Morgan Stanley to lose Russia chairman and president

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Reuters
MOSCOW | Thu Aug 30, 2012 1:40pm EDT

MOSCOW (Reuters) - The chairman of Morgan Stanley's (MS.N) Russian office, a former Rosneft (ROSN.MM) executive whose team led the top Russian oil producer's 2007 initial public offer, and its president are stepping down, a spokesman for the bank said on Thursday.

Rair Simonyan, who served as president of the bank for around a decade before becoming chairman, and Yelena Titova, the bank's current president, will leave the bank, spokesman Vladimir Tumarkin said, without specifying their future plans.

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