
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Pavel Teplukhin, the founder of Troika Dialog Asset Management, has been nominated as an independent director for the board of Russia’s state airline Aeroflot.

Teplukhin, who recently quit after 20 years at Russia, may be appointed on a June 19 meeting, according to RBC Daily.
His departure from Troika comes a year after the bank [...]

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Russian funds attract net $214.5m for the week

February 26, 2010

By Mark Robinson Head of Equity Research at UniCredit Securities
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Russian funds and ETFs saw cumulative net inflows of $214.5mn in the week to 24 February, EPFR data shows.

In contrast to the previous week, when ETFs drove the net positive, this time traditional funds brought in the majority of new cash ($198m vs. $16.5m).
Global emerging markets [...]

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Yanukovich vows to build bridge to the west and east of Ukraine

February 25, 2010

By Ivan Anderzhanov
Ukraine’s new President Viktor Yanukovich vowed today to make his country “a bridge between East and West” after being sworn into office in Kyiv.
Yanukovych, who narrowly defeated Ukraine’s prime minister Yulia Tymoshenko to secure the post, said Ukraine is simultaneously part of Europe and of the former Soviet Union and should serve as [...]

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Profits for Ashmore Leap by 40% in H2 2009

February 25, 2010

By Marcus Williams
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Emerging markets investment house Ashmore Group said half-year net profit jumped 40% to $172 million after markets bounced back.

The London-listed company had previously reported that assets under management increased $500 million to $31.6 billion in the three months to Dec. 31, due to $300 million of new cash and $200 million of positive [...]

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Raiffeisen International considers merger with parent

February 23, 2010

By Marcus Williams
Raiffeisen International is considering a merger with its Austrian parent group in a bid to reduce its funding and reduce exposure to the uncertain Central and Eastern European region.
The bank’s shares dropped as much as 10% following news on Tuesday of a possible tie-up.
Raiffeisen,  the largest lender in Central and Eastern Europe, reported [...]

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Rencap hires ex-Merrill Lynch banker for expansion in South Africa

February 22, 2010

By Marcus Williams
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Russia’s Renaissance Capital has hired former Merrill Lynch banker Clifford Sacks to lead its South African operation as part of its bold expansion into emerging markets.

According to a report in today’s Financial Times, the Johannesburg business will focus on metals and mining, oil and gas, financial and telecoms.
Renaissance said the bank intends to [...]

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ETFs provide net inflows into Russian and GEM funds in the week to 17 February

February 19, 2010

By Mark Robinson, Head of Equity Research at Unicredit Securities
Russian and GEM funds saw slight net inflows in the week to 17 February 2010 thanks to money coming into ETFs, EPFR data shows. After three weeks of net outflows, Russia-dedicated funds saw an inflow of $13m: the positive $22m cash result of ETFs offset the [...]

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Societe Generale merges Rosbank with BSGV in Russia

February 18, 2010

By Marcus Williams
Societe Generale, France’s second largest bank, and its partner Interros today announced they are combining their banking operations in Russia.
Rosbank and BSGV, will be merged into a single unit but still retain two separate brands.
The new entity will have the specialised mortgage and consumer lending companies Rusfinance and Delta Credit as its subsidiaries.
Societe [...]

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Renaissance revamps fund management with new hires

February 18, 2010

By Ivan Anderzhanov
Russia’s Renaissance Group has hired a former Blackrock star fund manager Plamen Monovski for its new investment arm in a bid to replicate the success of its investment bank.
The company said yesterday it had hired Monovski, formerly head of emerging markets at US fund giant Blackrock, as chief investment officer of the newly [...]

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Barclays boss Diamond gears up for Russia

February 17, 2010

By Ivan Anderzhanov
Bob Diamond, the chief executive of Britain’s Barclays Bank, is gearing up for expansion in Russia despite incurring a loss of 67 million pounds in the country last year.
The bank, which has announced a doubling of net profit in its 2009 to $14.71 billion, yesterday said Barclays is looking to increase its investment [...]

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Lithuania Debt – Capital at a Cost

February 16, 2010

By James Beadle from Market-Melange
On 4 February, the global financial community was enthralled with Europe’s Greek Economic play. On a quieter side stage, Lithuania gave a little performance of its own. As debt markets burned, it issued $2 bln of ten year bonds. Optimists can claim a great victory. In that week a raft of [...]

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COMMENT: Ashmore positive on Brazil after strong performance in 2009

February 16, 2010

Brazil is expected to be a major investment destination for global investors over the next decade according to Ashmore Investment Management, the leading specialist emerging markets asset manager. A largely closed economy with strong domestic demand, Brazil has weathered the credit crunch, is a net creditor country lending money to the IMF and should see [...]

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