Gazprombank seeks local Project Finance CEO for SA office

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Gazprombank seeks local Project Finance CEO for SA office

Russia's third largest lender, Gazprombank, is targeting project finance opportunities in Africa's oil and gas industry and it is looking for a South African to head a planned Johannesburg office that will tap project finance opportunities.

With its home economy slowing, Gazprombank is seeking growth opportunities in other emerging markets.

Gazprombank Deputy Chairman Oleg Vaksman said in an interview in Johannesburg a few days ago:

"We're looking for someone with corporate credit and project finance skills. We need local flavor and a CEO who understands both finance and the public sector."

Gazprombank started operations in Luxembourg last year and expanded in Switzerland, Cyprus and Hong Kong. According to sources, a U.K. regulator blocked its bid to open an investment bank in London.

Sources say that Gazprombank plans to apply for a license for a representative office in South Africa and hopes to have central bank approval by the end of the year.

The bank plans hiring from six to 60 people in South Africa. Mr. Vaksman said that Gazprombank will also seek partnerships with as many as three of the country's major banks to help access financing opportunities in South Africa, Mozambique, Angola, Tanzania and Uganda.

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