Rosneft hires Morgan Stanley veterans as Sechin advisers
MOSCOW Nov 12 (Reuters) - Rosneft has appointed a team of Morgan Stanley veterans led by former co-president Walid Chammah as advisers to Rosneft President Igor Sechin, the Russian national oil company said on Monday.
Two top executives from Morgan Stanley's Moscow office, Rair Simonyan and Elena Titova, have also been appointed to advise Sechin, who is carrying out a series of international exploration deals and a $55 billion takeover of BP's Russian joint venture, TNK-BP.
Titova will also become president of a Rosneft-owned bank, the Russian Regional Development Bank, and Chammah and Simonyan will join its board, the statement said.
Chammah and Simonyan told Reuters in separate embargoed interviews that the advisers would develop an energy trading platform as part of a mandate to create a new financial institution out of Rosneft's scattered financial assets.
"Clearly tighter regulation (of derivatives trade) is an opportunity for a new entrant into the trading business," Chammah said.
- Tweet this
- Share this
- Digg this
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
- L&T Q1 revenue $3.2 billion, beats analyst estimates
- "Lucy" box office bonanza lifts Besson fortune by $5 mln
- Australia approves Adani's $16 bln Carmichael coal project
- UPDATE 5-Hague court orders Russia to pay over $50 bln in Yukos case
Indian conglomerate Larsen & Toubro said on Monday revenue totalled 191.23 billion Indian rupees ($3.2 billion) in the first quarter, beating analyst forecasts, after a rise in orders from international clients. Full Article