Deutsche Bank Said to Name Ex-Russia Head to East European RoleJason Corcoran
Deutsche Bank AG appointed its former head for Russia, Igor Lojevsky, as vice chairman in Eastern Europe, according to two people familiar with the matter.
Lojevsky will move to London in April to take up the newly-created position, said the people, who asked not to be identified before an official announcement.
The banker said in December 2011 that he planned to step down as country chief in order to work for Deutsche Bank in London or New York. He was replaced in September last year by Pavel Teplukhin, who previously worked at Troika Dialog, the Moscow-based investment bank that was acquired by state-run OAO Sberbank at the start of 2012.
A Deutsche Bank press official in Moscow declined to comment, asking not to be identified because of company policy. Lojevsky’s mobile phone was turned off when Bloomberg called, and he didn’t immediately respond to an e-mailed request for comment.
Deutsche Bank is facing increasing pressure in Russia as government-controlled lenders develop their investment banking units, dropping from the top position in combined Russian equity and debt sales in 2007 to eighth in 2012, according to data compiled by Bloomberg. State-run VTB Capital, which ranked first last year, hired more than 100 of Deutsche Bank Moscow-based employees in 2008.
Lojevsky had worked at Deutsche Bank in fixed income starting from 2005 and moved to Dresdner Bank AG in 2007. He rejoined as Deutsche Bank’s Russia head in May 2008, replacing Charles Ryan, a co-founder of UFG, the local investment bank that the German lender had acquired.