Deutsche Bank AG is expanding its emerging market research team based in Dubai, relocating three equity analysts from its Moscow office.
Igor Semenov will cover Russian and Eastern European technology, telecoms and media; George Buzhenitsa will handle Russian metals and mining, while Pavel Kushnir will cover Russia/Kazakhstan oil and gas from the Frankfurt-based lender’s Middle Eastern offices in Dubai International Financial Centre, it said in an e-mailed statement Tuesday.
Deutsche Bank now has nine analysts based in Dubai covering 12 sectors in nine emerging markets. Last week, the bank said Rafik Nayed was taking over as chief country officer for the United Arab Emirates, replacing Nadeem Masud who left to join a boutique firm.
Several foreign companies including Royal Bank of Scotland Group Plc, Deutsche Bank and BNP Paribas SA have retreated from Russia amid the country’s first recession since 2009.