MOSCOW, July 12 Three former Morgan Stanley
veterans have left a bank owned by Russian oil giant Rosneft
, which said it was moving to focus the business on
corporate and retail banking.
The Russian Regional Development Bank had only hired the
executives - Walid Chammah, Rair Simonyan and Elena Titova - in
A Rosneft spokeswoman dismissed suggestions there had been
any falling out between the individuals and the state-owned oil
group's boss Igor Sechin, a close ally of President Vladimir
"All went their separate ways based on agreements among the
parties - the bank changed its concept to focus on its core
business," she said.
The bank's assets stood at 83.2 billion roubles ($2.6
billion) in the first quarter of 2013, according to Interfax
data, putting the lender at No. 64 by this measure among local
Another former Morgan Stanley veteran, Dmitry Avdeyev, left
as chief financial officer of Rosneft in March.
($1 = 32.5750 Russian roubles)
(Reporting by Katya Golubkova; Editing by Mark Potter)