Russian brokerage Otkritie has expanded its equity and derivatives operations with three new appointments.
Georgy Mirel joins as managing director and head of derivatives and equity financing, focusing on Russian and international clients. Before joining Otkritie, Mirel was head of derivatives at investment bank Troika Dialog. Prior to that, he was a fixed income trader at Citigroup.
Maxim Orlovsky has been appointed director of domestic sales. Before joining Otkritie, he worked as an equity trader at Russian bank TKB Capital. Between 2007 and 2008, he was a portfolio manager at Prosperity Capital Management.
Ali Albetkov becomes chief operating officer of capital markets at Otkritie, having worked as COO of fixed income, currencies and commodities at investment bank Renaissance Capital. Previously, he held management roles at Russian manufacturer Magnezit Group and financial planning firm United Financial Group.
“The derivatives business is key for us as we broaden our product range and seek to secure our place in the top ranks of the Russian equity and derivatives broker market,” said Igor Vayn, head of capital markets at Otkritie. “With persistent elevated volatility and mispricing of risk, we see tremendous opportunities going forward to grow our derivatives business.”
Oktritie's UK-based subsidiary, Otkritie Securities London recently launched direct market access for foreign buy-side firms wishing to invest in Russians stocks via the MICEX exchange, in July 2010.