Russia Corporate Scandals ‘Striking,’ Prosperity CEO Says

Russian minority investors are enduring the worst year for corporate governance scandals since 2009, according to Mattias Westman, chief executive officer of Prosperity Capital Management.

“There have been structural improvements, but the specific corporate governance scandals this year have been striking,” Westman, whose firm manages about $4 billion and is the world’s largest Russia-focused money manager, said today by phone from London. “It’s the worst year since after the crisis in 2009.”