Georgy Egorov, head of emerging markets ECM at UBS in London, has left to join CompareEuropeGroup, the UK-based financial management platform for insurance, banking and telecommunications.
At UBS, Egorov was a managing director working on ECM deals in emerging markets across the EMEA region. UBS wants to replace him in the near future.
A Russian native, Egorov has almost 20 years' experience in finance. He joined UBS in June 2010 from Goldman Sachs, where he had been an executive director.
Earlier in his career he worked at the European Bank for Reconstruction and Development in London and at PwC in Moscow.
Founded in 2015 by Antonio Gagliardi, Thomas Munk and Mads Faurholt-Jorgensen, former employees of Goldman Sachs and McKinsey, CompareEuropeGroup has more than 100 staff in five European countries.
It works with more than 50 companies across Europe, including Allianz, Santander, HSBC and Nykredit, to offer a price comparison platform for the insurance, banking and telecoms sectors.
It completed a €20m Series A funding round earlier this year. The investment was led by ACE & Co and attracted commitments from Pacific Century Group, Nova Founders Capital, SBI Holdings and Mark Pincus, founder of Zynga, and Peter Thiel, founder of Paypal.
Since its creation, CompareEuropeGroup has not had a CFO, and was waiting for a candidate with the right experience.
"So far we have been able to manage without a CFO," said a source close to the company. "It is not every day that you are able to find someone with Georgy's experience, so we wanted to wait until we found the right fit."
Egorov's appointment is intended to help CompareEuropeGroup progress from its first round of venture capital financing to potentially tapping public markets in the future.
“With Georgy’s vast experience from the financial industry, having raised financing for some of the largest companies in the world, Georgy is the perfect fit to take us from Series A to the next stage of our development," said Gagliardi, co-founder and managing director of CompareEuropeGroup, in a statement. “In addition to his experience we are excited to see the energy, professionalism and drive that Georgy brings to the team.”
During his time at UBS, Egorov worked on some of the largest EMEA emerging markets ECM transactions in recent years.
In 2017, he was involved in the Z1.65bn ($400m) Warsaw IPO of Dino Polska, the regional supermarket chain, the largest Polish IPO for more than two years.
In February, UBS was a bookrunner on the Moscow flotation of Detsky Mir, the Russian toy store, which reached Rb21.1bn ($352m), making it the biggest Russian IPO since 2014.
More recently in May, UBS led a block trade alongside Bank of America Merrill Lynch and Citigroup for Telia, which sold a 7% stake in Turkcell, the Turkish telecoms group, for TL1.77bn ($502m).