March 11, 2013 / 4:10 PM / in 5 years

Citi's head of equities in Russia leaves -sources

MOSCOW, March 11 (Reuters) - The head of Russian equities for U.S. bank Citigroup Inc, Igor Kan, is to leave, three sources with direct knowledge of his plans said on Monday.

One of the sources said Kan was moving to a financial platform being created by state-controlled Rosneft, Russia’s top oil producer.

Rosneft in November hired a number of Morgan Stanley veterans, led by former co-president Walid Chammah, to advise on an overhaul of its financial assets and create a platform for hedging its oil trade.

“Kan moves to Rosneft-bank, but it’s unclear what exactly he will be in charge of there,” one of the sources said.

Igor Kan joined Citi in January 2011 after 15 years at Morgan Stanley.

Citi declined comment. Kan and Rosneft could not immediately be reached for comment.

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