11 Oct 2010 16:38

Former MICEX chief Korischenko gets tops spot at Merrill Lynch in Russia

MOSCOW. Oct 11 (Interfax) - The former head of Russia's MICEX Stock Exchange, Konstantin Korischenko, has been tapped to head Merrill Lynch in Russia, the bank told Interfax.

Interfax sources reported earlier than Korischenko had departed the MICEX, but were unable to comment on the reasons for his departure.

This past May, Merrill Lynch announced that then-chief Bernard Sucher would be leaving the post in August, since which time the job has been empty.

Korischenko came to the MICEX in 2008 during the height of the repo crisis, replacing Alexander Potemkin. Later, in March of the following year, he also took over as general director of the MICEX Stock Exchange, replacing Alexei Rybnikov.

This past June, the exchange's shareholders decided to put Ruben Aganbegyan in the MICEX president's chair. Korischenko remained general director of the MICEX Stock Exchange and senior vice president at the MICEX.

Before joining the MICEX, Korischenko was deputy chairman at the Central Bank of Russia, and from 2003-2008 he chaired the exchange's board of directors.

The Central Bank is CJSC MICEX's biggest shareholder with 29.8% of charter capital. Vnesheconombank, Sberbank of Russia , and VTB also have significant interests, and with the Central Bank hold a combined 56.7%.