Revealed: Russian computer whizz in Goldman Sachs trading storm started his career as a trainspotter

Sergey Aleynikov, the Russian-born computer developer charged with stealing precious Goldman Sachs‘ trading codes, started his career at the Ministry for Transportation in Moscow as a trainspotter. Aleynikov, a naturalised US citizen who emigrated from Russia in 1991, allegedly unlawfully copied, duplicated, downloaded and transferred computer codes from Goldman Sachs and uploaded the codes to… Continue Reading

Hires & Fires: Goldman banker surfaces at McKinsey/ Oligarch hires Merrill banker/ Nayak boost Deutsche's structuring team

Igor Livant, a former executive director at Goldman Sachs in Moscow, has surfaced as an associate principal at consultants McKinsey & Company. Livant, who left the American investment bank in February, had been at Goldman’s for three an a half years. He has extensive experience in equity and M&A deals in Russia and the CIS.… Continue Reading

EBRD bolsters Troika as banking system battens down the hatches

The European Bank of Reconstruction and Development has approved a $150 million five-year loan for Troika Dialog as part of the development bank’s $500m package to buttress Russian banks against a second wave of bad debt, which is expected to peak in two months time. The loan comes three months after South Africa’s Standard Bank… Continue Reading

Hires & Fires: Kandel quits Unicredit as Aton ramps up/ Blackrock parts company with Monoviski

By Taras Rybak in London Alexander Kandel, chief executive and head of investment banking at Italy’s UniCredit Securities in Moscow, is leaving the group just as it is engaged in a battle with Russian bank Aton for its staff. UniCredit said Kandel was leaving shortly for “personal reasons”  to take some time out and would… Continue Reading

Hires n Fires: HSBC names Sekora head of personal services/ Former RIM executive joins Fink fund

British banking giant HSBC has named Johan Sekora as head of personal financial services ahead of its formal launch into retail banking in Russia next Tuesday. Sekora will be responsible for launching, rolling out and managing the bank’s Russian retail operations. Sekora, who will be based in the bank’s Moscow headquarters, has been with HSBC… Continue Reading

Renaissance Capital is axing its annual investment forum / Senior executives are leaving Troika Dialog

Russian investment bank Renaissance Capital is axing its annual investment forum showcase in Moscow following a turbulent nine months when it has been forced to cut 50% of its staff and sell half of the company to billionaire oligarch Mikhail Prokhorov. The three-day forum has in the past attracted thousands of investors and fund managers… Continue Reading

Hires/Fires: Nomura boosts Russian research effort/ VTB Capital carry on hiring

Japanese investment bank Nomura has boosted its Russian research effort with the appointment of Ivan Tchakarov as an economist and Vladimir Zhukov as an equity analyst. Tchakarov, a Russian economist, is to be based in London while Zhukov will cover steel and raw materials from Nomura’s Moscow base. Zhukov had previously worked at Lehman Brothers… Continue Reading

VTB Capital hires equity sales gunslinger Capone/ ING's Wood hits the road

Exclusive: Hires/Fires Russian investment bank VTB Capital has recruited sales gunslinger Michael Capone from  Goldman Sachs in Moscow for its own growing equity sales team. The VTB press office declined to comment whether the recruitment of Capone represented an end to its hiring freeze. American Capone, an executive director at Goldman Sachs in Russia, joined… Continue Reading

Troika Dialog taps Nazarov from Credit Suisse for IB

Alexander Nazarov has defected to Troika Dialog from Credit Suisse, where he worked as director of the investment banking. Nazarov will join Troika as managing director in investment banking and will report to Jacques Der Megreditchian, Managing Director, Head of Investment Banking and Global Markets at the Troika Dialog Group. Prior to Credit Suisse, Mr.… Continue Reading

Emerging Markets: Russian International Reserves Decline

Russia’s international reserves declined for the second straight week as the strengthening dollar caused a currency revaluation. The world’s third-largest stockpile declined $1.1bn in the week to April 10 to $383.9bn, the Moscow-based central bank said yesterday. Reserves dropped $3bn in the previous week for the first fall in three weeks. “We put the fall… Continue Reading

Blog: Investors shy away from Russia's bubbling equity market

Investors fishing for emerging markets prefer to cast their line for commodities in Brazil rather than cast into Russia’s waters. The latest data last week from Emerging Portfolio Fund Research indicate new inflows into funds covering Brazil worth $462m while Russia funds reported a measly intake of $18m. While capital flows into Russia-dedicated funds dipped… Continue Reading

BRIC banks being built to last

Banks in the BRIC world of emerging markets are in better nick than their counterparts in the US and Europe, according to Allianz Global Investors, one of the world’s largest active fund managers. Allianz, a investment subsidiary of the German insurer with £850bn under management, said the lack of exposure to the toxic assets plaguing… Continue Reading

Blog: The Revolution is dead, long live the USSR

The respective orange, rose and tulip revolutions of Ukraine, Georgia and Kyrgyzstan have wilted less than six years since they first blossomed. The 2005 Tulip Revolution, which overthrew the government of President Askar Akayev in Kyrgyzstan, did not transform this Central Asian republic into a blooming garden. The same is true of Georgia and Ukraine,… Continue Reading

Renaissance Capital wins first mandate from Prokhorov

Renaissance Capital has come up with an M&A authorization for major shareholder Mikhail Prokhorov since he holds a 50%-minus one share in the bank. RenCap is advising Onexim, (Prokhorov’s investment vehicle); the same company that helped Prokhorov acquire a share in the bank  last September on the purchase of 65% share in RBC Information Systems… Continue Reading

Troika Dialog appoints Boris Todorov as Director of Risk Management

In challenging times for global credit markets, Troika Dialog – leading Russian emerging markets investment bank is strengthening its Risk and Capital Management Division. As Troika Dialog’s Director of Risk Management, Boris Todorov will oversee market and credit risk within Troika Dialog’s Broker, Asset Management and Private Equity divisions. Mr. Todorov will report to Richard… Continue Reading

Standard Bank aquires stake in Troika Dialog

STANDARD BANK has appointed Peter Ghavami (former head of capital markets in Russia at Lehman Brothers & prior to that with UBS where he was the global head of commodities to partner Nick Jordan in building its Russian business) to control its investment in Moscow brokerage Troika Dialog. The South African bank acquired a third… Continue Reading

Institutional Investor ranks Russian research teams

Renaissance Capital, the emerging markets investment bank, has placed first in Institutional Investor’s 2009 Emerging Europe, Middle East and Africa (EMEA) research poll. The authoritative survey of buy-side investment professionals found that Renaissance Capital analysts are considered best-in-field in ten categories, with the next-best house securing two first-place rankings. Renaissance Capital’s team placed first in… Continue Reading

Senior bankers leave Merrill

BANK OF AMERICA MERRILL LYNCH has laid off Dmitri Rozanov one of the most productive dealmakers who led the Russian M&A business while based in London. He was previously with JP Morgan & was ranked number one in Thomson Reuters’ league table for the Russian region last year with 14 deals worth $24bn (€18.8bn). His… Continue Reading

JP Morgan establishes local office in Kazakhstan

J.P. Morgan announced today that it has opened a representative office in Almaty, the country’s financial capital, further enhancing the reach and capabilities of its successful investment banking franchise. The office is supported by J.P. Morgan’s industry and product teams worldwide, providing local Kazakhstan-based clients with a diversified line of investment banking products, including debt… Continue Reading

Renaissance Capital appoints new head of Private Equity business

RENAISSANCE CAPITAL has appointed Chris Baxter, the former chairman of investment banking as the chief executive of Renaissance Partners, to lead its private equity business. His appointment is subsequent to the loss of  two seniors (Richard Olphert and Rory Cullinan, chairman and deputy chairman) from the division ever since the start of the year. The… Continue Reading