Troika Dialog snags JP Morgan banker

By Andrei Skvarsky. Russian brokerage Troika Dialog has hired Anton Malkov from J.P. Morgan for a senior investment banking role. Malkov spent more than two years as a Moscow-based vice president of Deutsche Bank before joining J.P. Morgan’s Moscow operation. Malkov’s duties at Troika include deal structuring and consultancy, the firm said in a statement.… Continue Reading

Otkritie hires consumer analyst from Nomura

By Andrei Skvarsky. Russian broker Otkritie has confirmed it has hired Mikhail Terentiev from Nomura International as senior consumer analyst. Terentiev had a similar role at Nomura, which he joined in 2008 after a two-year spell as an equity research analyst at Troika Dialog. Continue Reading

Barclays gets near to Russian exit lounge

By Ivan Anderzhanov. British bank Barclays is close to selling its Russian retail and commercial banking business to Kazcommertzbank, Kazakhstan’s biggest lender. Barclays could agree to the sale of Expobank as soon as next week, according a report by the UK broadcaster Sky News. The UK high-street lender will continue to do business in the… Continue Reading

Renaissance names Yvonne Ike as CEO of West Africa

By Andrei Skvarsky Renaissance Capital, the emerging markets investment bank, has  named Yvonne Ike as chief executive for West Africa, based in Lagos. Ike replaces Rotimi Oyekanmi, who has been appointed chairman emeritus for Renaissance Group,  West Africa.  In this role, Oyekanmi, who joined Renaissance in 2007, will be responsible for the build-out of Renaissance’s… Continue Reading

Traders wary of Micex's suspension for ''technical reasons''

By Andrei Skvarsky. Russia’s leading Micex stock exchange was suspended yesterday in a move reminiscent of trading halts that occurred frequently following the 2008 financial crash. The bourse attributed the one-hour plus suspension to ”technical reasons.”  It later reopened before closing down 3.7 percent as global equities tumbled. However, many market makers in Moscow and… Continue Reading

Russian champanksa maker to go pop with IPO

By Marcus Williams. Russian sparkling wine producer Abrau-Durso is planning an initial public offering at the end of 2011 or the start of 2012. “The shares are likely to be placed on the Moscow Interbank Currency Exchange (MICEX), but we are not considering foreign trading floors yet,” a spokespersn told Ria Novosti yesterday. The company,… Continue Reading

EBRD attracts SRI lender to Russian market for first time

By Marcus Williams. An EBRD loan for Russia’s Transcapitalbank marks the first time an institution with a specific mandate to act as a socially responsible lender is participating as a co-financier to raise funds for a Russian borrower. To date, the EBRD’s partners in such transactions have traditionally been commercial banks, according to a statement from the… Continue Reading

State Street appoints Raynes for senior EMEA role

State Street Global Advisors, the US fund giant, has recruited Susan Raynes as head of its UK, and EMEA institutional business. Raynes, who was previously head of SSgA’s San Francisco office, replaces Kanesh Lakhani, who worked at the firm for 13 years. Raynes will report to EMEA  head Greg Ehret and will be responsible for identifying institutional business… Continue Reading

EXCLUSIVE: Wermuth fund manager Winsell Davies quits for Metropol role

John Winsell Davies By Ivan Anderzhnov. John Winsell Davies has quit Wermuth Asset Management and has started offering  his ”consulting services” to Metropol. Winsell Davies will work closely with Hawk Sunshine, who switched from a senior investment banking role at Metropol last year to managing director of fund management. Winsell Davies, a Russia veteran with… Continue Reading

GOLDMAN COMMENT: Looking through the fog

By Jim O’Neil, Chairman of Goldman Sachs Asset Management. In the past week, we have experienced remarkable turmoil in financial markets, which have brought back memories for many people of the darkest days of late 2008. Are direct parallels to 2008 valid ? Many other questions also come to mind.  Are current market valuation levels… Continue Reading

Sberbank, VTB and Alfa bring bonuses back to pre-crisis levels

By Andrei Skvarsky. Major Russian lenders Sberbank, VTB and Alfa Bank have resumed the payment of bonuses with remuneration for top managers now returning to pre-crisis levels, according to Vedomosti. The undisputed leader in the generosity stakes is Alfa Bank, which is controlled by oligarch Mikhail Fridman. Nine members of its board collected one billion rubles in salary, bonuses… Continue Reading

Renaissance boosts wealth management arm with two hires

By Andrei Skvarsky. Renaissance Advisors, an investment unit of Renaissance Group, has  boosted its Moscow team by hiring Vagan Amichba and Kirill Schmidt. Amichba has been hired as managing director and a senior financial advisor focusing on the group’s ultra-high-net-worth individuals and cross-selling into all businesses. Before joining Renaissance, he ran his own M&A consulting… Continue Reading

COMMENT: Cruel, cruel summer: Screening Emerging Europe

By Daniel Salter, Chief Strategist at UniCredit Securities. If this is a “normal” mid-cycle market correction, markets could soon start to find a bottom, with the S&P 18% off since its cycle high (in line with the median of fourteen 10%+ downturns for the S&P since 1975). However, if recent events (including the heated debate… Continue Reading

MDM Bank seeks Arab, Asian sovereign wealth investors

By Ivan Anderhanov. MDM Bank, Russia’s second largest private lender,  is holding talks with some Asian and Arabic sovereign investment funds, including Abu Dhabi Investment Authority and Investment Corporation of Dubai. MDM, whose shareholders include businessman Sergey Popov with a 56.3 percent stake and Igor Kim with 11 percent, may offer up to a blocking… Continue Reading

Martin Schwedler named as head of Raiffeisen Invest in Moscow

By Andrei Skvarsky. Austrian bank Raiffeisen has promoted Martin Schwedler to chief executive officer of its investment banking unit in Russia. The joint venture, owned equally by Raiffeisen Investment and ZAO “Raiffeisenbank” in Moscow, offers Russian corporate customers access to equity capital markets and M&A services. Shvedler said he plans to expand the activities of Raiffeisen’s local investment banking… Continue Reading

Raiffeisen snaps up Swedbank's Russian retail business

By Andrei Skvarsky. Raiffeisenbank has bought a Russian retail business from Swedbank, a Swedish lender with a global network which is shutting its entire retail operation in Russia. Joining the swelling ranks of foreign banks shutting their Russian retail operations, Swedbank offloaded its retail division in Kaliningrad to Raiffeisenbank and plans to sell off its remaining… Continue Reading

Kazakhstani banking: Accelerated lending coupled with jump in NPLs

By Rustam Botashev, Deputy Head of Research at UniCredit Securities. Kazakhstan’s bank supervisory committee has published 6M11 banking statistics, showing accelerating loan growth on the backdrop of deteriorating asset quality. We reiterate our Buy recommendations for Halyk Bank (12M TP of USD 14.3) and Kazkommertsbank (USD 9.6). Lending in Kazakhstan accelerated in June, with 1.3%… Continue Reading

BCS poaches top e-traders from RenCap

By Andrei Skvarsky.   Russian broker BCS has hired three senior electronic traders from Renaissance Capital, including head of e-trading Stanislav Surikov.   The other RenCap defectors are Rizwan Kayani, who was chief operating officer at Renaissance’s e-trading group, and Michael Smith, who was in charge of the group’s international sales.   BCS, a Moscow-based… Continue Reading

Evrofinance Capital asks state to halt Micex-RTS merger

By Andrei Skvarsky.   Evrofinance Capital, a Micex minority shareholder, has asked for an official order to reverse the merger of Russia’s biggest stock exchange with the RTS bourse.   The merger will be damaging to Micex, its shareholders, the Russian financial markets and the country as a whole if based on the current scenario,… Continue Reading

EXCLUSIVE: Interview with Yevgeny Kogan of Moscow Partners

 By Andrei Skvarsky. Yevgeny Kogan, president of the Moscow Partners investment boutique and a former senior partner at Russian wealth management firm Third Rome, talks to EmergingMarkets.me about his company’s history, current business and plans. Yevgeny, what is your role in the company, which you and Igor Moryakov have founded as partners?  It may be… Continue Reading

WEAFER COMMENT: A Bellerophonic Message

By Chris Weafer, Chief Strategist at ING in Moscow. There continues to be only one key event in global markets and that is the US debt deal. As this note goes out, there is optimism that a deal will be reached either this evening or tomorrow. That should allow for a modest relief rally in… Continue Reading

Equity fund flows: Investors remain optimistic and sidelined

By Chris Weafer, Chief Strategist at ING in Moscow. The total volume of money invested into emerging market (EM) funds last week was relatively low, even for midsummer, as investors prudently remained on the sidelines while waiting for a resolution of the US debt talks. But, although low, the net flow remained positive as a… Continue Reading

UralSib hires Pioneer Investments banker as head of marketing

By Andrei Skvarsky.   Russian bank UralSib has hired Karen Kesoyan from global investment management firm Pioneer Investments as head of marketing and business development at its asset management division.   Kesoyan spent 12 years at Troika Dialog, first as head of public relations and then as advertising director, before joining Pioneer Investments, where he… Continue Reading

Otkritie changing face

 By Andrei Skvarsky. Russian broker Otkritie is going to change its logo, overhaul its websites and carry though a major advertising campaign as part of a newly launched rebranding project. In the course of this re-imaging effort, Otkritie, which has jumped nine positions up on Thomson Reuters Extel’s best Russian brokers lists since last year,… Continue Reading

UralSib hires former Barclays analyst

By Andrei Skvarsky. Russian bank UralSib has hired Anton Tabakh, a former researcher at Barclays and Troika Dialog, as senior fixed income analyst. Tabakh spent several months as a freelance analyst after a brief stint with Barclays. He was senior fixed income analyst both at Barclays and at Troika, covering Russia, Ukraine and Kazakhstan in… Continue Reading

Hillary Clinton bans Russian officials involved in Magnitsky case

By Ivan Anderzhanov. US Secretary of State Hillary Clinton has imposed visa sanctions on Russian government officials associated with the death in police custody of Hermitage Capital’s lawyer Sergei Magnitsky. America is the first country to officially impose sanctions on the Russian officials involved in the Magnitsky case, according to an emailed statement from Hermitage. “The facts… Continue Reading