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. Last Updated: 07/27/2016

Chubais Tapped by JPMorgan

JPMorgan Chase said Friday that it had named former Unified Energy System chief Anatoly Chubais to its international advisory board.

He will be the first Russian to join the exclusive group of consultants to the bank, sitting alongside former U.S. Secretary of State Henry Kissinger and Xi-Qing Gao, the chief executive of China's $200 billion sovereign wealth fund.

Chubais is the head of the cash-rich State Nanotechnology Corporation, one of several firms created last year to jump-start investment in nonenergy sectors.

President Dmitry Medvedev appointed him on Monday to lead the company, which has received $5.1 billion of budget funds.

"It is a great honor that a person with such unique experience as Anatoly Chubais will share with our firm his views and analyses of the ways we invest," JPMorgan Chase chairman Jamie Dimon said in a statement.

Chubais is held chiefly responsible for the breakneck privatization of Soviet assets in the 1990s, which saw major industries sold off at bargain prices.

In recent years, Chubais has been the architect of the country's electricity reforms, selling off most of UES's assets to private investors. The former monopoly was liquidated July 1.