Russia’s Otkritie Hires Ex-Goldman Sachs Fixed Income Head

Mar 21 2012 | 9:18am ET

Russian investment bank Oktritie Capital has appointed former Goldman Sachs Moscow fixed income head Michael T. Workman to head its own fixed income business.

Workman will operate between Moscow and London and report to Otkritie Group CEO Igor Vayn.

Workman is an emerging markets specialist with significant experience in global fixed income and Russian markets. At Goldman, he was an executive director in the fixed income, currencies and commodities group, responsible for the bank’s structured principal investments in the region.

Prior to Goldman, Workman was a senior credit trader in Moscow for UBS and head of fixed income at National Bank Trust.  He began his investment banking career in Russia with Renaissance Capital.

“In any emerging market there is a need for a strong local investment bank that can act as a bridge between domestic and international capital flows,” said Workman in a statement. “Given Otkritie’s well-established domestic franchise and its growing international presence, the firm is positioned to benefit as local credit markets grow in importance as a source of funding for corporate and government borrowers.”

Established in 1995, Otkritie Capital is a leading Russian financial services provider, which serves as a broker, financial consultant and investment bank for its clients. The company specializes in providing access to the Russian and CIS markets for Russian and international clients and had trading turnover of $1.8 trillion in 2011.

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