UBS has appointed former Morgan Stanley top man in Russia, Rair Simonyan, as its chairman and board of directors of OOO UBS Bank, Russia, subject to approval. Elena Titova, also a former Morgan Stanley senior manager, has been named group country CEO, Russia.

UBS has appointed former Morgan Stanley top man in Russia, Rair Simonyan, as its chairman and board of directors of OOO UBS Bank, Russia, subject to approval. Elena Titova, also a former Morgan Stanley senior manager, has been named group country CEO, Russia.

The Swiss bank’s operations in Russia had been previously led by Nick Jordan. He left to join Goldman Sachs after having been at UBS since 2010.

Simonyan worked at Morgan Stanley – which sold part of its international wealth management arm last year - from 1998-2012, where he was first managing director and president of the firm's operations in Russia, before becoming chairman for Russia. Most recently, he was an advisor to the president of Rosneft on financial assets and a member of the supervisory board of the Russian Regional Development Bank.

Titova worked for 11 years at Goldman Sachs, where she became president for Russia and CIS, before moving on to Morgan Stanley where she spent six years, becoming president, chairperson of the executive board from 2009-2012. She was most recently resident and a member of the supervisory board of the Russian Regional Development Bank.