September 10, 2014 / 10:07 AM / in 5 years

MOVES-VTB Capital's top Asia executive resigns

HONG KONG, Sept 10 (IFR) - Damian Chunilal has resigned as Asia CEO of VTB Capital, after more than two years as the Russian investment bank’s top executive in the region.

The firm named Judy Lim interim CEO for VTB Asia after Chunilal tendered his resignation on Monday. Lim has been at VTB in Singapore since 2009 as head of global markets distribution for Asia.

Chunilal joined VTB shortly after the Russian bank opened its Hong Kong office in November 2011. Before that, he spent more than 19 years at Merrill Lynch in London and Hong Kong, most notably as head of its Asia-Pacific investment banking business. He left Merrill in November 2008.

VTB Capital’s parent, Russia’s second-largest bank VTB , has been barred from raising money on Western capital markets under sanctions triggered by Moscow’s support for rebels in Ukraine. (Reporting By Timothy Sifert and Umesh Desai. Editing By Steve Garton.)

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