Russia’s online bank Tinkoff has hired former Morgan Stanley Investment Bank and energy executive Pavel Fyodorov to lead the expansion into Southeast Asia.

Feyodorov will work with Oliver Hughes, CEO of the bank, at TCS, a TinkS-owned company.

as if Press releaseThe TCC Board has issued a series of briefings stating that the appointment of joint executives will “further enhance the spirit of entrepreneurship and creativity and at the same time strengthen the executive seat.”

Tinkoff plans to spend $ 200 million on global development over the next two years. The group rHe recently applied for a banking license in the Philippines, exploring its products in India and Indonesia in the coming months and expanding into African and South American markets, the report said.

Tinkoff has 17 million customers in Russia, and its market capitalization has increased this year to $ 22.5 billion, according to FT.

Read more Cian sells IPO shares for $ 16

A.D. On November 5, Tinkoff reported that Cian PLC, the first public offering for the Russian Online Real Estate Forum, was working as one of several bookmakers.

Read more There is no agreement with Tinkoff for the integration of Yandex with Russia.

Last year, Russian search giant Yandex said merger talks with TCS had failed.

A.D. In a statement issued in October 2020, Yandex regretted that it had failed to reach an agreement with Tinkoff’s major shareholders and agreed that the parties would terminate talks with Yandex. 100% for Tinkoff Capital.

The preliminary agreement provided $ 5.5 billion in cash and shares last month, according to a Bloomberg report.

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