| |
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.
|
| |
| ANALYST CERTIFICATION |
| Each research
analyst primarily responsible for the content, in whole or part, of
this research report certifies that with respect to each security
or issuer that the analyst covered in this report: (1) all of the
views expressed accurately reflect his or her personal views about
those securities or issuers; and (2) no part of his or her
compensation was, is, or will be, directly or indirectly, related
to the specific recommendations or views expressed by that research
analyst in the research report. Global Disclaimer. This report was
produced by: “METROPOL” Investment Financial Company Ltd
(“METROPOL” IFC Ltd) a member of all leading Russian exchanges:
MICEX, RTS and Stock Exchange “Saint-Petersburg”. “METROPOL” IFC
Ltd is an affiliate of Metropol (UK) Limited. Head Office: 13 bld 1
Donskaya Street, Moscow, Russia, 119049. This document has been
prepared by “METROPOL” IFC Ltd and, except as otherwise specified
herein, is communicated by “METROPOL” IFC Ltd. This document is for
distribution only under such circumstances as may be permitted by
applicable law. The information and opinions contained in this
document have been compiled or arrived at based on information
obtained from sources believed to be reliable and in good faith.
Such information has not been independently verified and no
representation or warranty, either expressed or implied, is
provided in relation to the accuracy, completeness or reliability
of such information and opinions, except with respect to
information concerning “METROPOL” IFC Ltd, its subsidiaries and
affiliates. All such information and opinions are subject to change
without notice and “METROPOL” IFC Ltd is not under any obligation
to update or keep current the information contained in the
document. Opinions expressed in this document may differ or be
contrary to opinions expressed by other business areas or groups of
“METROPOL” IFC Ltd as a result of using different assumptions and
criteria. This document is for information purposes only.
Descriptions of any company or companies or their securities or the
markets or developments mentioned herein are not intended to be
complete. This document should not be regarded by recipients as a
substitute for the exercise of their own judgment. This document
has no regard to the specific investment objectives, financial
situation or particular needs of any specific recipient. This
document is not and should not be construed as an offer, or a
solicitation of an offer, to buy or sell any securities or other
financial instruments, and cannot be relied upon as a
representation that any particular transaction necessarily could
have been or can be effected at the stated price. “METROPOL” IFC
Ltd and its affiliates, their directors, representatives, employees
or clients may have or have had interests or long or short
positions in any of the securities or other financial instruments
mentioned in this document or of issuers described herein at any
time and may make a purchase and/or sale, or offer to make a
purchase and/or sale, of any such securities or other financial
instruments from time to time in the open market or otherwise, in
each case as principals or as agents. |
“METROPOL” IFC Ltd
and its affiliates may act or have acted as Market Maker in the
securities or other financial instruments described in this
publication, and may have or have had a relationship with or may
provide or have provided investment banking and/or other financial
services to the relevant companies. Employees of IFC Metropol or
its affiliates may serve or have served as officers or directors of
the relevant companies. “METROPOL” IFC Ltd may rely on information
barriers, such as "Chinese Walls", to control the flow of
information contained in one or more areas within “METROPOL” IFC
Ltd, into other areas, units, groups or affiliates of “METROPOL”
IFC Ltd. The securities described herein may not be eligible for
sale in all jurisdictions or to certain categories of investors.
Options, derivative products and futures are not suitable for all
investors and trading in these instruments is considered risky.
Past performance is not necessarily indicative of future results.
Foreign currency rates of exchange may adversely affect the value,
price or income of any security or related instrument mentioned in
this report. For investment advice, trade execution or other
enquiries, clients should contact their local sales representative.
Neither “METROPOL” IFC Ltd nor any of its affiliates, nor any of
Metropol (UK) Limited or any of its affiliates, directors,
employees or agents accept any liability for any direct or
consequential loss or damage arising out of the use of all or any
part of this document or the information contained herein. This
document may not be reproduced, distributed or published, in whole
or in part, for any purpose without the written permission of
“METROPOL” IFC Ltd and “METROPOL” IFC Ltd accepts no liability
whatsoever for the actions of third parties in this respect.
This document should not be distributed, published, reproduced or
otherwise made available in whole or in part or disclosed by
recipients to any other person and, in particular, should not be
distributed to persons with addresses in Canada, Australia, the
Republic of South Africa, the Republic of Ireland, Japan, or the
United States or in any other country outside the United Kingdom
where such distribution may lead to a breach of any law or
regulatory requirements.
This document has been approved and communicated by Metropol (UK)
Limited in the United Kingdom as non-objective research for the
purpose of the Financial Services Authority rule 12.3. It is
communicated to persons who are Eligible Counterparties or
Professional Clients as defined under the rules of the Financial
Services Authority. Circulation must be restricted accordingly. The
information contained herein does not apply to, and should not be
relied upon by, Retail Customers. Metropol (UK) Limited is
incorporated under the laws of England and Wales (Company Number:
03642330), is authorized and regulated by the Financial Services
Authority (FRN 191231), and is a member of the London Stock
Exchange. Additional information and supporting documentation is
available upon request. ©2005 by “METROPOL” IFC Ltd. All rights
reserved. Metropol UK Limited, Princes House, 38 Jermyn Street.
London, SW1Y6DN. |
|