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Financial News online updated its FN100 rating, adding the information on Yuri Soloviev’s new appointment and VTB Capital’s achievements

28 June 2011
FN100: Where are they now? Yuri Soloviev


Sebastian Walsh (Financial News online)

Soloviev made his FN100 debut in 2008, when he was poached from Deutsche Bank to spearhead local Russian operator VTB’s move into investment banking. His deal-making talents have helped the firm become the leading investment bank in the region.

The task put before Soloviev, who had been one of the most prominent dealmakers in Deutsche’s successful Moscow operation, was to make the newly established VTB Capital a top three player in Russia and the Commonwealth of Independent states by 2011.

Infact, by the time he moved upstairs in May – he now acts as first deputy vice-chairman of the parent VTB Bank – the firm had solidified its position as the number one investment bank in the region, according to Dealogic.

In 2010, according to the data provider, VTB Capital brought in $93m in investment banking revenues in the CIS region – 9.5% of the total. 

So far this year, it has brought in $105m – a 15% share of the market. Its closest competitor, Morgan Stanley, stands at $81m.

Soloviev has not, however, had to rely solely on his deal-making talents.

Vladimir Putin, the Russian prime minister, put his weight behind the firm from its launch – and business from state-run companies played a substantial role in VTB Capital’s rapid rise.

In September 2009, Putin underlined this association when he addressed its inaugural investor conference in Moscow – his first appearance at any brokerage event.

As Soloviev told Financial News ahead of that conference, “[The prime minister’s] perspective is an important component to any discussion of the Russian economy”.

Together with Andrei Kostin, chief executive of the parent bank, Soloviev has also masterminded a major expansion outside the CIS region since he first appeared in the FN100.

Aside from London, its principal international operation, VTB Capital now has offices in Dubai, Singapore, Vienna, Paris and Frankfurt – and plans are in place for New York and Hong Kong to follow suit by the end of the year.

While Soloviev has now moved on from the day-to-day running of VTB Capital – the appointment of Alexei Yakovitsky as his successor as chief executive was made earlier this month – in his new role Soloviev remains responsible for overseeing the investment business on behalf of the parent company.

VTB Capital

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