In line with its strategy of building market-leading businesses in developing markets, Morgan Stanley today announced its intention to seek appropriate regulatory approvals to establish an office in Kiev, Ukraine. The Firm also announced the appointment of Mr. Ihor Mitiukov as Managing Director and Head of Morgan Stanley’s Office in Kiev, reporting to Rair Simonyan, Head of Morgan Stanley in the region, and Franck Petitgas, Global co-Head of Investment Banking. Mitiukov, who previously served as a Minister of Finance and Deputy Chairman of National Bank of Ukraine, will work closely with Pavel Fedorov, Head of Investment Banking in the region, to develop Morgan Stanley’s business in the country into the leading investment banking franchise.
“As we continue to develop our business in Eastern Europe, Ukraine with its growth potential is a strategically important market for Morgan Stanley,” commented Walid Chammah, co-President of Morgan Stanley and Chairman of Morgan Stanley International. “We believe that this is the right time to enhance Morgan Stanley’s on-the-ground presence.”
“We are very pleased that Ihor Mitiukov is joining the Firm to lead our business in Ukraine,” added Rair Simonyan. “He is a talented executive with an extensive range of experience, and he will play a critical role in building our business in Ukraine.”
“I am delighted to be joining Morgan Stanley,” said Ihor Mitiukov. “As Ukraine is starting to open up to global capital markets, there is considerable demand from Ukrainian clients for investment banking and capital markets solutions and Morgan Stanley, with its global franchise, network and capabilities, is uniquely placed to deliver such solutions. This is a great opportunity to build a market-leading business and one to which I am very much looking forward.”
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. The firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 33 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Note to Editors:
Mr Mitiukov is the Director General of the Financial Policy Institute, a Ukrainian non-governmental organization which he founded in 2002.
From 2002 to 2005, Mr Mitiukov served as Ukrainian Ambassador to the United Kingdom. He also represented Ukraine in the International Maritime Organisation.
From 1997 to 2001 he served as Minister of Finance for Ukraine, during which time he undertook a comprehensive reorganization of the Ministry of Finance. He also reformed budget procedures and intergovernmental relations, and served as IMF and EBRD Governor for Ukraine. Under his leadership Ukraine entered the international capital markets in 1997, and his team successfully restructured Ukraine’s London Club $2.5 billion debt in 2000 and Paris Club $800 million debt in 2001.
Mr. Mitiukov was Ukraine's Special Representative (with Vice-Prime Ministerial status) to the European Union in Brussels from 1995 to 1997.
In 1994, he was successively Deputy Governor of the National Bank of Ukraine and Vice-Prime Minister of Ukraine for banking and finance. He was chief negotiator for Ukraine on a $500 million Rehabilitation Loan with the World Bank in 1994.
Mr. Mitiukov graduated from the Cybernetics Department, Kyiv State University and has a Ph.D. in Economics (1985) from the Institute of Economy, Academy of Sciences (Ukraine).
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