PARIS, April 14 (Reuters) - 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 Qatar.
“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)