An economist for HSBC in Moscow became the latest to join a Russian state institution as profits in the financial industry suffer from the country’s first recession since 2009.
Bloomberg News reports that Alexander Morozov, who was HSBC’s chief economist for Russia and the Commonwealth of Independent States since 2005, has been appointed head of the central bank’s research and forecasting department, according to a statement on the regulator’s website Wednesday.
He follows Alexander Gromov, who left BCS Financial Group in August for the central bank. Vladimir Kolychev joined the Finance Ministry in May from VTB Capital, the investment banking arm of the lender.
In the meantime, the New York Times reports that one of JPMorgan Chase’s two co-heads of North American mergers is leaving the firm to join a longtime client, only months after being promoted to the position.
Henry Gosebruch is departing to become the chief strategy officer of the pharmaceutical company AbbVie, the bank announced in an internal memorandum on Wednesday.