RenCap hires Merrill banker for senior Europe sales job

By Andrei Skvarsky. Russian brokerage Renaissance Capital has hired Amr Aboushaban from Bank of America Merrill Lynch as vice-president in its equities sales team. {{{?}}} Aboushaban’s main responsibility will be client coverage in London and across Europe, but his duties will include helping to build out coverage in the Middle East and North Africa, RenCap… Continue Reading

Abraaj chief concurs with thesis that BRIC obsolete term

By Andrei Skvarsky. Facts that the chief executive of Dubai-based investment firm Abraaj cites in a recent article corroborate the thesis of British bank Coutts that BRIC is an obsolete concept. {{{?}}} Both Abraaj CEO Arif Naqfi and Coutts analysts argue that the economic performance of Brazil, Russia, India and China has ceased to make… Continue Reading

Sberbank hires Swiss bankers as commodities unit traders

By Andrei Skvarsky. Sberbank CIB, the investment unit of Russia’s biggest lender Sberbank, has hired two Swiss bankers as senior traders for the commodities unit of its global markets department. {{{?}}} Sergio Soler, who comes from Swiss bank Julius Bär, has been appointed as senior precious metals trader, and Franck-Eric Fischer joins from Geneva-based consultancy… Continue Reading

EXCLUSIVE: MNI Indicators chief economist Philip Uglow comments on Russia’s economy in interview with EmergingMarkets.me

How would you explain Russia’s current slowdown? Can it be that the global crisis has finally got to Russia – it seems that what happens in Western economies takes a while to reach Russia? {{{?}}} The global economic crisis has clearly had a negative impact on Russia – there’s no getting away from that. Russia… Continue Reading

MNI Indicators: Russian companies’ confidence jumps up

By Andrei Skvarsky. Deutsche Boerse’s data-providing subsidiary MNI Indicators says business confidence among some of Russia’s largest companies bounced back sharply in January from a “record low” in December but warns that the upturn may be temporary. {{{?}}} The MNI Russia Business Indicator rocketed to 57.9 in January from 45.5 in December, to register its… Continue Reading

UBS hires ex-Morgan Stanley bankers as Russia chiefs

By Andrei Skvarsky. UBS has hired two senior former Morgan Stanley bankers to run its Russian operation. {{{?}}} Rair Simonyan is joining the Swiss bank as chairman and Elena Titova as chief executive of its Russian subsidiary, UBS said in a statement. Both are coming over from Russian Regional Development Bank, which is owned by… Continue Reading

Eurex chief to join Swiss bank Lombard Odier as managing partner

By Andrei Skvarsky. Eurex, a derivatives exchange owned by Deutsche Boerse, is going to part company with its chairman Hugo Banziger, who has been appointed as a managing partner of Lombard Odier, one of Europe’s largest private banking firms. {{{?}}} The Swiss economist’s appointment as the ninth managing partner of the oldest private bank in… Continue Reading

VTB chief: West’s Russian policies run against globalisation trends

By Andrei Skvarsky. The president of state-controlled VTB Group, Russia’s second-largest bank, has accused the West of a “patronising”, arrogant and standoffish attitude to Russia, which he argues is not the way to behave in these times of globalisation. {{{?}}} “It sometimes seems that politicians of countries that ought to have much in common are… Continue Reading

Tajikistan central bank debuts in Moscow Exchange forex market

By Andrei Skvarsky. Tajikistan’s central bank has begun to trade in Moscow Exchange’s forex market, clinching its first deal on January 20. {{{?}}} The National Bank is not Tajikistan’s first bank to gain access to Moscow Exchange’s forex trade. Early last month the Eskhata commercial lender was let into the market. The National Bank of… Continue Reading

Russia may switch clocks back for winter

By Andrei Skvarsky. A draft law has been introduced to Russia’s parliament to restore the practice of moving the clocks one hour forward in the spring and one hour back in the autumn, Russian media said on Monday. {{{?}}} The proposed law is bound to be hailed by stock exchange traders in the West who… Continue Reading

Royal Bank of Scotland subsidiary says BRIC obsolete term

By Andrei Skvarsky. Coutts, a lender owned by Royal Bank of Scotland, argues that the 13-year-old BRIC term is obsolete. {{{?}}} The economies of Brazil, Russia, India and China are much too different in size and performance to justify seeing the four nations as a distinctive group. Moreover, there is a bunch of other emerging… Continue Reading

Free Personal Coaching for EmergingMarkets.me members!

{{{?}}} Dear Readers, We’ve started a partnership with an exciting London start-up. Go.Show.Do know that being great at your job, doesn’t mean it’s always easy to sell yourself to employers. It’s a skill and no one is teaching it!  They want their clients to be in control and confident, so they get the great jobs… Continue Reading

Russia’s Renaissance hires ex-BofA banker to run Africa sales

By Andrei Skvarsky. Renaissance Capital, one of Russia’s leading privately owned investment banks, has confirmed it has hired Robert Lamprecht, a former senior manager at Bank of America, as head of African sales. {{{?}}} Lamprecht will be based in Johannesburg, where one of RenCap’s three African offices are located. He will report to Florian Hellmich,… Continue Reading

VTB makes clean break with Fitch over "lack of professionalism”

By Andrei Skvarsky. VTB Group, Russia’s second-largest bank, announced on Tuesday that it was severing all its relations with Fitch Ratings because of the rating agency’s “continued lack of professionalism”. {{{?}}} The move followed Fitch’s lowering VTB’s issuer-default rating one level on January 10, which the bank argued was groundless, claiming the agency had had… Continue Reading

An intelligent , English CV Template

{{{?}}} For professionals working in a new culture, it’s crucial that employers can easily grasp the value of your past experience to them and their company. Unfortunately, there is a lot of terrible advice on the internet and some terrible  ‘standard’ formats.  The Europass CV template is the most common and probably the worst and… Continue Reading

In 2014 – the big career challenge is to sell our skills

{{{?}}} In 2013, the number of companies involved in corporate recruitment expanded again, for better or for worse.  In 2014 there will be type of chaos in the market, which will effect how real people achieve career-defining steps and changes. Executive recruiters; in-house recruiters; HR directors; outsourcers; procurement teams; Linked-in junkies, employer brand managers; company… Continue Reading

Russia tries to revive interest in struggling stock market

By Melissa Part. 2013 seemed to end on a grim note for Russia’s economy with consumer confidence hitting a new low. {{{?}}} The country’s economy has had a bumpy start to 2014 too. The recent release of high-profile political prisoners does not seem to have rallied investor interest in Russia’s stock market. Russia recently released… Continue Reading

Moscow Exchange reports 24% trade volume increase for 2013

By Andrei Skvarsky. Moscow Exchange has said its trading volumes grew 24% last year, reaching 46.6 trillion rubles ($1.4 trillion). {{{?}}} All of the exchange’s units – its trading floors for stocks, Russian depositary receipts (RDRs), corporate and government bonds and derivatives, and its forex and money markets – recorded volume increases, the bourse, which… Continue Reading

Sberbank CIB’s 2013 trade finance, documentary deals worth $43.5bn

By Andrei Skvarsky. Sberbank CIB, the investment arm of Russia’s biggest lender Sberbank, has announced it carried through “record” numbers of trade finance and documentary operations in 2013, putting the total volume of the deals at $43.5bn. {{{?}}} The investment firm said in a statement its documentary operations topped the $33bn mark last year, with… Continue Reading

Sberbank: consumer confidence in Russia plummets

By Andrei Skvarsky. A survey by Sberbank, Russia’s biggest lender, suggests that consumer confidence in Russia has plummeted towards the year-end after being stable from March to September. {{{?}}} The proportion of price-sensitive customers has grown, savings have dwindled, unemployment has edged up, and companies are making fewer hires, according to December’s issue of Sberbank… Continue Reading

Deutsche Boerse poll: Russian companies' confidence at “record low”

By Andrei Skvarsky. A Deutsche Boerse survey suggests that business confidence among major Russian companies hit “a record low” this month as did production and orders, marking “a miserable end to what has been a terrible year for the Russian economy”. {{{?}}} Global business data provider MNI Indicators, a Deutsche Boerse subsidiary, said its MNI… Continue Reading

FxPro: US dollar, euro, sterling to get stronger, yen to weaken

By Andrei Skvarsky. FxPro, a global forex broker, predicts that the world forex market will be characterised by greater volatility and shorter trends in 2014, with the US dollar, euro and sterling getting somewhat stronger and the yen further weakening. {{{?}}} The dollar will show “conditional” strength, “which means that we are not heading for… Continue Reading

Morgan Stanley: weak investment main cause of Russian slowdown

By Andrei Skvarsky. Morgan Stanley believes poor investment is the main cause of Russia’s decelerating economic growth. {{{?}}} Weak investment has been more powerful as a growth decelerator than robust global oil prices have been as an accelerator, the bulge bracket bank’s chief economist for Russia, Jacob Nell, argued at a briefing in Moscow last… Continue Reading

US Revere Capital Advisors sets up merchant banking group, makes hires

By Andrei Skvarsky. Revere Capital Advisors, a New York- and London-based financial services boutique, has set up a merchant banking group, Revere Merchant Capital (RMC), and made three senior hires for the new firm. {{{?}}} “RMC will lead and co-invest in equity and debt financings in connection with change of control, acquisition and expansion capital… Continue Reading

Moscow forum discusses high-tech investment

By Andrei Skvarsky. RVC, a Russian state-owned high-tech investment company, has helped organise an international forum last week that looked at ways of giving an impetus to Russia’s technology industries. {{{?}}} The role of corporate venture funds, high-tech investment vehicles set up by large corporations, was among issues raised at Moscow’s First Corporate Venture Summit,… Continue Reading

Sberbank hires ex-RBS banker as head of FX

By Andrei Skvarsky. Sberbank has hired Frederic Blondel, a former Royal Bank of Scotland (RBS) and ABN AMRO banker, as head of foreign exchange and flow derivatives corporate sales at Sberbank CIB, the investment arm of Russia’s biggest lender. {{{?}}} Blondel, who will be based in Moscow and has more than 20 years’ experience in… Continue Reading

VTB Capital raises $95.2m by selling stake in IT firm on NYSE

By Andrei Skvarsky. Russia’s VTB Capital has raised $95.2m by selling its stake in Russian software development and IT outsourcing company Luxoft in a secondary public offering (SPO) on the New York Stock Exchange in which the Moscow-based bank was one of the bookrunners. {{{?}}} The offering was more than three times oversubscribed and attracted… Continue Reading

Deutsche Bank selling Russian subsidiary to Aton

By Andrei Skvarsky. Deutsche Bank has agreed to sell its Russian subsidiary Deutsche UFG Capital Management (DUCM) to Russian investment group Aton in what would purportedly make the latter one of Russia’s biggest asset managers. {{{?}}} The deal, which needs approval from Russia’s Federal Antimonopoly Service, would make Aton the 100% owner of DUCM, an… Continue Reading

EXCLUSIVE: Tinkoff shares plummet 40%

By Andrei Skvarsky. Tinkoff Credit Systems stock plummeted 40% to $9 per share on Friday on news that Russia’s government is planning a law to restrict distant distribution of credit cards by banks. {{{?}}} It would then only be possible to obtain a card from a bank office. “This is only one of many initiatives… Continue Reading