Rosneft has appointed a team of Morgan Stanley veterans led by former co-president Walid Chammah as advisers to Rosneft President Igor Sechin, the Russian national oil company said on Monday.Two top executives from Morgan Stanley's Moscow office, Rair Simonyan and Elena Titova, have also been hired to advise Sechin, who has launched a series of international exploration deals and a $55 billion takeover of BP's Russian joint venture, TNK-BP.Titova will also become president of a Rosneft-owned bank, the mid-sized Russian Regional Development Bank, which had assets of 88.5 billion roubles ($2.8 billion) as of Oct 1.Chammah and Simonyan will join its board, aiming to develop it into a universal financial institution, Rosneft said in a statement.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.23% or $0.039/share to $16.65. In the past year, the shares have traded as low as $12.26 and as high as $21.19. On average, 22513300 shares of MS exchange hands on a given day and today's volume is recorded at 1909891.
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