| London’s Evening Standard newspaper broke the story. The latest in a long line of London-based merchant banks was to lose its independence to a large continental European commercial bank. But this one’s assets didn’t include anything like the butlers of Schroders or the fine art of Rothschild. In fact it was devoid of that sort of upper-crust City culture, having received its securities licence only 18 months earlier. What’s more, it was best known for its activities in Russia, despite having nearly half its staff in London. |
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