Otkritie Securities has appointed Howard Snell as executive chairman.
In a series of internal appointments, the company has also promoted Evgeny Kunts to deputy chief executive officer.
In addition to the new management appointments, Otkritie will be building up its sales trading team based in London. Otkritie has relocated head of equity trading Nicholas Richmond from Moscow to London, who has been tasked with expanding the trading team in the UK over the next 12 months.
Roman Lokhov, director and chief executive of Otkritie, says: “We are delighted to have appointed Howard as executive chairman and with him at the helm we aim to build on our recent growth and continue to increase our market share across our target businesses. Over the past year we have reached significant client and trade volume milestones and recruited many of the most talented analysts in Russia. Building on the success of our Direct Market Access product, and with the strong new board, we will help firmly establish Otkritie at the forefront of Russian brokerage market.”
Snell (pictured) says: “I am very pleased to be joining Otkritie as executive chairman, during this exciting growth phase. Russia continues to be a very attractive investment proposition, providing opportunities for long term international investors and Otkritie has capitalised on this with significant growth over several years. Today we move forward with the ongoing development and expansion of our business. My major goal as executive chairman will be further strengthening Otkritie’s position in both the Russian and international markets.”