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 of Troika in a $200m (€158m) deal. Yuri Voitsekhovksy, chairman and president of Standard Bank Russia & David Duffy, chief executive of Standard Bank will continue in their positions. Ghavami quit Lehman Brothers after it was acquired by Nomura (Japan) last year. Troika CEO and founder Ruben Vardanian’s share in the bank will fall from 60% to just over 40%, but will maintain control as Chairman.
Nomura is planning to merge its Moscow team & Lehman Brothers & keep Jordan (former employee at Deutsche Bank) to head the business. Maxim Seltzer (former head of Russia and CIS for Nomura), is expected to become a general director.