Monday, 26 May 2008

Deutsche begins Russian fightback with Moscow hires

Financial News

Harry Wilson and Jason Corcoran in Moscow

20 May 2008 updated 20 May 2008 at 08:32 GMT

Deutsche Bank has made 15 hires, promotions and internal transfers to its Russian business as it moves to repair the damage to its Moscow office wrought by a wave of senior departures in recent months.

The German bank has hired 11 staff to fill gaps left in its investment banking business by the departure of several bankers to state-owned rival VTB, including five for its Moscow-based equity research business.

The hires come just months before a change of senior management in Deutsche Bank’s Moscow office, with Igor Lojevsky, formerly head of Dresdner Kleinwort’s Russian business, joining the bank to replace Charlie Ryan as chief country officer.

Deutsche today confirmed Ryan is set to give up his day-to-day duties at the bank and become chairman of the operation when Lojevsky joins the business in late August. Financial News first reported the news yesterday.

Mikhail Seleznev has been hired from Citigroup as co-head of equity research along with Jaroslov Lissovolik. Seleznev was previously a metals and mining analyst at Citigroup, while Lissovolik was already a senior analyst in Deutsche Bank’s Moscow office.

The bank has made four other hires for the research business, with Tatiana Kopoustina joining from Aton Capital, the Russian business of Italy’s UniCredit, to cover the oil and gas industry; Bob Kommers from UBS to cover industrials and banking; Igor Semenov from ING to cover telecoms; and Brady Martin from Moscow-based broker Alfa Bank to cover retailers.

Dalinc Ariburnu, global head of emerging markets in Deutsche Bank’s global market business, said: “The Deutsche Bank business in Moscow is one of our most important emerging markets franchises, and having lost quite a few staff recently we wanted to move quickly to fill the gaps left.”

Pavel Dimitriev head of debt capital markets at Dresdner Kleinwort in Russia has been hired to head Deutsche Bank’s corporate coverage business in Russia and will be responsible for the bank’s global markets marketing operation in the country.

Deutsche Bank has also promoted its head of corporate equity derivatives trading for Russia and the CIS, Batubay Ozkan, to head of debt trading for the region, as well as hiring Alex Ponomorenko, from a Los Angeles-based private equity firm to run its illiquid credit, private equity and real estate trading business.

Tim Wiswell and Jack Busta have been appointed to run equity sales and trading in Moscow. Busta was a senior derivatives trader in Deutsche Bank’s London office and will oversee equity derivatives trading in Russia, while Wiswell was a senior salesman in Moscow for the bank.

Additionally, David Johnson has joined the equity sales trading desk from Alfa Bank, while Sergei Suverov has joined the domestic equity sales team from Citigroup.

Alexey Bolshakov and Patrick Vebel join the general Russian equity sales team from DWS and Deutsche Asset Management respectively. Yassine Rhalib, a derivatives structuring banker in London, transfers to Moscow to cover derivatives sales to corporates.

The hires will not be the last Deutsche Bank makes for its Russian business and the bank said it will add more staff in its Moscow office soon as it continues the process of filling jobs left by departed staff.

Ariburnu said: “We have been carefully choosing who we want to hire and expect to announce more appointments over the next couple of weeks.”

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