Deutsche Bank’s Monakhov Said to Run Russia Equities Temporarily

Deutsche Bank AG’s Evgeny Monakhov is overseeing Russian equities while Tim Wiswell, who runs the unit, is on temporary leave, according to two people with knowledge of the matter.

Wiswell, who has been with the bank in Moscow since 2003, was suspended along with other colleagues amid an internal inquiry over a trading matter, said one person, who asked not to be named because the information is private.

Monakhov, who joined the lender in 2010 after 13 years with Credit Suisse Group AG, declined to comment by e-mail. Wiswell declined to comment when reached by phone. The bank on April 10 said it suspended “a small number of individuals” in its Moscow equities trading operation, pending the results of an internal review.

Deutsche Bank, which has one of the largest foreign investment banks in Russia, ranked 11th among traders of stocks when measured by turnover on the Moscow Exchange in March, down from ninth for the previous month. It became the leading investment bank in Russia in 2006 after taking full control of Moscow brokerage United Financial Group. State-run VTB Group hired more than 100 of Deutsche Bank staff for its own investment banking start-up two years later, becoming the largest securities firm.

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