The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Recruitment: Bankers swarm to Russian IPO honey pot

Russian firms seek investor-friendly foreign talent; investor-friendly foreign talent seek large bonuses.

Bankers bored by their jobs in the traditional financial centres will begin to defect in greater numbers to Russian companies, according to head-hunters working there. “Experienced professionals from big western banks are increasingly being lured by the promise of a share in the piles of roubles waiting to be made from Russian IPOs, as well as the chance to recapture the sense of adventure that comes with being present as an emerging market gathers momentum,” says Taru Oksman-Ison of the head-hunting company Principal Search.

Demand for experienced foreign bankers has soared in Russia. Many firms there are preparing initial public offerings, and they seek staff with sector knowledge and a reputation that will increase their credibility with investors. Russia’s state-owned oil company Rosneft, for example, hired former Morgan Stanley vice-president Peter O’Brien in March as it prepares for an offering later this year. The 36-year-old assumed the role of CFO in preparation for an expected July offering that Russian officials hope will raise close to $10 billion.

“If the noises I am hearing from clients are any indication,” Oksman-Ison says, “we can expect more of this kind of hire.” There are certainly other signs of a developing trend: at around the same time as O’Brien’s move, Alan Vine left his post as head of Merrill Lynch’s Moscow office to become chairman of the board at Russia’s Nafta Moskva group.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree