Moscow’s Expobank, the former Russian retail unit of British bank Barclays, has hired Nikita Riauzov, {{{*}}} an ex-top manager at Russian lender MDM, as head of corporate and investment banking.
Riauzov spent nine and a half years at MDM, one of Russia’s largest private banks, first as head of corporate and investment business and then, from July 2011, as deputy chief executive. He left Moscow-based lender several weeks ago.
Barclays bought Expobank for $745m in 2008, but sold it to Russian banker Igor Kim in 2011, being unable to rival state banks in Russia’s retail banking market. Renamed Barclays Bank after its acquisition by the British high-street lender, Expobank went back to its previous name after being taken over by Kim.
An Expobank statement cited Riauzov as arguing that there is serious demand for investment banking services to midsized companies in Russia, and that Expobank is “one of the relatively few financial institutions” with sufficient capital and an adequate infrastructure to fill this niche.
Expobank is also well-equipped to finance mergers and acquisitions and other deals, according to Riauzov.
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