Domestic players such as VTB want to join in
Although the process of western players acquiring Russian investment banks has already begun – UBS, through its Brunswick acquisition, and Deutsche Bank through its UFG tie-up have been the trailblazers – the pace of activity is certain to pick up.
A done deal?
Ownership of two obvious candidates, Troika Dialog and Aton Capital, might well have changed hands by early 2007. JPMorgan is rumoured to have won the race to acquire a stake in Troika Dialog, the country’s oldest investment bank.
“I heard that it’s a done deal,” said the head of research at a Russian investment bank of the long-mooted tie-up as Euromoney went to press. Citigroup is believed to have been another potential suitor for the firm, with Nomura also mentioned as having shown interest.
If the deal takes place, it will complete a...
