Research team

• Andrei Bogdanov
  Head of Research

  Andrei Bogdanov joined Gazprombank in 2008 as the Head of Research. In 1994 Andrei graduated from Finance Academy with a degree in Finance and Credit. In 1995 he joined the London office of Morgan Stanley as an intern at EM Research. From 1996 he was a Senior Analyst at Troika Dialog. In 1997 he joined the London office of ING Barings as a Senior Analyst. In 1998 he assumed the role of Eastern Europe and Russia Equity Research Manager at Dresdner Kleinwort Benson’s London office. He then got several promotions from senior analytical positions to Alfa Bank’s Head of Research. In 2006 he assumed the role of Head of Research at Troika Dialog Ukraine and of Head of Research BD in CIS countries at Troika Dialog.

• Alexey Demkin
  ED, Head of Fixed Income Research

  Alexey Demkin, CFA, has been working on financial markets since 1996. Alexey has extensive experience in various investment companies, Securities Markets magazine, NAUFOR (Russian National Association of Securities Market Participants) and Expert RA national rating agency. Following 7 years in IB TRUST/NB TRUST where Alexey held a position of senior analyst, then was appointed to Head of Fixed Income Research, he joined Sberbank Capital in early 2009 running the Research Team, where Alexey’s role included distressed debt restructuring of the parent company as well as debt equity swap. In April 2010 he joined Gazprombank assuming the position of Head of Fixed Income Research, where he will be responsible for analytical coverage aiding the bank’s client-oriented business development. Alexey is Executive Director and Deputy Head of Research.
  
  In 1997 Alexey graduated from MSU Physics Faculty, in 1998 he earned his master’s degree in Financial Management and Stock Markets from State University – Higher School of Economics. Several times Cbonds client surveys named TRUST Fixed Income Research team headed by Alexey the strongest on the Russian bonds market. Alexey ranked second among corporate debt product analysts in Institutional Investor All-Russia Research Team-2008 and third in All-Russia Research Team-2007 surveys.

• Ivan Khromushin
  Senior Oil & Gas Analyst

  Ivan joined Gazprombank team in 2005. He is responsible for coverage of Russian oil and gas sector. Prior to Gazprombank, Ivan was Investor Relations Analyst at YUKOS Oil Company from 2003. Ivan holds a PhD degree in Global Economics from the Institute of World Economy and International Economic Relations at the Russian Academy of Science and an MS degree in Global Economics from Moscow Finance Academy at the Government of the Russian Federation.

• Yakov Yakovlev
  Credit Analyst

  Yakov Yakovlev joined Gazprombank in February 2009. As a member of Fixed Income Research team, Yakov is responsible for credit coverage of Russian issuers represented both on local and eurobonds markets. Prior to joining Gazprombank, Yakov worked as a credit analyst in Renaissance Capital, covering CIS telecoms, consumer/retail companies. Yakov holds an MS degree in Finance from Higher School of Economics, Moscow, and a BA degree in Еconomics from Novosibirsk State University.

• Pavel Pikulev
  Fixed Income Strategist

  Pavel Pikulev joined Gazprombank's Research Team in September 2010. Prior to Gazprombank he worked for National Bank Trust. Pavel ranked 3rd in Fixed Income Strategy (Russia) according to 2010's Institutional Investor magazine survey. Since December 2009 he has been membering in ARB's
  Monetary & Credit Council Russia. In Gazprombank Pavel is responsible for fixed income markets strategy.

• Andrey Klapko
  Banking Analyst

  Andrey Klapko joined Gazprombank in August 2010. He is covering Banking and Finance companies. Andrey has a track record in stock markets since 2002. He started his analytical career working with Altyn Invest, a subsidiary of Kazakh TuranAlem Bank (now BTA Bank). Later Andrey joined Trust Bank where he was covering Telecom and Banking sectors, he was also appointed Head of Research at Probusinessbank.
  In 2002 Andrey graduated from Plekhanov Russian Academy of Economics holding a BA degree in Finance and Credit, while in 2005 he defended a PhD thesis in Stock Market Price Forecasting in Finance Academy under the Russian Government.

• Yury Tulinov
  Credit Analyst

  Yury Tulinov joined GPB analytical team from National Bank TRUST in May 2010. Yury is covering ruble bond and eurobond issuers, mainly of the banking sector, and participating in primary placements of debt securities organized by the DCM department. Yury holds Specialist degree in Finance from Moscow State Institute of International Relations (MGIMO) and participates in the CFA Programme (Level II exam passed, June 2011).

• Alexei Astapov
  Transport, Industrial & Chemicals Analyst

  Within the GPB Research Team Aleksei Astapov is responsible for coverage of Russian transport, industrial and chemical companies. Prior to joining GPB Aleksei completed his MS degree in Economics at Suffolk University (Boston, USA). Aleksei also holds a BS degree in Finance from Belarus State Economic University and successfully completed CFA Level I and II.

• Sergei Kanin
  Senior Metals & Mining Analyst

  Metals and Mining Analyst, Sergei Kanin joined Gazprombank Research in 2009. His main focus is on Russian metal and mining stocks. Prior to Gazprombank, Sergei was the Senior Analyst in FIM Securities, the Pan-European brokerage house with headquarters in Helsinki and Reykjavik. Prior to FIM Sergei used to work as a Metals and Mining Research Analyst in Sovlink, a Moscow-based mid-size brokerage company.

• Anna Kurbatova
  Telecom & Media Analyst

  Anna Kurbatova joined GPB equity research team in June 2009 with the aim to cover Russian telecoms stocks. Prior to GPB Anna worked as an telecoms and media analyst in UniCredit Securities and Alfa-bank. before joining capital markets in 2006 Anna was responsible for investor relations in Rostelecom. Anna graduated from State University for management (GUU).

• Dmitry Kotlyarov
  Utilities Analyst

  Dmitry Kotlyarov is responsible for coverage of electric utilities. Dmitry joined Gazprombank in 2005. He holds a Master's and a Bachelor's degrees in Economics from Lomonosov Moscow State University.

• Anna Bogdyukevich
  Macro Analyst

  Within the research team, Anna is responsible for monitoring the macroeconomic situation in Russia and abroad, and for forecasting the key macroeconomic parameters. Her areas of responsibility also include strategic comments on the Russian stock market. She has been working in Gazprombank since Sep 2007.
  Anna graduated from State University – Higher School of Economics (Moscow, Russia) in 2007 with an MSc degree in Economics. She also holds a BSc Degree in Banking and Finance from the London School of Economics and Political Science (University of London External Programme).