VTB Capital’s chief banking analyst, Mikhail Shlemov, plans to join UBS AG (UBSN) in Moscow, according to two people with knowledge of his move.
Shlemov was part of a team of more than 100 bankers who left Deutsche Bank AG in 2008 to join the new investment arm of VTB Group, Russia’s second-largest lender.
VTB Group Chairman Andrey Kostin created the division with a pledge to spend $500 million building it after a bid to buy Moscow-based investment bank Renaissance Capital failed in 2007. Within two years, the unit of the state-controlled lender became the biggest organizer of Russian equity sales.
Dominik Von Arx, a UBS spokesman in London, declined by e-mail to comment. Shlemov declined to comment when reached by phone, as did a VTB Capital spokeswoman, who asked to not be identified in line with company policy.
Shlemov will be joining Ivan Tchebeskov, a VTB Capital alumnus who left for a job as equity sales executive director at UBS this year. VTB Capital’s head of equity trading Oleg Achkasov, who like Shlemov moved from Deutsche Bank, left in July.
VTB competes with OAO Sberbank, which acquired Troika Dialog in 2012, Russia’s oldest brokerage. Sberbank CIB, as the investment banking unit is now called, hired a fixed-income team from VTB Capital last year.
Sberbank CIB hired Nick Harwood, UBS’s head of equities for Russia and the Commonwealth of Independent States, two people with knowledge of his move said earlier this week.
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