1 Apr 2010 16:17

TransCreditBank creating investment company

MOSCOW. April 1 (Interfax) - TransCreditBank is setting up an investment company called CJSC TCB Capital, a statement from the lending organization says.

Key lines of business for TCB Capital will be client trading operations on stock, debt, and derivatives markets, organizing and shepherding deals in the field of mergers and acquisitions, raising debt and share capital, involvement in the reformation of Russia's railway sector, and corporate-reorganization consulting.

TCB Capital shareholders will be TransCreditBank itself (51%), and the closed mixed-investment mutual fund RVM Russian Transit (49%), which is managed by RVM Capital (the non-state pension fund Blagosostoyanie and railcar builder Rosvagonmash are its shareholders). The new investment company's share capital will be 800 million rubles, and the company is expected to be registered this month.

Investment-banking services personnel from TransCreditBank and KIT Finance will make up the core TCB Capital team. Company strategy will be to seek out new specialists from the investment bank business with experience working on the Russian and on international markets.

Maxim Tsyganov, the current KIT Finance CEO, will become TCB Capital's general director.

Roman Zhurkov, who heads the TransCreditBank investment-banking services department, will be responsible for developing the new company's debt-market group. Dmitry Gerkusov will be in charge of corporate finances and raising share capital.

When the registration process is completed, current TransCreditBank and KIT Finance investment-division deals will be wrapped up at TCB Capital.

"We think that now is a good time to create and develop an investment company on the basis of available resources," the statement cites TransCreditBank President Yury Novozhilov as saying. "The main focus will be on strengthening a number of directions, primarily organizing access for middle-sized companies to capital markets," he said.

Russian Railways owns 55% of TransCreditBank shares, Blagosostoyanie 19.95%. TransCreditBank ended 2009 in 16th place by assets on the Interfax-100 ranking of Russia's biggest banks.