Otkritie appoints ex-president of Moscow Exchange CEO

Ruben Aganbegyan has joined Otkritie Financial Corporation in Moscow as CEO and chairman of the managing board.

Aganbegyan (pictured) was previously president of the Moscow Stock Exchange and headed the merger of MICEX and RTS between 2008 and 2010.

His career spans over almost two decades, including seven years as head of Renaissance Capital’s Russian operations, a year as director for project financing and head of investment banking at Troika Dialog and five years as co-head of the Credit Suisse Russian operations.

The appointment follows the hire of Mikhail Sukhobok, also from MICEX-RTS, as head of the firm’s global electronic trading division. He joined the group in May, becoming a member of the management board and deputy CEO.

Vadim Belyaev, Otkritie founder and major shareholder, commented: “As part of our continued expansion, Otkritie is committed to hiring the best talent from across the industry and Ruben’s appointment is a perfect example of this.”

Otkritie Financial Corporation is one of Russia’s leading financial institutions, focusing on investment banking, commercial banking, brokerage services and asset management.

It has more than 240 offices in 26 Russian cities, as well as in New York, London, Frankfurt, Limassol and Kiev.

As part of its expansion plan, in August Otkritie bought a 20% stake in Nomos Bank from Czech financial group PPF, as the former sold off its 26.5% stake.

Now Otkritie plans to buy the remaining shares in the bank in its effort to “become Russia’s largest independent and publicly-traded financial group.”

According to Bloomberg, the corporation will make a buyout offer in the next two weeks. The new source refers to a statement from Otkritie saying that after buying all of Nomos, it will get 25% of the investment group. Affiliates of Nesis’s ICT Group, state-run VTB Group and businessmen Boris Mints and Alexander Mamut will end up with around 10% each.

The move marks one of the largest M&A deals in Russian banking in the last few years.

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