Credit Suisse Group, a co-manager of Russia’s first international bond sale in more than a decade, has hired five fixed-income specialists in Moscow from global rivals as competition for local talent intensifies.
Three of the hires came from Deutsche Bank, led by Valery Pushnya, who was named a managing director and head of trading for Russia and other former Soviet states, according to an e-mailed statement from Credit Suisse. Alexander Danilenko and Anastasia Shamina followed Pushnya from Deutsche Bank and report to him.
The bank is building “a full-service foreign-exchange, rates and local securities presence in Moscow,” Credit Suisse said in the e-mail.
The Swiss bank hired Sergei Sadomtsev from Morgan Stanley and Alexandra Pavlova from Royal Bank of Scotland Group to work on the fixed-income team under Andrei Chuprin. All five appointments are effective immediately.
Credit Suisse was chosen last month along with Barclays Capital, Citigroup Inc. and VTB Capital to help Russia raise as much as $17.8 billion selling international notes. Credit Suisse and BNP Paribas led other banks in arranging Russian aluminum producer United Company RusAl’s $2.2 billion initial public offering in Hong Kong earlier this year.
The bank is the leading arranger of eurobonds in Russia in the past five-year period with 36 mandates and a 13 percent market share.
Zurich-based Credit Suisse joins global rivals Goldman Sachs Group and JPMorgan Chase in hiring Russian specialists to compete with Moscow-based brokerages VTB, Troika Dialog and Renaissance Capital as the local economy recovers from its worst contraction on record. Russian companies will probably sell a record 1 trillion rubles ($34 billion) of domestic bonds this year, according to Trust Investment Bank in Moscow and ING Groep.
Goldman in January hired Tav Morgan, a former deputy chief executive officer of Norilsk Nickel, Russia’s biggest mining company, to improve its commodities business in the former Soviet Union, while JPMorgan lured Yan Tavrovsky back from Morgan Stanley to run its investment business in Moscow.
Renaissance Capital, or RenCap, the Russian brokerage half-owned by billionaire Mikhail Prokhorov, last week hired Credit Suisse’s Nikolai Yukovich to run its emerging-markets currency team amid an “aggressive” global expansion. Otkritie Financial Corp., a Russian brokerage part-owned by VTB Group, last week said it recruited 18 people for its new debt and currency market units.
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