Petr Grishin Renaissance
Second team Maxim Raskosnov Renaissance
Third team Alexey Bulgakov Troika
Praised for "independent insights across a range of topics," in the words of one money manager, Renaissance Capital’s Petr Grishin , 31, repeats in first place. Government-owned Krasnoyarsk Airlines’ high debt, aged aircraft fleet and operational losses prompted Grishin to steer clients away from the company’s bonds in August, despite official promises to continue funding operations. By October the air carrier had ceased operations. "Petr is always our first call — he invariably proves to be as knowledgeable and helpful as expected," marvels one admirer. Grishin’s RenCap colleague Maxim Raskosnov vaults from runner-up to second place. Raskosnov, who specializes in bank credits, warned clients last June that Bank Soyuz’s declining profits made its debt overvalued, and in October Moody’s downgraded the bank’s credit rating because of its "weakening liquidity profile following its recent significant trading losses, as well as the outflow of a sizeable portion of customer funds." In December the troubled bank agreed to be acquired by Gazprom Group in a government-backed takeover. Alexey Bulgakov , who left RenCap in August to join Troika Dialog, repeats in the No. 3 position. In January the analyst recommended Red Arrow International Leasing’s 2012 notes, which had sunk to 57 percent of par value, on the belief that they offered short-term exposure to quasisovereign debt as the Russian currency was primed to rally. By the end of April, the notes had climbed back to 87 percent of par. "Alexey thinks like a bond guy," says one appreciative investor.
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