trending Market Intelligence /marketintelligence/en/news-insights/trending/u4yh9nmhzitjylxsvczlsq2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

VTB may move European HQ out of UK, CFO says

Municipal-Run Fiber Tops 280000 Subscribers In 2018

The Essential Conference 2019 Highlight Reel

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next


VTB may move European HQ out of UK, CFO says

JSC VTBBank is looking to move its European hub out of London followingthe U.K.'s decision to leave the EU, the FinancialTimes reported Oct. 11, citing the bank's deputy chairman and CFO, HerbertMoos.

The Russian bank is scaling down plans for its London officeand is looking at potential alternative locations for its Europeanheadquarters, including Frankfurt, Paris and Vienna, with a decision to be madelater in 2016.

Factors the bank is considering include regulation, talentavailability and fiscal policy, Moos said. VTB will maintain London as an"important presence."

Moos said the ECB would likely not allow it to have critical functionsperformed outside the EU. VTB has several hundred employees in its Londonoffice, where it performs some centralized functions such as global anti-moneylaundering and compliance units, the FTreported.

U.S. and EU sanctions on Russia have led to far lessborrowing of dollars by large Russian companies, which has led to VTB's foreignexchange reserves growing significantly. The bank is converting excess cashinto rubles.

Moos said the sanctions have led VTB to focus more on Asia.It is expanding in India, China and Vietnam.