Makram Abboud has been appointed as CEO Middle East & Africa and Co-Head of the International Multi-Product Origination and Distribution group for VTB Capital plc. In both these roles, Makram will be responsible for the development and implementation of VTB Capital’s International Client Franchise strategy internationally and in MENA, where VTB Capital’s goal is to be one of the leading investment banks in the market. Makram has almost 20 years experience working in senior roles in investment banking, covering both the Middle East and Emerging Markets. Prior to joining the VTB Capital team, Makram Abboud was Head of Emerging Markets at Nomura Holdings Inc.’s emerging markets team across sales and origination. Before that, Makram both developed and led the emerging market and Middle East capital market sales franchise first at UBS and then at Merrill Lynch, where he delivered exceptional growth to their respective franchises. Makram Abboud graduated from the McGill University School of Management, Montreal. He is also a Certified Public Accountant accredited by the American Institute of Certified Public Accountants (AICPA), Virginia, USA.

Philip Hamilton has been appointed Head of VTB Capital’s Global Fixed Income Flow Sales Group. The Group was formed following the strategic realignment and enhancement of VTB Capital’s Global Markets Sales & Origination structure.

Philip will be responsible for managing and growing VTB Capital Fixed Income flow distribution franchise with Russian and international clients.

Over the last 20 years Philip has had several senior Emerging Markets roles. Prior to joining VTB Capital, Phillip was the Head of EM Product Sales at Goldman Sachs for the CEEMEA region. Before that he was the Head of EM Sales at Merrill Lynch and Dresdner Kleinwort. He also headed trading and sales for ING Barings in London and Asia.

Philip Hamilton will be based in London and will report to Vitaly Bouzoveria, Global Head of Fixed Income.

 Vitaly Bouzoveria, Head of Fixed Income Sales & Trading at VTB Capital, said: “Philip has an extensive experience working for key global financial institutions, with a key focus on Emerging Markets. This appointment will help us to extend our client base and further develop our leadership on global markets”.

Troika Dialog today announces the appointment of Maxim Safonov as Head of Fixed Income, Currencies and Commodities Division. Maxim will join Troika Dialog on January 10, 2012 and reports to Rob Leith, Global Head of Investment Banking and Global Markets.

Maxim brings over fifteen years of experience in investment banking, specialising in Russian capital markets, based in both Moscow and London. Prior to joining Troika Dialog, he was a Portfolio Manager at Finisterre Capital, Emerging Markets specialised hedge-fund, where he was responsible for FX and rates strategies. Prior to that Maxim led HSBC’s efforts to re-establish its presence in Russian financial markets, joining the bank in 2004 as Head of Markets in Moscow, then later moved to London as Regional Head of Trading for CIS where he created one of the strongest regional trading franchises.

He began his career as a fixed income trader at ING Bank in Moscow before rising to Head of Financial Markets and Deputy Chairman of the Board, where he had overall responsibility for the financial markets business in Russia.

Troika Dialog announced the appointment of Ovanes Oganisian as Strategist. In his new position, Ovanes will work closely with Chief Strategist Chris Weafer to provide insightful analysis for Troika Dialog’s client base on what promises to be another fascinating period for Russian and CIS equities.

Ovanes comes to Troika Dialog with over 15 years of financial market experience, most recently completing a decade at Renaissance Capital as an equity strategist. Prior to that he was involved in a number of successful start-up businesses in the financial and technology fields, having originally started his career as an equity analyst for both international and domestic houses.

At Renaissance Capital, Ovanes was responsible for building the domestic client franchise and its quantitative models, and this will also be one of his key responsibilities at Troika Dialog. Throughout his time at Renaissance, his team regularly traded places with Troika Dialog’s own strategists for the top slots in the benchmark Extel and Institutional Investor surveys.

Damian Chunilal, Chief Executive Officer, VTB Capital Asian unit

 Damian Chunilal has been appointed as CEO Asia for VTB Capital and will be based in Hong Kong and oversee the strategic development and further acceleration of the company’s expansion in financial markets across Asia.

Mr. Chunilal will report to Atanas Bostandjiev, CEO, UK and International for VTB Capital.

Damian Chunilal has more than 20 years industry experience, including over 19 years in senior roles at Merrill Lynch, both in Hong Kong and London. Prior to joining the VTB Capital team, Damian was a member of Merrill Lynch's Global Operating Committee and a Managing Partner. The business was focused on M&A, capital raising and corporate finance activities with corporate, sovereign and financial institution clients in Japan, Australia, India and Asia. Damian Chunilal graduated from the University of Cambridge, U.K. He holds a master’s degree in Economics.

VTB Capital officially launched its Hong Kong office on 15 November 2011. In June 2011, the Hong Kong Securities and Futures Commission issued VTB Capital Hong Kong Limited with a license to execute investment banking services. This license permits VTB Capital Hong Kong Limited to undertake dealing and advising on securities activities.

By Andrei Skvarsky.

Wermuth Asset Management, a German fund manager chiefly operating from Moscow, has parted company with its chief executive Maarten van den Belt, three months after another top figure in the relatively small company quit the firm.

Van den Belt, whom Wermuth hired as its CEO in July 2010, has been replaced by Michael Ludwig, who has been a principal in the company since its inception, according to a statement from the firm, which manages funds and advises on alternative investments in Eastern Europe, primarily Russia.

In summer this year John Winsell Davies, a top partner, left for a role with

By Andrei Skvarsky.

Sberbank, Russia’s biggest lender, plans to sack 30,000 employees or 12.5% of its personnel, thereby following other banks in Russia and worldwide in cutting jobs as the euro debt crisis deepens.

Sberbank chief executive German Gref told Prime Minister Vladimir Putin that the reason why the firm would slash its numbers to 210,000 from 240,000 was increasing computerisation.

Gref broke the news about the redundancy plan in hosting Putin at one of Sberbank’s offices. The premier attended the opening ceremony for a data processing unit into which Sberbank had put about $1.2bn.

Earlier, staff cuts were announced by VTB, Renaissance Group, Otkritie and Merrill Lynch.

By Andrei Skvarsky.

Former top bankers at Switzerland’s UBS and Russia’s VTB have been hired as directors by Alisher Usmanov’s Metalloinvest group, one of the world’s biggest iron ore producers.

Ken Costa, who had been a deputy chairman at UBS and a top figure in New York-based financial advisory and asset management firm Lazard International, and Vadim Levin, an ex-deputy chief executive of VTB, were given seats on Metalloinvest’s newly elected board, Usmanov’s company said in a statement.

By Andrei Skvarsky.

Troika Dialog has tapped  Alexander Krapivko from Renaissance Capital as asset allocation advisor for its private clients department as the brokerage merges with Russia’s biggest lender, Sberbank.

Krapivko worked at Alfa Capital before joining RenCap, where he was senior portfolio manager for equity products. He also has New York-based jobs with Bank of America Merrill Lynch and Lehman Brothers on his record.

Krapivko will report to Igor Sagiryan, head of Troika’s private clients division, Troika said in a statement.

Sberbank, which is trying to move into investment banking, is due to complete its acquisition of Troika by February 2012.