Emerging Markets, Emerging Russia, Emerging Views
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By Ivan Anderzahnov
UK bank Barclays may offload its Russian regional retail banking network to a unit of Renaissance Group.
Barclays is in talks about selling 12 regional branches to Renaissance Credit, the consumer finance arm of the investment banking group Renaissance, according to Russian daily Kommersant.
The British giant acquired Russian lender Expobank in March 2008 for [...]
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By Jamie Allsopp, Fund Manager, Insparo Asset Management
In 2009, Russia suffered a decline in the wealth of their richest citizens. According to a Merrill Lynch report, the number of Russians who qualified as high net worth individuals fell by 28.5% – more than a quarter of its original wealthy population.
While the fall in the high [...]
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By Andrei Skvarsky
Russia’s largest lender Sberbank has hired Dmitry Romaev as head of its new debt capital markets unit for Central and Eastern Europe, the Middle East and Africa (CEEMEA) from Otkritie.
Romaev, who was previously chief financial officer at Otkritie, said the unit had already hired three other bankers to work on large sovereign [...]
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By Andrei Skvarsky
Deutsche Bank, Germany’s largest bank, has opened a second office in St. Petersburg, a facility that will house an information technology unit.
The greater part of the new office space, rented for a team of Deutsche’s Global Technology Capital Markets (GT CM) in the Severnaya Stolitsa business centre, is in use already and the [...]
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By Rustam Botashev, Equity Analyst at UniCredit Securities
VTB is to present its new strategy today. Chief executive Andrei Kostin has already disclosed a few key points: the bank is to focus on more profitable retail and investment banking and targets a share price of RUB 0.15 by 2013, implying a 10% ruble return and [...]
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By Ivan Anderzhanov
More than half of Russian bankers were not paid a bonus for last year, according to a survey of 160 foreign and domestic financial institutions by recruiter Antal Russia.
Just 47 percent of bankers got 2009 payouts which were doled out in the spring of this year. Many financiers were paid nothing at all [...]
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By Marcus Williams
Moscow’s RTS stock exchange yesterday launched a new index based solely on Siberian based companies, creating what it said is the first ever regional stock index in Russia.
Its RTS Siberia Index tracks ten enterprises in the Siberian Federal District, including Norilsk Nickel, Gazprom Neft, Beon, Raspadskaya and MDM Bank.
The bourse said the index [...]
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By Ivan Anderzhanov
Russian brokerage Otkritie is strengthening is UK operations with the promotion of London-based Howard Snell to the role of executive chairman and Evgeny Kunts to the position of deputy chief executive officer.
The firm also said that it will be building up its sales trading team based in London over the next year while [...]
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By Ivan Anderzhanov
Mid-sized Russian bank Orient Express plans to launch Russia’s first initial public offering in the banking sector since the financial crisis rocked the markets almost two years ago.
Sergei Vlasov, chief executive, told Reuters it didn’t make sense to tap the market for less than $200 million. Vlasov is reported to own a 15.6 [...]
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By Ivan Anderzhanov
Dmitry Patrushev, a former vice-president at state-controlled VTB Bank, has been named as chief executive of Russian Agriculture Bank, in a big shake-up at Russia’s fourth-biggest lender.
Patrushev has some useful connections. His pater is Kremlin Security Council boss Nikolai Patrushev, who is believed to be a close comrade of prime minister Vladimir Putin.
Dmitry [...]
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By Andrei Skvarsky
Deutsche Bank has recently hired Igor Sorokin from Troika Dialog, appointing him as vice president in charge of structuring.
The German bank seems to be back in the market for new hires following yesterday’s announcement of two analyst hires, George Buzhenitsa and Natalia Smirnova, from UniCredit Securities.
Other rivals have so far been plundering from [...]
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By Marcus Williams
Italy’s UniCredit Securities has been hit by two more defections from its Russia team following the departures of analysts George Buzhenitsa and Natalia Smirnova for Deutsche Bank.
UniCredit has suffered a number of defections and departures from its research team, not least since Aton relaunched its institutional business last [...]
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