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Anastasia "Nastya" Malyugina

Managing Director

Anastasia (Nastya) Malyugina is a chartered accountant and a managing director at BRG, based in London. She leads BRG’s Eastern Europe Disputes and Forensics practice.

Before joining BRG in 2020, she led the Commonwealth of Independent States (CIS) Disputes and Forensics practice for a Big Four firm in London.   

Ms. Malyugina acts as a quantum expert witness in arbitration and litigation, opining on matters of valuation and forensic accounting. She specialises in complex damages and is often instructed to consider allegations of fraud, mismanagement, premeditated bankruptcy and money-laundering.

Over her career, Ms. Malyugina has handled over fifty contentious cases, including many large disputes in Eastern Europe. She has acted as an expert in arbitrations under ICC, ICSID, LCIA, UNCITRAL and GAFTA rules. She has authored reports submitted in the UK High Court, courts in the British Virgin Islands, Cyprus, and other European Union countries, and in local courts in the CIS. She has testified in commercial and investment arbitration on multiple occasions. Her work has covered industries including energy and natural resources, financial services, infrastructure and construction, real estate and others. She has worked on issues arising in multiple jurisdictions, including Russia, Kazakhstan, Ukraine, Uzbekistan, Kyrgyzstan, Turkmenistan, Georgia, Armenia, Azerbaijan, Latvia, Lithuania, Estonia, Romania, Albania, Slovenia, Slovakia, Cyprus, Israel and the United Kingdom.  

Who’s Who Legal (WWL) ranked Ms. Malyugina as a Global Elite Thought Leader (under 45) in Arbitration 2023, where she was described as “an absolute superstar of heavyweight arbitration battles” who “knows her stuff inside out” and is “excellent in cross-examination and is cool under fire”. WWL sources describe her as “simply excellent, client friendly, and mak[ing] complicated issues and valuations easy to understand”, and “extremely knowledgeable about Russia and CIS markets”.  

Alongside her role as an expert in disputes, Ms. Malyugina also handles noncontentious advisory work, advising clients on financial and valuation aspects of transactions in the energy and natural resources sectors.  

Ms. Malyugina is equally fluent in English and Russian and can read documents in German and Spanish. 

Employment History

PWC London, Head of Russia & CIS Forensics Desk
Senior manager to director
2015 – 2020

PWC Moscow
Associate to senior manager
2009 – 2015


ACCA Qualified

Areas of Expertise


Moscow State University for International Relations
BSc (honours), International Commerce and Accounting, 2009


Who’s Who Legal: Future Leader

  • Arbitration 2021 – Expert Witnesses

“Absolute superstar of heavyweight arbitration battles”

  • Investigations – Forensic Accountants 2021

“She has great attention to vast amounts of detail and sees the critical points that make or break the quantum case.”