The Russian division of American investment Bank Goldman Sachs is changing the leadership: your posts leave the co-Directors Paolo Zannoni and Nick Jordan. Co-Directors of the Bank will become co-heads of investment banking in the region Sergei Arsenyev and Dmitri Sedov, and Tim Talkington, who heads the division of securities, said in the internal documents of the Bank (at the disposal).
Paolo Zannoni has served as the head of Goldman Sachs in Russia since 2012. After leaving the Moscow office, he will continue to work as Chairman of the investment banking division of Goldman Sachs in Italy. Nick Jordan joined Goldman Sachs in early 2013 from the office of UBS in Russia and CIS. Prior to that, he worked as head of investment banking for Russia, Central and Eastern Europe Bank Lehman Brothers went bankrupt in 2008.
In addition to the three new leaders at the Bank established a working group, which in addition to the three co-leaders have included co-chair of the group of global natural resources, which is part of investment banking, Brett Olsher and head of special situations on the territory of Russia and CIS Maxim Klimov. The objectives of this group include the development of business in Russia, its Chairman appointed Olsher.
Goldman Sachs in recent years has been one of the most successful investment banks in Russia, largely due to the fact that he had a very professional guide with good knowledge of the market, says the President of the American chamber of Commerce in Russia Alex rodzjanko. In early 2013 the Ministry of economic development and the Russian direct investment FUND has chosen Goldman Sachs as the sole partner for the implementation of projects on improvement of investment image of Russia in the international arena. The Bank had to maintain contacts with international rating agencies, to organize presentations, road shows and meetings between Russian officials with representatives of foreign investors, helping to implement the government’s objectives to increase Russia’s sovereign rating to the level A.
Rodzianko suggested that Zannoni, and Jordan decided to leave the posts because of the sanctions, in fact blocked the activity of investment banks in Russia. “Most likely, the fact that such professionals are not interested to sit and wait for the sea weather, it is unclear when Russian markets up here now work for the investment bankers almost there,” he said.
A source close to Goldman Sachs, says that it is not — the leadership change is a regular event. “Specifically, this shift was planned,” says the source.
In November last year Klimov was appointed as the sole Russian partner of Goldman Sachs. The group with which he worked, was responsible for the purchase of shares in Russian companies, including Mail.Ru Group and “Tinkoff Credit Systems”. Later she was provided the sale of shares and bonds for companies.