PARIS, April 14 BNP Paribas has
appointed Andre Boulanger as its new Russia country chief, the
French bank said on Friday.
Boulanger, former EMEA chief operating officer, replaces
Vincenzo Calla who has moved on to head BNP's operations in
"This appointment reflects our desire to maintain a strong
position in Russia and CIS," Marc Carlos, head of the bank's
supervisory board in the country, said in a statement.
BNP has corporate and institutional banking, fleet
management, insurance and personal finance operations in Russia.
Investment banking deal volumes in Russia rose almost 50
percent in 2016, with domestic advisers leading the charge, but
continued sanctions and the economic contraction mean foreign
banks still suffer.
The business pipeline is promising for investment bankers
this year, with the planned privatisation of the state shipping
company Sovcomflot and the rumoured IPO of En+ Group, a holding
company for Russian tycoon Oleg Deripaska's asset.
Boulanger has worked previously as BNP Paribas head in
Belgium and the Netherlands.
(Reporting by Maya Nikolaeva)