Rosneft's only Western manager has been replaced as the company's head of finance less than a year after being hired from Morgan Stanley to lead the Russian energy supplier's multi-billion London and Moscow flotation.

Peter O'Brien, previously a senior investment banker in Morgan Stanley's Moscow office, has been replaced as day-to-day head of the company's finances by Sergei Makarov, a former senior manager at Russia's second largest bank, Vneshtorgbank ,and head of the finance department of state arms company Oboronprom.