- Teplukhin creates firm with former colleagues from Troika
- Russian assets have rallied this year amid oil recovery
The former chief of Deutsche Bank AG’s Russian operations, Pavel Teplukhin, started a financial boutique called Matrix Advisors with former colleagues from Troika Dialog, according to people with knowledge of the matter.
Teplukhin created the firm with five partners, including Timur Nasardinov, Kirill Gromov, Evgeny Gavrilenkov and Ivan Ivanchenko, according to a person familiar with the plan, who asked not to be named because the information hasn’t been made public. The company will focus on Russia and emerging markets and will offer asset management and other financial services, according to the person. Two other people disclosed the name of the new firm.
A spokesman for Teplukhin confirmed that the financier is creating a new company with a group of partners and its founding will be announced next week. He declined to provide further details.
Teplukhin left Deutsche Bank’s Moscow office in August. The German lender is reducing its presence in Russia as regulators in London and New York investigate suspicious trades that moved as much as $10 billion out of the country between 2012 and 2014. Investment banking fees slumped to a 13-year low in Russia last year as sanctions over the Kremlin’s role in the Ukraine conflict and low oil prices curbed business.
Teplukhin worked at Troika Dialog, Russia’s oldest brokerage now known as Sberbank CIB, until 2010, when he left his roles as a managing director and head of the group’s asset-management unit. Nasardinov, Gavrilenkov and Gromov left Sberbank CIB and Ivanchenko left VTB Capital this year.
Gavrilenkov was until June the chief economist at Sberbank CIB in Moscow, while Nasardinov was deputy head of global markets, and Gromov was the head of Russian equity sales. Ivanchenko was the head of principal trading at VTB Capital.
Emerging markets, including Russian assets, have rallied this year on bets that the U.S. Federal Reserve will delay raising interest rates, increasing appetite for higher-yielding assets. Russian stocks reached all-time highs this week and the rally in bonds has sent five-year yields lower for eight straight days.