Moscow Exchange to change collateral requirement for derivatives market

By Andrei Skvarsky. Moscow Exchange plans a reform in its derivatives market in which the entire collateral would have to be in U.S. dollars instead of today’s requirement of 50% in dollars and 50% in Russian rubles. {{{?}}} “The change will simplify operations for foreign market participants and lower funding costs for Russian market participants,”… Continue Reading

RenCap hires banker from Merrill for Turkey sales

Russia’s Renaissance Capital has hired Ozlem Turgay from Merrill Lynch as an equity salesperson for its Istanbul office. {{{?}}} Turgay will report to Benjamin Samuels, global head of equities at RenCap, and to Burak Akbulut, head of execution for Turkey, the Moscow-based investment bank said in a statement. Turgay has held Istanbul- and New York-based… Continue Reading

Moscow Exchange chosen as IPO floor by major footwear retailer

By Andrei Skvarsky. Moscow Exchange is soon going to host one more IPO, with major Russian footwear retailer Obuv Rossii planning to put one quarter of its stock on sale and expecting to raise between 1.5bn and 2bn rubles ($46m-$62m) thereby. {{{?}}} The planned sale would be run by a consortium led by Russian broker… Continue Reading

VACANCY – Senior Russia/CIS Private Banker – Singapore

My client is a top tier Asian bank and they are looking to add senior relationship managers to their Russia/CIS desk in Singapore. The candidate must have AUM of 250m+ USD. Target clients will be UHNWI from Russia, Ukraine and most importantly Kazakhstan. Location: Singapore Recruiting Company: Oxbow Executive Search Ltd Contact Person: Leon Zwiefka-Sibley… Continue Reading

NASDAQ, Moscow Exchange sign deal to help Russian start-ups

By Andrei Skvarsky. NASDAQ and Moscow Exchange have clinched a deal to join forces in helping Russian high-tech start-ups to get listed on the two bourses. {{{?}}} The two exchanges are to co-organise conferences, workshops and presentations for innovative companies and international investors under the agreement, the Moscow bourse said in a statement. The deal… Continue Reading

Russia’s Nomos bank carries out successful SPO on Moscow Exchange

By Andrei Skvarsky. The Nomos banking group, one of Russia’s largest private lenders, carried through a successful secondary public offering of shares on Moscow Exchange last week, raising 19.08bn rubles ($600m) by selling all the securities it offered. {{{?}}} Gazprombank and Otkritie Capital co-organised the SPO. Demand exceeded supply, with Nomos giving priority to major… Continue Reading

EXCLUSIVE: Russia’s BCS hires ex-ING analyst to oversee consumer sector research

By Andrei Skvarsky. Russian brokerage BCS has hired Anna Kochkina, a former senior equity researcher at ING Bank, as senior equity analyst for the consumer sector, Luis Saenz, head of equity and derivatives sales trading at BCS, told EmergingMarkets.me. {{{?}}} Kochkina, who received high accolades in the Extel survey for consumer sectors in Europe, the… Continue Reading

London’s Oracle Capital takes control of Moscow’s Third Rome

By Andrei Skvarsky. Oracle Capital Group, a global multi-family office and wealth consultancy, has bought a blocking stake in Third Rome, a Moscow-based wealth manager. {{{?}}} “Third Rome will continue to operate under the Third Rome Group name and brand as a self-managed group of companies.  In cooperation with Oracle Capital Group, Third Rome will… Continue Reading

Moscow Exchange chosen by NASDAQ-listed Qiwi as SPO co-host

By Andrei Skvarsky. Moscow Exchange has a new feather in its cap now that Qiwi, a top-notch provider of electronic payment services in Russia and the CIS, opted for the bourse as one of the floors, along with NASDAQ, for trading its American depositary shares (ADSs) after a successful IPO in the United States. {{{?}}} Co-managed… Continue Reading

RenCap appoints global co-heads of investment banking

By Andrei Skvarsky. Russia’s Renaissance Capital has announced two senior promotions, appointing two bankers as global co-heads of investment banking. One of the appointees is Alexander Merzlenko, who has been president of Renaissance Capital Russia since December 2012 and will combine this position with his new job. The other is Ron Golan, who joined RenCap… Continue Reading

RenCap chief resigns, ex-Merrill banker comes in to run global equities

By Andrei Skvarsky. Russia’s Renaissance Capital has parted company with its chairman and co-chief executive John Hyman, who has overseen the Moscow-based investment bank’s transition from being a money-losing to a profitable business. {{{?}}} Simultaneously, RenCap, which is part of billionaire Mikhail Prokhorov’s Onexim Group, hired ex-Merrill Lynch banker Benjamin Samuels as head of global… Continue Reading

Goldman Sachs, J.P. Morgan, Morgan Stanley to co-manage Alrosa IPO

Goldman Sachs, J.P. Morgan, Morgan Stanley, and Russia’s VTB Capital and Renaissance Capital will co-manage a planned IPO announced by Russia’s Alrosa, the world’s main diamond producer, on Wednesday. Alrosa will offer a 16% stake for sale on Moscow Exchange, the state-controlled company, which produces 94% of Russia’s diamonds, said in a statement. Continue Reading

Sberbank gives ex-Renaissance Group banker senior job at HNWI unit

Sberbank has hired Rudolf Scherrer from Russia’s Renaissance Group as deputy head of private banking. Scherrer who took up his job in the high-net-worth individuals division of Russia’s largest lender on September 27, Sberbank said in a statement. Previously he spent 12 years in a series of Switzerland- and Russia-based positions at Credit Suisse before… Continue Reading

Sberbank increases majority stake in venture with BNP Paribas

By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has enlarged to 74% from 70% its stake in Cetelem Bank, its Russian retail joint venture with BNP Paribas. The increase marks the closure of a deal between Sberbank and BNP Paribas Personal Finance, the French bank’s retail unit, announced in July. Sberbank is currently transferring its car… Continue Reading

EXCLUSIVE: Accuity launches bespoke PEP screening software for Russian market

By Andrei Skvarsky. Business data provider Accuity, part of Anglo-Dutch publisher Reed Elsevier, is launching a unique risk assessment tool tailored for the Russian banking sector – a database to enable banks to screen potential customers from among politically exposed persons (PEPs) more efficiently than its predecessors. {{{?}}} The database, whose main purpose is to… Continue Reading

Sberbank’s investment arm hires bankers from UBS, Merrill

Sberbank CIB, the investment arm of Russia’s biggest lender Sberbank, has made two appointments in its global markets department, hiring Nicholas (Nick) Harwood from UBS as head of equity and Sascha Prinz from Bank of America Merrill Lynch as head of rates in the fixed income, currencies and commodities unit. Harwood held London- and Johannesburg-based… Continue Reading

Lombard Odier banker: Russia’s slowdown has nothing to do with “middle income trap”

By Andrei Skvarsky. Swiss bank Lombard Odier’s investment chief has brushed aside a common theory that blames Russia’s current economic slowdown on a “middle income trap”, a situation where a rapidly developing economy practically stalls when incomes reach a certain level. {{{?}}} The source of the problem are balance of payments (BOP) dynamics, Paul Marson… Continue Reading

Japan govt lending Sberbank $600m to pay for imports

By Andrei Skvarsky. Japan Bank for International Cooperation (JBIC), is to provide Sberbank, Russia’s top lender, with a series of long-term loans to a total of $600m to finance Russian imports of goods and services from Japan under an agreement signed last week. “We have been working with JBIC for a few years already and… Continue Reading

Sberbank becomes agent of $750m syndicated loan for Ukraine govt

Russia’s Sberbank became the underwriter of a recent $750m syndicated loan for Ukraine’s government.  “This is the first time that Sberbank has provided a loan to Ukraine and therefore is an important step towards future cooperation,” the biggest Russian lender’s investment arm Sberbank CIB said in a statement. Sberbank CIB was the loan’s technical organiser. Continue Reading

EBRD appoints new Head of Yerevan office

The European Bank for Reconstruction and Development (EBRD) has appointed Mark Davis as the new head of the Yerevan Resident Office. Davis is replacing Valeriu Razlog, who has been appointed as Senior Banker in the Natural Resources team at the EBRD’s headquarters in London. Prior to taking up the position at the EBRD, Davis was… Continue Reading

Citi, Credit Suisse, Merrill Lynch, Morgan Stanley to offer DMA to Moscow Exchange

By Andrei Skvarsky. Citigroup, Credit Suisse, Merrill Lynch and Morgan Stanley are going to begin to offer their clients direct market access (DMA) to trade in Russian securities on Moscow Exchange this month. Two other major global banks are expected to follow suit later this year, Russia’s largest trading platform for equities, bonds, derivatives and currencies said… Continue Reading

Sberbank’s Turkish arm plugged into MoneyGram network

By Andrei Skvarsky. Sberbank’s Turkish operation Denizbank is expected to become the biggest Turkish agent for global money transfer company MoneyGram under a recent agreement. {{{?}}} The deal plugged one of Turkey’s top lenders into the network of a remittance firm that runs successful business in 198 countries but last year admitted to fraud charges… Continue Reading

Moscow Exchange makes six senior hires

By Andrei Skvarsky. Moscow Exchange has announced six hires for top roles in its risk management, primary markets, investor relations and IT services. Luis Vicente was appointed as head of risk and clearing at the National Clearing Centre, which is part of Moscow Exchange, the bourse said in a statement. His 16 years of risk management experience include… Continue Reading

EBRD invests in Russian IT outsourcing provider MAYKOR

The EBRD has joined forces with the Russian Direct Investment Fund (RDIF) and the CapMan Russia II Fund, a private equity fund in which the Bank is an investor, to support MAYKOR, the leading Russian IT outsourcing and service provider.  The three partners will invest up to USD 100 million in a series of stages… Continue Reading

EBRD invests in leading Turkish textile company

The European Bank for Reconstruction and Development continues to boost Turkey’s Anatolian regions, making a €3.7 million loan to Kivanc Tekstil, a leading producer of clothing fabrics and yarn based in Adana. Kivanc Tekstil, 100 per cent owned and controlled by the founding family of the same name, has successfully operated in the textile sector for… Continue Reading

New Appointments for Otkritie Bank’s Management

Otkritie Bank has appointed Chairman of the Managing Board, following the approval by the Bank’s Board of Directors and the Bank of Russia. In his new capacity, Evgeny Dankevich will be in charge of the Bank’s strategic development and general management. Evgeny will resign as Otkritie Bank’s President and Board of Directors Chairman, while remaining on Otkritie… Continue Reading

Hong Kong becomes strengthened hub for East Capital Asia team

East Capital is to concentrate its Asian operations in Hong Kong, bringing together a strong team led by Karine Hirn, Partner and Co-Founder of East Capital. East Capital first established its presence in the region in Hong Kong in 2006, and in 2010 opened a second office in Shanghai. East Capital’s Asia team investing in… Continue Reading

Chinese Investors Target London Real Estate

Asian markets with similar cultural backgrounds such as Thailand, Hong Kong, Singapore and Malaysia are among countries being targeted by Chinese insurance funds that have more than US$14 billion available for overseas real estate investment, according to the latest research report from global property adviser CBRE. {{{?}}} The prime targets are high transparency markets including… Continue Reading