VTB Group, the investment arm of Russian state-backed bank VTB Group,has appointed former Goldman Sachs partner Atanas Bostandjiev as chief executive of its investment banking division.
His appointment comes a week after another former Goldman banker, Kirill Dmitriev, was made head of Russia's state-backed private equity fund.
Bostandjiev will be based in London and replaces Herbert Moos, who was promoted to chief financial officer of VTB Bank Europe in 2009. The position had lain vacant until this appointment. Bostandjiev will report to Yuri Soloviev, president of VTB Capital.
VTB sold a stake in itself to US buyout firm TPG Capital for $100 million in February. VTB Capital’s private equity unit is planning to ramp up its activity this year, according to reports.
Soloviev said: “We are glad that Atanas, one of the most experienced European market professionals, has joined the VTB Capital team. I am certain that his appointment will strengthen our team and further boost VTB Capital’s positions in the international investment banking market”.
At Goldman, Bostandjiev was responsible for the bank’s emerging markets client business in Central and Eastern Europe, the Middle East, and Africa. Before joining Goldman, he worked for Merrill Lynch in London.
Bostandjiev will oversee VTB Capital’s development and strategy in Europe, Asia, the Middle East, North Africa, and Americas. The bank said this would involve the introduction of new products and initiatives to ensure sustainable growth of VTB Capital’s market share.