Otkritie Expands Investment Banking Team

Moscow: Otkritie Capital (Otkritie), the investment banking arm of Otkritie Financial Corporation – one of the largest financial groups in Russia, has appointed Pavel Dubovets as its Sales Director for the derivatives team. He will be based at the firm’s Moscow headquarters and report directly to the Group’s CEO Igor Vayn.         

Pavel starts at Otkritie today and he will be responsible for the firm’s equity and derivatives sales teams.

Pavel brings almost two decades of experience to his new role. He joins from Troika Dialog where he spent 11 years working in equity sales. His distinguished career also includes six years as portfolio manager for a Non-Government Pension Fund of the Electric Power Industry.

Previously, Pavel worked for Surgutneftegaz, a leading Russian oil and gas company. He graduated from the Gubkin Academy in 1993 with a degree in mining engineering having specialised in the development of oil and gas fields.

Georgy Mirel, Managing Director and Head of Derivatives at Otkritie Capital, commented:

“As part of our continued expansion, we welcome the addition to our team of such an experienced and highly-skilled professional. At a time of increasing investor demand for derivatives products, we continue to improve our offering with a team that has extensive knowledge across this asset class and emerging markets, especially Russia.

I am positive that Pavel will make great progress in expanding Otkritie’s client base and providing existing clients with exceptional service”.

Notes to Editors:

About Otkritie Capital

Otkritie Capital is the investment banking arm of Otkritie Financial Corporation (OFC), which was established in 1995.

From offices in New York, London, Frankfurt, Cyprus and Moscow (with the addition of an Asian office planned in 2012), the company offers institutional investors, corporate clients and private investors a full range of services on the global and Russian markets, including equity and debt securities, DMA trading, M&A advice and financing, as well as structured products and derivatives.

Otkritie Capital is ranked top in terms of trading turnover on the LSE International Order Book and is listed among the top twenty brokers on the LSE with a total market share of 2%. Furthermore, the firm has the highest trading volume and the largest market share on RTS FORTS, RTS Standard and MICEX.

Most recently, the Otkritie Capital has risen nine places to eighth position in the Thomson Reuters Extel results, which focuses on excellence in investment banking and asset management as voted by institutional investors across Europe.

The firm’s trade turnover amounted to $112.1bn in 2010, while client assets exceeded $2.7bn as of YE10. The net income of the companies comprising Otkritie Capital exceeded $100mn.

In the UK, the business operates under the legality entity Otkritie Securities Limited and is regulated by the Financial Services Authority. In the US, the business operates under Otkritie Inc. and is regulated by the Securities and Exchange Commission. For more information, please visit www.otkritie.com.

Press Contact

Simren Priestley

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