Lehman Hires Senior Staffers As Firm Returns to Russia

Wall Street Journal

September 2, 2007

By JASON CORCORAN in Moscow

Lehman Brothers Holdings Inc. has made two senior hires in Moscow as part of its plan to launch full investment-banking services in Russia and hire 60 staff by the end of the year.

The U.S. bank has recruited Stan Raskin, director of investment banking at Troika Dialog, as executive director. Mr. Raskin, who worked for Lehman in New York from 2000 to 2002 advising information-technology companies, will help
develop investment-banking services.

The bank also hired Irina Volkova, a vice president at Merrill Lynch & Co. in Russia, as chief administrative officer.

The two are the first senior appointments by Nicholas Jordan, who joined Lehman in April as vice chairman and head of the investment-banking
business for Russia after being wooed from Deutsche Bank with an annual package valued at more than $7 million.

Lehman, which had been serving its Russian clients from London since leaving Moscow after the 1998 financial crisis, moved into new offices near the British Embassy on Moscow's Savvinskaya embankment in July.

The bank is expected to shortly announce other new hires and plans to secure a Russian trading license.

Lehman's return to Moscow after nine years would spell the end of its M&A advisory
tie-up with Russian investment bank Renaissance Capital, according to people familiar with the matter. Lehman Brothers declined to comment.


From Financial News at www.efinancialnews.com.