Chief analyst of Sberbank CIB Alexander Kudrin resigned because of Gazprom,

The management of the bank refused to protect its specialists. German Gref called their report on Gazprom's inefficiency "a gross violation of ethical standards." Earlier, the bank had already apologized to Rosneft for its unbelievable Rosneft report: We Needed Talk About Igor in October 2017.
23.05.2018
Vedomosti
Origin source
The head of the analytical division of "Sberbank CIB" Alexander Kudrin since May 23 is no longer working in this position, Interfax reported with reference to the press service of the Savings Bank. Kudrin was dismissed by agreement of the parties, the press service said, without specifying the details. Kudrin himself declined to comment on Vedomosti.

Kudrin's departure became known the day after the "Sberbank CIB" left his subordinate - analyst Alexander Fack. He was one of the authors of the report, which stated that the main beneficiaries of Gazprom's major projects - the gas pipeline "Power of Siberia", "North Stream-2" and "Turkish Stream" - are the contractors of Gazprom - Stroygazmontazh Arkady Rotenberg and Stroytransneftegaz (about 50% belongs to Gennady Timchenko and his family).

The report was published "in violation of the company's internal regulations" and "with gross violations of ethical standards," the press service of the President of the Sberbank, German Gref, said on Wednesday.

 "In fact, his author drew conclusions from unverified, unconfirmed data, thereby misleading the market. That it's irresponsibility or a conscious provocation, I can not say, "Gref said. "However, our standards of professionalism do not allow us to endure such unprofessional actions, so Sberbank CIB made decisions with the author of the report and the persons who allowed the report to leave."

Sberbank's vice president, head of Sberbank CIB, Igor Bulantsev, told Vedomosti that Fack agreed with the arguments about the incorrectness of the report and left the company on May 23. So far, Sberbank Investment Research has not sent out reports that Fake's estimates and recommendations for shares and depository receipts of these companies are being withdrawn, Interfax notes.

Fack was among the authors of another scandalous report. The report came out in October and originally contained a paragraph with the title Rosneft: We Need to Talk About Igor (Rosneft: We Need to Talk About Igor) and criticism of Igor Sechin, Chief Executive Officer of Rosneft. After the widespread report began to be discussed in social networks, it was canceled and released a new version, removing therefrom negative characteristics, several sources of Vedomosti said. The original version was issued in violation of the accepted quality standards of analysts, the representative of Sberbank CIB then explained.

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