By Andrei Skvarsky. Verno Capital, a fund manager focused on Russia and the CIS, has announced three senior hires and a plan to launch a Russia debt fund. Natalia Zagvozdina comes over from Renaissance Capital to head the research team at Verno, according to a statement from the Russia-domiciled fund manager, which was set up… Continue Reading
Moscow Exchange's list of firms eligible for T+2 trade more than trebled
By Andrei Skvarsky. Moscow Exchange has more than trebled the list of companies eligible to trade their shares under the T+2 settlement scheme, an arrangement where payment must be made within two business days of a transaction. The list went up to 50 from 15 as of Monday as part of a process in which… Continue Reading
Carlyle asset manager buys out packaging producer Chesapeake
By Andrei Skvarsky. Global alternative asset manager The Carlyle Group has announced it has bought Chesapeake, one of the world’s largest manufacturers of paper-based packaging, from two US-based companies, private equity firm Irving Place Capital and asset manager Oaktree Capital Management. {{{?}}} Credit Suisse, Goldman Sachs, UBS and Barclays financed the transaction, Nicholas Mockett, head… Continue Reading
Sberbank abolishes commissions for ATM use in Turkey, Croatia
By Andrei Skvarsky. Russia’s Sberbank has made cash withdrawals from its ATMs in Croatia and from those of its subsidiary Denizbank in Turkey commission-free for holders of Sberbank debit cards. There will be zero commission for holders of Visa Classic, MasterCard Standard, Visa Gold, MasterCard Gold, Visa Platinum and MasterCard Platinum cards if they use ATMs… Continue Reading
Moscow Exchange to host forum in London
Moscow Exchange is to host a forum in London on July 3 to discuss the potential of Russian financial markets, the bourse’s products and information technology plans, and make a presentation of Russia’s National Settlement Depositary. {{{?}}} Moscow Exchange’s chief executive Alexander Afanasiev, deputy chief executive Andrey Shemetov and head of IT Sergei Poliakoff are… Continue Reading
Sberbank takes over control of Citi’s Turkish retail business
By Andrei Skvarsky. Denizbank, the Turkish subsidiary of Russia’s biggest lender Sberbank, has completed the acquisition of Citibank’s consumer banking business in Turkey. Under an agreement effective from July 1 and first announced in April, Denizbank, which is one of Turkey’s largest banks, is taking over a clientele of more than 600,000, assets of 1.2bn… Continue Reading
Sberbank pulls off cooperation deal with Gulf’s top-notch NBAD
By Andrei Skvarsky. Russia’s biggest lender Sberbank and a top bank in the Gulf, National Bank of Abu Dhabi (NBAD), have reached an agreement to cooperate in trade financing, loan syndication, client support and investment banking. “Access to new financial markets is an integral part of our international strategy,” a Sberbank statement quoted the Russian… Continue Reading
Macquarie in full control of infrastructure fund as RenCap, Renaissance Group pull out
By Andrei Skvarsky. Macquarie, a global financial services provider, has become the sole manager of a major infrastructure investment fund, an entity it used to co-manage with Renaissance Capital and Renaissance Group. RenCap and Renaissance Group ceded their co-managerial roles to Macquarie under an agreement which, via the takeover of RenCap’s stake, doubled the Australia-based firm’s… Continue Reading
Sberbank CIB employs ex-govt official to run infrastructure finance
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has hired Konstantin Pesotsky from the Moscow city government as head of infrastructure finance at its investment arm, Sberbank CIB. Pesotsky was deputy head of the city government’s property department in his previous position. He held a series of jobs in the investment industry, including roles at Goldman… Continue Reading
Russia's Renaissance Capital opens annual investor conference
Renaissance Capital on June 24 opened its two-day 17th Annual Investor Conference in Moscow, an event expected to bring together more than 700 guests, including major global investors, senior managers from some of Russia’s largest companies and key political figures. Exclusive one-to-one meetings, of which more than 1,500 are expected to take place, will make… Continue Reading
Russia’s Unicorn Capital buys key maker of glass facades
By Andrei Skvarsky. Moscow-based buyout fund Unicorn Capital Partners with target capitalisation of $500m has announced its first acquisition, the purchase of controlling interest in Constanta Group, one of Russia’s largest designers and manufacturers of translucent façade systems and other glass products. Unicorn, whose main objective is to buy out undervalued small and medium enterprises… Continue Reading
GUEST ARTICLE: Do IT with Poland – IT sector as powerhouse of Polish economy
By Jakub Smela, Public Relations Manager, M Promotion Agency, Warsaw. A strong Polish representation at this year’s E3 Expo in Los Angeles is a good reason to take a closer look at the dynamically growing Polish sector of new information and communication technologies. It was not without a reason, that during his last visit to… Continue Reading
EXCLUSIVE: Russia’s BCS gets UK regulatory go-ahead for business, plans hires
By Andrei Skvarsky. The London-based arm of Russian broker BCS has received British regulatory authorisation for brokerage business and plans a series of key hires for the next four to six weeks. The authorisation from the Financial Conduct Authority (FCA) to deal with and advise on investments and hold client assets marks the official launch… Continue Reading
Moscow Exchange-Deutsche Börse deal allows selling Deutsche Bank shares in Russia
By Andrei Skvarsky. Moscow Exchange and Deutsche Börse have signed an agreement allowing Deutsche Bank, Siemens, BMW, Volkswagen and Daimler shares to be traded at the Moscow bourse as from September this year. The two exchanges picked some of Germany’s most liquid shares for their deal, Moscow Exchange chief executive Alexander Afanasiev said after he… Continue Reading
Sberbank lending $2.2bn to Potanin’s Interros conglomerate
By Andrei Skvarsky. Sberbank CIB, the investment arm of Russia’s biggest lender Sberbank, has pledged to open several five-year credit lines to a total of $2.2bn for oligarch Vladimir Potanin’s Interros multi-industrial investment conglomerate. The money will be used to refinance part of Interros’s current loan portfolio and fund some of the projects of the… Continue Reading
BrokerCreditService gets to top spot in Moscow bourse derivatives trade
By Andrei Skvarsky. Russia’s BrokerCreditService (BCS) has taken the number one spot by derivatives trading volumes at Moscow Exchange for May, pushing rival Moscow broker Otkritie down to second place. BCS, which set up an office in London from scratch less than a year ago, posted a turnover of 1.82trln rubles ($57bn) in the bourse’s… Continue Reading
BankersAccuity launches database on Russian politically exposed persons
By Andrei Skvarsky. BankersAccuity, a company setting global standards for payment efficiency and offering compliance solutions, is launching the first politically exposed person (PEP) database for the Russian market in a bid to prevent fraud, money laundering and bribery. {{{?}}} The database contains data on individuals who are part of the executive, legislative or judicial… Continue Reading
Sberbank hires bankers from J.P. Morgan, RBS for commodity trading, equity financing
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has announced two senior hires for the fixed income, currencies and commodities (FICC) division of its investment arm, Sberbank CIB. Francois Mantion has joined from J.P. Morgan as head of commodity trading and Raymond Bird came over from Royal Bank of Scotland (RBS) to take charge of strategic… Continue Reading
VTB Capital’s appoints an Independent Non-Executive Director to the Supervisory Board of Nova Ljubljanska Banka
Miha Košak, Central & Eastern European (CEE) Coverage Banker at Global Banking Department at VTB Capital, has been appointed as an Independent Non-Executive Director to the Supervisory Board of Nova Ljubljanska Banka (NLB), Slovenia’s leading bank. The four year appointment was confirmed at NLB’s annual general meeting of shareholders. NLB Group is the largest Slovenian… Continue Reading
Prudential Real Estate Investors expands Global Real Estate Securities Team
CBRE Global Investors named Jean Lamothe as head of value-add investments in Europe, the Middle East and Africa. Lamothe’s role will be to provide clients with a new range of investment opportunities across Europe. Lamothe, who has been with CBRE Global Investors since 2010, will continue to be based in London. CBRE Global Investors named Michael Ness as head… Continue Reading
CBRE acquired Sogesmaint-CBRE
CBRE Group, the global commercial real estate services and investment firm, today announced that it has acquired full ownership of SOGESMAINT-CBRE, a property and asset management specialist operating in Belgium. CBRE has held a minority interest in the company since 2006. SOGESMAINT-CBRE was established in 1973 and today it is one of the leading property… Continue Reading
CBRE Global Investors names head of value-add investments for EMEA
CBRE Global Investors named Jean Lamothe as head of value-add investments in Europe, the Middle East and Africa. Lamothe’s role will be to provide clients with a new range of investment opportunities across Europe. Lamothe, who has been with CBRE Global Investors since 2010, will continue to be based in London. CBRE Global Investors named Michael Ness as head… Continue Reading
EBRD provides €30m for district heating infrastructure in Western Ukraine
The EBRD is continuing its drive to modernise Ukraine’s district heating sector with investments aimed at increased energy and cost efficiency, improved financial sustainability and regulatory reform of municipal utilities. {{{*}}} Its latest project in this sector, in the largest western Ukrainian municipality of Lviv, will consist of an EBRD loan of up to €20… Continue Reading
Baring Asset Management makes senior appointments at it's Emerging markets team
Baring Asset Management appointed Staffan Lindfeldt as head of Global Emerging Market Equities, and will be responsible for leading and managing the Global Emerging Market (GEMs) Equities Team. Joining from Handelsbanken Asset Management in Stockholm where he has been chief portfolio manager for Global Emerging Markets since 2006, Lindfeldt will be the lead investment manager on several of… Continue Reading
Reviving The Future Of Retail Banking Through Islamic Finance
5th Worild Islamic Retail Banking Conference, (26 – 27 November, Shangri-La Hotel in Dubai – UAE), will gather global industry leaders to brainstorm, understand and analyze the importance of Islamic finance in regards with retail banking. Global Islamic banking assets with commercial banks to reach $1.8 trillion in 2013 (2011: $1.3 trillion), representing average annual… Continue Reading
Millions of euro of Western support and assistance risk being wasted unless the Ukrainian government will start being active in the energy efficiency and renewable energy sectors
“Ukraine is stumbling forward not being able to drop opportunity fully, yet” said Dave Young, Chairman of the European-Ukrainian Energy Agency as closing remark of the 4th European-Ukrainian Energy Day “Ukraine’s Energy Market: Steps Forward or Lost Opportunity?” {{{?}}} Over 200 stakeholder from the energy efficiency and renewable energy sectors, among which representatives from international state institutions, diplomatic… Continue Reading
Standard Charteted hires equity research analyst
Standard Chartered has named Zhang Su as equity research analyst, emerging companies. He is based in Hong Kong and reports jointly to Jeremy Sutch, head of emerging companies research, and Erwin Sanft, head of Hong Kong/China equity research. In this role, he will be responsible for covering emerging companies in China and Hong Kong. His… Continue Reading
EBRD channels €52.1 to major Ukrainian developer
The EBRD is organising a financing package of up to €52.1 million to a major domestic retailer, Multi Veste Ukraine, for the construction and development of an international quality, inner-city retail centre. Up to €30 million of the total amount will be syndicated to Unicredit Bank. {{{*}}} The project represents a substantial investment into the… Continue Reading
PineBridge Investments appoints Chief Investment Officer
PineBridge Investments announced an appointment of new chief investment officer. Wael Aburida will lead the company’s MENA Private Equity and Real Estate Team covering the Middle East, North Africa and Turkey, with responsibility for deal origination, negotiations, execution, portfolio management, and exits. Aburida joins from UAE-based Waha Capital where he was director of Mergers & Acquisitions, and was… Continue Reading