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Morgan Veterans Hired

Rosneft has appointed a team of Morgan Stanley veterans led by former co-president Walid Chammah as advisers to President Igor Sechin, the oil company said Monday.

Two top executives from Morgan Stanley's Moscow office, Rair Simonyan and Yelena Titova, have also been hired to advise Sechin.

Titova will also become president of a Rosneft-owned bank, the mid-sized Russian Regional Development Bank.

Chammah and Simonyan will join its board, aiming to develop it into a universal financial institution, Rosneft said in a statement.

Chammah and Simonyan said in separate interviews that the advisers would develop an energy trading platform as part of a mandate to create a new financial institution out of Rosneft's scattered financial assets.

(Reuters)

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