Ex-Morgan Stanley bankers quit new jobs after 8 months

Exit Sign

Three former employees of Morgan Stanley left OAO Rosneft after eight months at the firm as Russia’s largest oil company switched its bank’s strategy to focus on corporate and consumer banking.

Bloomberg News reports that Rair Simonyan and Elena Titova, Morgan Stanley’s two top bankers in Moscow, and Walid Chammah, a former head of its international unit, have departed from the Russian Regional Development Bank, Rosneft said in an e-mailed statement Friday.

Igor Sechin, an ally of President Vladimir Putin who runs Rosneft, hired the trio and Igor Kan, former head of Russian equities at Citigroup in Moscow, to help hedge the company’s oil risk. Simonyan, Titova and Chammah joined from Morgan Stanley in November along with 10 of the U.S. bank’s support staff.

Sechin didn’t respond to requests for more information on Rosneft’s banking plans. Chammah declined to comment by phone.

In the meantime, Morgan Stanley's global head of commodities marketing, Boris Shrayer, has left the bank, a source familiar with the matter told Reuters on Friday.

Shrayer could not immediately be reached for comment at the bank's New York office and a spokesman for Morgan Stanley had no comment.

The news was first reported on industry website SparkSpread.com.

Grant Brady, head of Americas corporate marketing, will take over some of Shrayer's responsibilities.

Ex-Morgan Stanley Bankers Quit Rosneft After Eight Months

Morgan Stanley commodities marketing head departs

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts