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London: Otkritie, the Russian brokerage which has doubled in size in the last year, has appointed two leading Russia and CIS market figures to its new Financing Services Group team.

Temo Jorbenadze and Dmitry Perman will join the firm’s Investment Banking Financing Services Group as Head and Director respectively. The Financing Services Group will provide the firm’s clients with a broad spectrum of financing solutions, including access to public and private capital markets and leveraging Otkritie’s strong existing distribution and research platforms.

Temo has extensive experience in the CIS region and Russia. Prior to joining Otkritie, Temo was a Director for Investment Banking at VTB Capital plc in London, where he was responsible for the development of the European Financial Sponsor coverage and corporate finance transactions with a focus on cross-border situations. Before VTB Capital, Temo was a Manager for Russia & CIS at Rothschild.

Dmitry has particular experience in Corporate Finance and Investment Banking in the CEEMEA region, with focus on Russia. Prior to joining Otkritie, Dmitry worked as a Director at the Moscow-based boutique advisory firm Advance Capital, where he was responsible for coverage of the Financial Institutions sector in the Russia/CIS region. Dmitry has also worked in the investment banking departments of Morgan Stanley, Merrill Lynch and Rothschild in London and Moscow, focusing on cross-border situations in the CIS region.

Roman Lokhov, CEO of Otkritie Securities Limited said:

“We are delighted to welcome Temo and Dmitry to Otkritie to join our fast-growing team. They bring a wealth of experience in investment banking and their appointments will add credibility and strength to our recently established Financing Services Group. These appointments provide further evidence of the aggressive growth plans we have as a business, our continued increase of market share and our determination to establish Otkritie at the forefront of the Russian brokerage market.”

Over the last year Otkritie has added more than 50 new Russian and international institutional clients and recruited 12 analysts from leading brokerages across Russia to join its research team. Its equity trading volumes were more than USD80bn in 2009, with most activity in exchange traded instruments. Since January 2008, Otkritie has jumped from 64th to steady TOP 15 position in 2009 in the London Stock Exchange rankings for Russian Depository Receipts section, with monthly trading rising from 2 million to half-a-billion British pounds in that time.  According to RTS recent monthly statistics, Otkritie brokerage represents 13.4% of FORTS exchange traded derivatives volumes in Russia, ranked 1st in RTS Standard and RTS options trading volumes and in client base growth rates. Otkritie DMA and phone execution clients have traded more than 3 million contracts at CME Group, ICE, EUREX, NYSE Euronext, SGX and LME in 2009.

Otkritie Securities Limited (OSL) is the UK-based subsidiary of OTKRITIE Financial Corporation (OFC), one of the leading financial services providers in Russia. OFC has acted as a broker, asset manager, financial consultant and investment bank for its clients since 1995.

Otkritie is the only major Russian broker offering ‘plug and play’ Direct Market Access (DMA) to the Russian exchanges, from a London based, FSA regulated office. Otkritie provides execution services to hedge funds, asset managers and broker dealers. Accredited by most European exchanges where Russian instruments are traded, it offers global market connectivity and order-routing from its offices in London, Moscow and Frankfurt.

Otkritie provides a full range of brokerage services to international clients, including research and execution. The firm’s practical experience and deep understanding of Russian markets mean Otkritie can offer local insight and highly efficient solutions to trade equities, depository receipts and derivatives on MICEX, FORTS, RTS, LSE, Xetra and EDX London. Their prime brokerage services, including custody and asset management, financing and securities lending, issuance and cancellation of depository receipts, clearing & settlements and forex solutions, are offered globally.