18 Feb 2019 09:21

Ivashentseva, Kalinin take over Calvey's duties in Baring Vostok after his arrest

MOSCOW. Feb 18 (Interfax) - Senior partner of Baring Vostok Capital Partners Elena Ivashentseva and the fund's co-founder and partner Alexei Kalinin have taken over duties of Baring Vostok founder Michael Calvey after his arrest.

The company suspended the office of four members of its team, namely senior partner Calvey, partners Vagan Abgaryan and Philippe Delpal, and investment director Ivan Zyuzin, Baring Vostok said in a statement.

The company expressed its "absolute confidence" that the accusations brought against Calvey and the other employees are unfounded, and that the court will establish the truth.

Calvey and some other employees of Baring Vostok, which is the oldest and biggest actor on the Russian market of direct investment, were put under two-month arrest on February 15 and 16 on fraud counts. Their case drives from a shareholder conflict at the Vostochny bank.