| Roland Nash | ||||||
Until the 1998 crisis big business in Russia was all about the financial-industrial groups (FIGs). Several died in the crisis, but the survivors still play an important role and have been forced to change their ways. At the same time a new breed of commercially-minded and successful industrial groups, the new industrial groups (NIGs), which have made their money by more traditional (and honest) means, have joined them.
“There is a big legacy issue,” says Erik Kraus, head of strategy at NIKoil, a Russian investment bank.
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