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Alfa Capital signs senior US manager as Chief Investment Officer
Moscow, 10 October 2003
Alfa Capital, one of Russia's strongest asset managers, underlined its commitment
to the country's growing savings and investment markets today with the hiring
of Charles J. Tennes as Chief Investment Officer.
Mr. Tennes, 50, comes to Alfa Capital from America's Rydex Global Advisors,
a house managing over $ 9 billion in assets. Director of Portfolio, Member of
the Investment Strategy Committee, and Senior Vice President at Rydex, Mr. Tennes
developed and managed a series of successful new funds, as well as leading Rydex's
growing exposure to international markets. Widely respected in the industry,
Mr. Tennes is known to investors as a frequent commentator in major financial
media, including CNBC, CNN-fn, Bloomberg TV, and PBS.
«Chuck Tennes is a leap forward for asset management in Russia,»
declared Bernard Sucher, Alfa Capital's Chairman. «Professionals of this
calibre are essential to ensuring that Russia's savers, pensioners and investors
are served by world class standards».
«Asset management in Russia presents an opportunity of breathtaking scope»,
Mr. Tennes commented. «Given its broad experience in the Russian market
and its well-proven commitment to international business practices, Alfa Capital
is uniquely positioned to earn the confidence of investors at home and abroad».
As Chief Investment Officer at Alfa Capital, Mr. Tennes will be responsible
for the firm's investment process, portfolio team, and client assets. «Given
his experience in all facets of asset management, Chuck will in fact co-manage
the business along with CEO Anatoli Milyukov, and me», added Mr. Sucher.
Alfa Capital, whose parent and distribution partner is Alfa Bank, now has over
$ 100 million in funds under management. The business, which has benefited from
substantial investment over the past year, is active in the pension, corporate
and retail markets, as well as sponsoring an offshore hedge fund.
Mr. Tennes came to Rydex after twelve years at GIT Investment Funds, where
he served as chief operating officer and portfolio manager of Worldwide Growth,
an emerging markets equity fund. Prior to GIT, he was Vice President of Marketing
for Washington D.C.-based Ferris, Baker Watts. As a consultant, Mr. Tennes worked
in Moscow for a year under US government contracts, evaluating the financial
condition of hundreds of private Russian companies. He holds a master's degree
in international trade and commerce from George Mason University and a bachelor's
degree in Slavic languages from the University of Washington.
For more information please contact:
Alfa Capital, Moscow
Tel. 7–095–786–42–60
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