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Bank of America Names Investment Banking Co-Heads for Russia

Oct. 12 (Bloomberg) -- Bank of America Corp., the second-biggest U.S. lender, named Aukse Jurkute and Roman Zilber co-heads of corporate and investment banking for Russia and the Commonwealth of Independent States.

Jurkute was previously head of equity capital markets for Central and Eastern Europe, the Middle East and Africa, while Zilber joined in 2010 as head of corporate banking for Russia and the CIS from Credit Agricole SA, the Charlotte, North Carolina-based company said in a statement today. Andrei Arofikin, who re-joined as managing director of investment banking in Moscow five years ago, will leave, the firm said.

The bank is reorganizing its senior managers in Russia after two departures in the past 18 months. Riccardo Orcel, head of investment banking for central and eastern Europe, the Middle East and Africa, departed last year to join VTB Group, Russia’s second-biggest lender. Country head Konstantin Korishchenko said in August he would step down.

Bank of America, which hasn’t advised on a single share sale in Russia this year, advised on one share sale last year, a $3.3 billion offering by VTB. That made it the third-ranked adviser on Russian stock offerings that year, according to data compiled by Bloomberg. The bank is placed third in Russian mergers and acquisitions so far this year, up from 38th in 2011, the data show.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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