Oleg Vyugin, a former head of Russia’s markets watchdog, will join Morgan Stanley in Moscow as a senior adviser.
Morgan Stanley hired Vyugin as the bank expands in Russia, Franck Petitgas, global co-head of investment banking at Morgan Stanley, said today in an e-mailed statement.
Vyugin said today by phone that he will continue to serve as board chairman at MDM Bank, a position he has held since 2007. His contract at the Moscow-based lender allows him to work for Morgan Stanley, said Vyugin, who was a central bank first deputy chairman in 2002 to 2004.
Morgan Stanley is seeking to bolster its operations in Russia after losing about 12 employees, including two senior bankers, to state-run OAO Rosneft last year as Russia’s largest oil producer develops its own bank. Morgan Stanley was the top adviser on mergers and acquisitions in Russia in 2010 and 2011, before slumping to seventh last year, according to data compiled by Bloomberg.