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Troika Dialog Hires Bankers From Citigroup, RenCap, Arma

Troika Dialog, the brokerage arm of Russian state-run lender OAO Sberbank, said it hired bankers from Citigroup Inc., Renaissance Capital and Arma Partners in a bid to challenge bigger rival VTB Capital.

Troika Dialog, based in Moscow, hired Steve Kale, David Theys and Dmitry Zubatyuk, the company said in a statement today. Kale, who previously led Citigroup’s equity capital markets origination team for Russia, joins as head of equity syndicate group. Theys, who worked at London-based corporate finance firm Arma Partners, joins as head of telecommunications, media and technology sector. Zubatyuk, formerly at RenCap, joins as a director for the oil and gas sector, according to the firm.

Sberbank Chief Executive Officer German Gref, a former economy minister, is seeking to turn what was once the Soviet Union’s savings bank into a full-service financial firm that can compete at home and abroad in areas from bond underwriting to stock trading. Troika Dialog plans to increase its staff of about 100 bankers by about 40 percent this year, Todd Berman, head of investment banking, said in a Nov. 29 interview.

Troika last month hired Erwin Parviz as deputy head of structured products and Dmitry Sredin, formerly chairman of Renaissance Advisors, as a senior banker for its corporate investment unit.

VTB Capital, created from scratch three years ago by VTB Group, Russia’s second-largest bank, was the biggest organizer of Russian debt sales last year, according to data compiled by Bloomberg. Troika was third and Sberbank ranked fourth.

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