Former Morgan Stanley VP in Russia becomes Rosneft CFO 13:10 | 30/ 03/ 2006
MOSCOW, March 30 (RIA Novosti) - State-owned company Rosneft said Thursday that a former vice president at Morgan Stanley in Russia had become its chief financial officer in the run-up to the company's much anticipated initial public offering.
Peter O'Brien, 36, will supervise strategic investment projects, external financing, business planning and monitoring for Russia's no.2 crude producer and will head a new group of the Rosneft president's financial advisors.
O'Brien has worked in the sphere of finance for 11 years. In the past six years he worked with Morgan Stanley and was involved in investment and banking services to oil and natural gas companies in the former Soviet Union and Europe.
O'Brien acted as consultant in the implementation of Novatek and Statoil IPO programs, the Russian government's purchase of a 10.73% stake in Gazprom and TNK-BP formation.
"O'Brien's experience in the implementation of complicated projects and good knowledge of financial markets will be very useful to the company at the current stage of its development," Rosneft said in a news release.
Russia's Rosneft hires Morgan Stanley man for IPO
Thursday March 30, 4:02 PM
MOSCOW, March 30 (Reuters) - Russian state oil firm Rosneft confirmed on Thursday it had appointed Morgan Stanley's Peter O'Brien to head its financial strategy team in the run-up to a planned initial public offering of shares. Market sources told Reuters of the move two weeks ago.
Rosneft said in a statement that O'Brien, 36, would be responsible for strategic investment projects, debt and equity raising, business planning and monitoring.
It said he would start work on April 3 and was expected to be elected to the management board at the next meeting of the board of directors.
Rosneft's former chief financial officer resigned abruptly in February, raising market concerns the IPO might be delayed. Rosneft wants to raise up to $20 billion with an IPO in July, which would make it the biggest such placement ever. The sale of up to 49 percent of Rosneft will enable the firm to pay off a $7.5 billion loan from banks including Morgan Stanley. ADVERTISEMENT