By Andrei Skvarsky. UFG founder Charlie Ryan has sealed his reputation as the most successful foreign banker in Russia ever by clinching a deal which nets him a fourth payout from Deutsche Bank. The American banker, who oversaw Deutsche Bank’s Russian operation from 2005 to 2010, is selling Deutsche the remaining 60% stake in UFG’s… Continue Reading
Tag Archives: US
EXCLUSIVE: Otkritie hires Hyerdale’s D’Angelo to run American sales
By Andrei Skvarsky. Otkritie has hired Patrick D’Angelo from U.S. hedge fund Hyerdale Capital as director of equity sales and trading at the New York office of the Russian investment bank. D’Angelo’s new role means involvement in Otkritie’s planned expansion in the United States, Canada and South America, Luis Saenz, chief executive of… Continue Reading
Canadians mull visa ban for Magnitsky officials
By Andrei Skvarsky. Canada is considering joining the United States in denying entry visas to Russian officials blamed for the death in jail of Hermitage Capital fund lawyer Sergei Magnitsky. “The ongoing impunity, and indeed, in this instance shocking impunity regarding Russian officials is as scandalous as it is shocking,” Irwin Cotler, a member of… Continue Reading
KRAUS COMMENT: The Twilight of the West
By Eric Kraus, author of the Truth and Beauty (and Russian Finance). The good news is that we have a ringside seat for the decline of the West… the bad news – we are inside the ring! The miserable thing about being a seer is that when you get it right – no one remembers… Continue Reading
Merrill Lynch promises “strategic hires” in Russia
By Andrei Skvarsky. Bank of America Merrill Lynch has announced it “is strengthening its infrastructure” in Russia and is going to make “strategic hires”. Moving to new offices in central Moscow is part of BAML’s expansion in Russia, according to a statement by the bank, which recently dismissed one of its top Moscow-based… Continue Reading
BNP Paribas may buy out Pioneer Investments unit from UniCredit
By Andrei Skvarsky. France’s BNP Paribas is considering a partial buyout of a Russian subsidiary of US-based investment manager Pioneer Investments from Italy’s UniCredit. TKB BNP Paribas Investment Partners, a firm controlled by the French lender and Russian railways monopoly RZD, would take over three funds with total assets of 998m rubles ($31.4m) from Pioneer… Continue Reading
KRAUS COMMENT: The Eternal Russia – The Eternal Return
By Eric Kraus, author of Truth and Beauty (and Russian Finance). The major story is, of course, the return of Vladimir Putin to the Russian presidency – an outcome which we always thought likely given that Medvedev seemed a deeply counterintuitive choice for the Russian presidency. Totally lacking in charisma and with no experience of… Continue Reading
Merrill Lynch promises “strategic hires” in Russia
By Andrei Skvarsky. Bank of America Merrill Lynch has announced it “is strengthening its infrastructure” in Russia and is going to make “strategic hires”. Moving to new offices in central Moscow is part of BAML’s expansion in Russia, according to a statement by the bank, which recently dismissed one of its top Moscow-based managers, Sergey… Continue Reading
Otkritie nabs Natkin for New York sales position
By Marcus Williams. Russia’s Otkritie Capital has recruited J.P. Natkin from French bank Credit Agricole as director of equity sales for its new Wall Street office. J.P. Natkin, a Russia veteran with over two decades of experience, worked in Russia for the Australian resource venture capital group Vanguard Petroleum. Most recently, he served as a… Continue Reading
J.P. Morgan lends $100m to Sberbank
By Andrei Skvarsky. J.P. Morgan has extended a five-year loan of $100m to Sberbank for the “pre-export financing of a corporate client in the Russian oil and gas sector”, Russia’s biggest lender said. The loan “comes at a time of uncertainty about the availability of liquidity in Europe and is testimony to our trusted relationship… Continue Reading
GOLDMAN COMMENT: Swissy never lies
By Jim O’Neil, Chairman of Goldman Sachs Asset Management. In the context of the ongoing challenges in the US, the Euro Area and elsewhere, this week I have chosen to focus on the Swiss Franc currency. Throughout the market mayhem of August, and its subsequent carry over into the start of September, the Swiss Franc… Continue Reading
Equity fund flows: Investors remain optimistic and sidelined
By Chris Weafer, Chief Strategist at ING in Moscow. The total volume of money invested into emerging market (EM) funds last week was relatively low, even for midsummer, as investors prudently remained on the sidelines while waiting for a resolution of the US debt talks. But, although low, the net flow remained positive as a… Continue Reading
Hillary Clinton bans Russian officials involved in Magnitsky case
By Ivan Anderzhanov. US Secretary of State Hillary Clinton has imposed visa sanctions on Russian government officials associated with the death in police custody of Hermitage Capital’s lawyer Sergei Magnitsky. America is the first country to officially impose sanctions on the Russian officials involved in the Magnitsky case, according to an emailed statement from Hermitage. “The facts… Continue Reading
GOLDMAN SACHS COMMENT: Who would you want in EMU?
By Jim O’Neill, Chairman, Goldman Sachs Asset Management. Western sovereign debt issues rolled on again last week, with fierce competition between the US and the Euro Area for attention. As President Obama and Congress struggle to reach a budget compromise ahead of the debt ceiling deadline, two ratingagencies made it clear that failure to make… Continue Reading