The Team

Jean-Christophe Lermusiaux

Managing Director - Head of Research
jcl(at)visocap(dot)com

Jean-Christophe joined Visor Capital in November 2008 from Exane BNP Paribas, where he was in charge of the IT Services & Software sector. Jean-Christophe joined Visor Capital having over 11 years of experience as a sell-side analyst, in Paris and in London. He and his team achieved top international rankings (#1 Extel individually, #2 Extel as a team, #1 Starmine for the quality of recommendations). Over the last two years in Exane BNP Paribas, his team ranked #1 out of 25 in the bank’s trading ideas portfolio (Long/Short Equity, absolute performance). Jean-Christophe holds an engineering degree from the Ecole Centrale d’Electronique and an MBA from ESSEC Business School.

Dominic Lewenz

Director
Oil and Gas Research

Dominic joined Visor Capital’s research group in June 2008, having previously worked as an Analyst with Wood Mackenzie in Edinburgh, where he specialised in oil and gas research and consultancy within the Former Soviet Union (FSU) region. Prior to that, he had a consultant role at PricewaterhouseCoopers in London. Dominic has extensive experience of the Central Asian market, dating back to 2000, and has previously worked and lived in both Almaty and West Kazakhstan. He holds an MSc from University College London and a BSc from Sheffield University, both in economics, and has professional membership of the ATT.

Leila Kulbayeva

Director
Mining Sector Research

Leila joined Visor Capital in June 2007 from BCC Invest, the investment subsidiary of Bank CenterCredit. At BCC Invest from November 2005 to June 2007, Leila worked in International Capital Markets consulting Kazakh companies on raising international equity capital and on acquisitions while focusing on the mining sector. Previously she worked as External Affairs Director and Project Finance Manager at the AES Group Companies in Kazakhstan. Leila holds a BS in economics from Kazakh State University and Masters degree in international finance from Columbia University.

Yuriy Khramtsov

Economist

Yuriy joined Visor Capital in September 2007 from CABC and BTA, where he worked as an analyst in research group at Treasury. In his previous positions he did econometric multi-equation and other types of forecasting for the bank and its clients, as well as financial analysis of affiliated companies in real sector. Previously Yuriy worked as a programmer on his own and on Ministry of Education projects. He holds a MSc in physics from Kazakh State University and an MA in economics from Kazakhstan Institute of Management Economics and Strategic Research (KIMEP).

Stanislav Chuyev

Senior analyst
Mining Sector Research

Stanislav joined Visor Capital in October 2009 from BTA Securities, where he worked as an analyst in the Research Department. In his previous position, he specialised in mining research as well as evaluation and financial analysis of the companies representing natural resource and energy sector. Stanislav holds an MSc in physics from Kazakh State University and an MBA in finance from Kazakhstan Institute of Management Economics and Strategic Research (KIMEP).

Renat Syzdykov

Senior Analyst
Financial Sector Research

Renat Syzdykov covers equity and fixed income instruments in the financial sector. He joined Visor Capital in May 2008, after working in Bank CenterCredit in the debt capital markets division. Renat graduated from the Kazakhstan's Institute of Management, Economics and Strategic Research (KIMEP) with a bachelor degree in finance and accounting, and is currently working towards his MBA from the same university.

Zhanar Nazkhanova

Analyst
Oil and Gas Research

Zhanar joined Visor Capital in March 2009. She previously worked at the RFCA in the Development Department, Stock Market Infrastructure Division. She covers publicly-traded oil and gas companies operating in the FSU region. Zhanar holds a bachelor’s degree in Business Administration from Kazakhstan Institute of Management, Economics and Strategic Research (KIMEP).

Anel Yermekova

Analyst
Industrials and Small-cap Research

Anel covers industrial and small cap companies from building materials production, real estate and telecommunications sectors. Anel joined Visor Capital Research team in February 2010. She has previously worked in Risk Management Department, Modelling division, at JSC Kazkommertsbank. She holds Masters of Science in Finance degree from University of St Andrews, as well as Bachelor's degree in Business Administration and Accounting from Kazakhstan Economics and Strategic Research (KIMEP).

Miras Abdukhalikov

Analyst
Mining Sector Research

Miras joined Visor Capital Research Team in September 2010 and covers mining sector with the emphasis on gold companies. He has previously worked in JSC «BCC Invest» as an analyst in the Research Department and specialised in mining and financial sectors. Miras graduated from the University of Birmingham in United Kingdom with a bachelor degree in money, banking and finance.

Nurlan Ashinov

Analyst
Financial Sector Research

Nurlan joined Visor Capital Research team in October 2010 from ATF Bank, where he worked in the restructuring and work-out department. Prior to that, he had worked as an auditor at Deloitte Touche Tohmatsu. Nurlan holds a BA in international relations from Kazakh National University and MBA in finance from Kazakhstan Institute of Management Economics and Strategic Research (KIMEP).

Maulen Burashev

Analyst
Oil and Gas Research

Maulen covers oil and gas companies operating in Central Asia. He joined Visor Capital Research team in November 2010. Maulen previously worked as a senior oil and gas analyst at the Research Department of Halyk Finance. He also had an experience of working as a junior auditor at KPMG, being involved in audit of financial and natural resources companies. Maulen holds MSc in Accounting and Finance from the University of Bristol (UK) and a bachelor’s degree in International Economics (oil business) from the Kazakh-British Technical University.