Team

IFC METROPOL’s equity research team offers clients a broad range of cutting edge research products characterized by strong fundamental analysis and exceptional insight. We provide actionable ideas and stock recommendations based on deep analysis of company specific details combined with the current economic and industry conditions that impact stock value. Our analysts are noted for their objectivity, and in 2009 were quoted extensively in the business and financial media in Russia, CIS, Europe, the USA and the UAE – both by international news agencies such as Bloomberg and Reuters as well as in the Wall Street Journal, the Financial Times, and a wide variety of other prestigious newspapers and periodicals. With an impressive track record of accuracy in forecasting and successful stock picks, the team offers investors the insight and information they need to make informed and profitable investment decisions.

Since 2005, METROPOL has focused on reinforcing its research effort with some of the most experienced professionals in the industry. Our analysts are professionals who have graduated from some of the world’s most respected schools, such as New York City University, London Business School, California State University, Vanderbilt University, London Metropolitan University, and Moscow’s Lomonosov State University and hold professional qualifications such as the Chartered Financial Analyst (CFA) designation. Moreover, our analysts have previous experience in some of the world’s leading firms including KPMG, PWC, and Morgan Stanley. Since 2007, our analysts have been recognized in the rankings of notable institutions including Institutional Investor, Invest Guru and RosBusinessConsulting.

	Mark Rubinstein Head of Research, Senior Analyst +7 (495) 223 08 86	Mark Rubinstein studied at the Russian Economical Academy in Moscow. He then later graduated with a Bachelor of Business Administration from New York City University. He also holds an MBA in Finance from Zicklin School of Business at Baruch College in New York. In addition Mark received Certificate in International Business and Finance from the NYU Stern School of Business. Rubinstein began his career in 1995 as a financial analyst in New York. He then worked for Salomon Smith Barney Inc. as Assistant Vice President in the Global Fixed Income Credit Research Unit, and for the New School University in New York as a Director of Capital and Facilities Budget. Rubinstein joined IFC METROPOL in 2006. In both 2008 and 2009, Mark was a top-15 ranked analyst in the Institutional Investor All Russia Analyst Survey in the Financial Services category.
Automotive, Infrastructure, Real Estate, Transportation, Engineering & Machinery
	Andrey Rozhkov Senior Analyst +7 (495) 933 33 16 ext. 1420	Andrei Rozhkov graduated from the State University – Higher School of Economics, Moscow, with a Master of Economics degree. Rozhkov also has a Ph.D. in Economics, and has worked in the equity markets since 2000. Prior to joining IFC METROPOL, he worked for CentreInvest Securities, Kapital Investment Group and Zerich Capital Management.
	Alexander Marinov Analyst +7 (495) 933 33 16 ext. 1427	Graduated from the Mechanics and Mathematics Department of Moscow State University with the specialty Mathematics. Has works in the stock market since 2005. Before joining IFC METROPOL was engaged in asset management in the stock market and analysis in the field of M&A.
	Anna Dolaychuk Junior Analyst +7 (495) 933 33 16 ext. 1374	Graduated from Moscow State University of Environmental Engineering (MSUEE), department of economics, and has a higher education in the specialty Investment Management. Before joining IFC METROPOL Anna worked for ALOR Group of Companies as an analyst of current market situation.
Banking, Economics, Strategy
	Marina Karapetyan Junior Analyst +7 (495) 933 33 16 ext. 1418	Marina Karapetyan graduated from the Plekhanov Russian Economic Academy. She received a Bachelor of Economics and later got a Master Degree in “International Economics (Finance)”. She also studied in Germany, received a diploma of a specialist in Business Administration at University of Applied Sciences Wurzburg (Fachhochschule Wuerzburg-Schweinfurt). Prior to joining IFC “METROPOL”, she trained at Deutsche Bank and JP Morgan in the research departments.
Chemicals, Metals & Mining
	Sergey Filchenkov Analyst +7 (495) 933 33 16 ext. 1422	Sergey graduated from Moscow Aviation Institute with a degree in Information System Security and Financial Management. In 2010 received a Ph.D. in Economics. Has been working in the equity markets since 2006. Before joining METROPOL worked for FINAM Group as an analyst, covering “Metals and Mining” and “Infrastructure Construction” sectors.
	Anna Antonova Junior Analyst +7 (495) 933 33 16 ext. 1425	Anna gradated from State University – Higher School of Economics with bachelor degree in Economics and also holds a bachelor degree in Banking and Finance from University of London. Anna obtained a Master’s in Financial Economics (MFE) from University of Oxford Said Business School. Before joining IFC “METROPOL” Anna worked as an investment strategies analyst in Private Banking division of Uniastrum Bank (member of Bank of Cyprus Group) and also had an internship in the M&A division of UBS Investment Bank.
	Mikhail Smirnov Junior Analyst +7 (495) 933 33 16 ext. 1448	Mikhail graduated from Higher School of Economics with a Bachelor of Economics degree. At the moment he is getting Investment Valuation and Corporate Finance Master Degree at Finance University under the Government of the Russian Federation. Before joining IFC METROPOL Mikhail worked as a consultant in ISG Consulting.
Consumer Goods
	Tatiana Bobrovskaya Senior Analyst +7 (495) 933 33 16 ext. 1414	Tatiana graduated from Novosibirsk State University with a degree in Mathematics and Economics. In 2005 she joined BCS as an Analyst covering consumer and real estate companies. In 2006 she taught training sessions on Federal Financial Market Service exams organized by the Siberian Stock Exchange. She was on the top-10 list of Consumer sector analysts in Russia in 2006 and 2007, according to RBC.
	Tatiana Elizarova Junior Analyst +7 (495) 933 33 16 ext. 1416	Tatiana graduated from State University Higher School of Economics, received a bachelor’s degree in Economics. At the moment she is getting a master degree at Finance University under the government of the Russian Federation, with a major International finance. Before joining IFC METROPOL Tatiana worked as an analyst for credit risks of corporate clients in Sviaz bank and also had an internship in credit department of Raiffeisen bank.
Fixed Income and Derivatives
	Peter Kadish Head of FI Research +7 (495) 223 08 84	Holds a Master’s degree from Sheffield University (UK) in Money Banking and Finance. Prior to joining IFC METROPOL, Mr. Kadish worked as a market strategist with Norvik Alternative Investments (Latvia), headed Norvik Bank’s asset management division (Latvia), and was a member of the board at Norvik IPS, a mutual fund and pension plan management company. Mr. Kadish is a CFA charterholder.
	Vadim Palamarchuk Analyst +7 (495) 933 33 16 ext. 1430	Vadim earned Finance and Stock Markets Bachelor and Master degrees in Higher School of Economics Before joining Metropol Vadim worked as an equity research utilities analyst at Otkritie Capital. Was ranked as utilities analyst #15 according to Thomson Extel Survey 2011.
	Artur Kopyshev Junior Analyst +7 (495) 933 33 16 ext. 1438	Artur Kopyshev graduated from Finance University under the Government of Russia. He has a master’s degree in “Finance and credit”, with specialization in “Financial markets and financial engineering”
Oil & Gas
	Sergey Vakhrameev Senior Analyst +7 (495) 933 33 16 ext. 1433	Graduated from Belgorod State University of Technology. Holds a degree of Ph.D of Economics. Before joining IFC METROPOL worked as an oil and gas analyst for the Bank of Moscow and in the business appraisal department of FBK (Financial and Accounting Consultants).
	Natalia Poskrebysheva Junior Analyst +7 (495) 933 33 16 ext. 1372	Graduated from Moscow State Institute of International Relations, “MGIMO”. Has a bachelor’s and a master’s degree in” International Economic Relations”. Prior to IFC Metropol worked in the companies «Deloitte», and «Roland Berger Strategy Consultants».
Utilities
	Konstantin Reyli Senior Analyst +7 (495) 933 33 16 ext.1446	Received a Bachelor’s degree at Moscow State University, Department of Economics, speciality Economics, and a Master’s degree - at Higher School of Business at Moscow State University, speciality Financial Management. Before joining IFC METROPOL Konstantin worked as a power engineering analyst for the Russian-German Power Engineering Agency and for the Finam investment company. Before that worked as a credit analyst for the Russki Standart Bank.
	Svetlana Semenova Junior Analyst +7 (495) 933-33-16 ext.1436	She graduated from State University – Higher School of Economics in St. Petersburg, received a bachelor’s degree in Economics. Has a certificate series 1.0 in Federal Service for Financial Markets (FSFM). At the moment getting a masters degree at Russian Economic Academy G.V.Plekhanov, in Economic Risks. Svetlana began her career with an internship at the Petrocommerce Bank. Prior to joining IFC Metropol she also worked at the management company “Sputnik- Assets Management” in the position of fixed income analyst.