VTB Bank Europe has announced the appointment of George Niedringhaus as head of fixed income syndicate, trading and sales. Mr. Niedringhaus will be based in London and is responsible for building and managing global markets fixed income trading and distribution capabilities for the VTB Group. Niedringhaus will report to Steve Thunem, head of global markets.
Mr. Niedringhaus has been a key figure in emerging markets for over a decade, most recently as global head of emerging market syndicate at ABN AMRO. Niedringhaus is well known and respected and has been a critical element to ABN AMRO's fixed income business in Russia and the CIS. Niedringhaus' appointment reflects VTB Group's intention to build a leading capital raising franchise in the Russia and CIS area.
VTB Bank Europe intends to develop a full range of capital raising activities in the loan, fixed income and equity capital markets as well as advisory and direct equity investment capabilities focused on assisting clients in its core Russian and CIS markets. VTB Bank Europe became a member of the VTB Group on 28th December 2005 and is a subsidiary of JSC VTB Bank, the second largest bank in Russia.
Commenting on the appointment, Mr Igor Souvorov, chairman and CEO of VTB Bank Europe, says, "We are delighted that George Niedringhaus is joining VTB Group's global markets team. His extensive experience and expertise will assist us to develop a strong debt capital raising platform for our clients in Russia and the CIS."