Emerging Markets, Emerging Russia, Emerging Views
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By James Beadle from Market-Melange.com
Since 2003 former Yukos executives Mikhail Khodorkovsky and Platon Lebedev have been incarcerated in Russia on charges of tax evasion. At present, as their eight year stint enters its final stages, the two are on trial once more, charged with stealing millions of tonnes of oil (reputedly the same oil that [...]
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By Andrei Skvarsky
Stuart Lawson, the head of HBSC in Russia, has left his role in the latest big name departure at a foreign bank in Moscow.
Lawson’s surprise exit after just over two years in charge follows the departure of Bernie Sucher, country head of Bank of America Merrill Lynch, last month. [...]
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By Andrei Skvarsky.
Renaissance Capital has hired Will Abbott as co-head of equity domestic sales in the latest in a string of big name hires.
Abbott, who previously headed Deutsche Bank’s sales and trading business in Russia, shares the job of running the Moscow-based investment firm’s equity domestic sales with Ruslan Babaev, [...]
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By Marcus Williams
Russian investment bank Troika Dialog has offloaded a 17.1 stake in truck maker KamAZ for $428m.
Troika received about $428 million from Russian Technologies, a state holding company, from Daimler AG and from the European Bank for Reconstruction and Development, according to a report today by Vedomosti.
Bosses at Troika had been looking to rid [...]
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By Andrei Skvarsky
Russian stock exchange RTS registered a net profit of 1.44 billion ($46 million) last year, a 20% increase on 2008.
RTS Group’s priority investment areas in 2009 were infrastructure development, including building up its infrastructures in Ukraine and Kazakhstan, and new projects such as launching the cash equities market, RTS [...]
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By Andrei Skvarsky
Stockholm-based investment company East Capital Explorer has decided to close its real estate fund for Russia as the unit has received no investments since it opened in July 2008.
When the global financial crisis broke out, the company, whose area of operations is Eastern Europe, decided to keep its [...]
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By Chris Weafer, chief strategist at UralSib Capital
Deputy PM Shuvalov’s comment that Russia doesn’t want investors seeking “quick and easy money” has been making headlines and raising eyebrows since his interview with Bloomberg yesterday. It is unusual, to say the least, to have a senior minister, who’s role it is [...]
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By Andrei Skvarsky
TransCreditBank, a bank controlled by state rail transport monopoly Russian Railways, is setting up a full-service retailing division and has hired four ex-top managers of the Russian Standard bank to run the unit.
TransCredit Bank focusses on services for corporate clients, while for most of its current two million [...]
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By Andrei Skvarsky
Vladimir Tatarchuk will most likely be approved as one of the half-dozen deputy chief executives of VTB on June 19 after leaving Alfa Bank, where he was deputy chief executive and co-head of investment and corporate banking, Interfax said.
Interfax did not say what Tatarchuk would specialise in at state-controlled [...]
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By Andrei Skvarsky
Uralsib has parted company with a top analyst at its investment arm, Michael Kavanagh, without anyone to replace him, a senior executive told EmergingMarkets.me.
Konstantin Chernyshev, head of the financial corporation’s analysis department, declined to say whether Kavanagh has a new job.
Chernyshev played down Kavanagh’s departure, saying the research team [...]
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By Ivan Anderzhanov
Dutch bank ING has hired Dmitry Polevoy from KIT Finance to replace Tatiana Orlova as economist for Russia and Kazakhstan Commercial Banking.
Polevoy will be responsible for analysis of macroeconomic trends and forecasting. He will cover monetary, FX and fiscal policy issues in Russia and Kazakhstan together with real sector [...]
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By Ivan Anderzhanov
East Capital has completed the acquisition of Asia Growth Investors (AGI), a fund management company focussed on China.
The deal marks diversification for the Swedish investment firm focussed on Russia and Eastern Europe.
AGI, which is Swedish owned like East Capital, was founded in 2004 by fund manager Gustav Rhenman.
East [...]
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