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Vyugin Named to Adviser Role

Oleg Vyugin, chairman of the board of directors at MDM Bank, was appointed a senior adviser at Morgan Stanley, the bank said, Interfax reported.

Vyugin will be in charge of Russia and other former Soviet countries.

"I am very pleased to be joining Morgan Stanley, the market-leading international investment bank in Russia, and I look forward to working with a team that has built an outstanding reputation in our market in IPOs, M&A and other areas of capital markets," he said. "Activity in Russian capital markets continues to intensify, driven both by private companies and the privatization program, and Morgan Stanley is well-positioned for this future activity."

A financial market source told Interfax earlier that Vyugin would be appointed an adviser at Morgan Stanley and remain an MDM Bank director.

(MT)

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