By Andrei Skvarsky.
Ex-head of MICEX Alexei Rybnikov has been appointed as president of the St Petersburg International Mercantile Exchange (SPIMEX), a commodity trading floor.
SPIMEX’s board of directors unanimously put the reins in the hands of Rybnikov, who headed JP Morgan Chase’s investment banking operation in Moscow and Russia’s National Depository Centre before joining MICEX, the country’s biggest stock exchange, SPIMEX said in a statement.
Rybnikov stayed at MICEX from 2003 to 2009, being a strong advocate of its merger with the other principal Russian bourse, RTS, a fact that has received little publicity. He proposed unification principles that might arguably have mitigated Russia’s 2008 banking crisis.
However, his initiatives produced little enthusiasm in government. He was effectively demoted in March 2009 when Konstantin Korishchenko was parachuted from the Central Bank to take up a newly created top job.
Rybnikov moved to SPIMEX from Russian financial services company RSX, where he was general director.
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