Ecobank’s struggles in raising US$2.5bn in equity show that African equity markets are not immune to the global credit crunch.

Ecobank Transnational Inc (ETI), one of the largest banking groups in Africa, is struggling to raise the US$2.5bn it hoped to raise in a share offering at the beginning of October, in a sign that the credit crunch is making investors risk averse to African stocks.

Ukraine’s most recent political crisis couldn’t have come at a worse time, as banks go bankrupt and investors lose faith in Ukrainian debt.

Asset manager hires Simon Roberts and three senior managers from NewSmith.

UK development finance institution appoints new managing director.

Russian investment bank names new chief executive.

Bank hires head of equity capital markets for Poland.

Advisory firm appoints four new partners in the Middle East.

Russian financial services group creates new CEO role for international operations.

Law firm hires London-based high-yield finance specialist.

Japanese bank appoints new EMEA head.

Arefyev returns to investment bank as co-head for Russia.

Kenyan exchange boss announces his departure at end of second three-year term.