Despite tough markets, a new wave of interest in Russia

Barclays’ decision this week to buy a small Russian bank for £373m is just the latest in a stream of acquisitions and other moves by leading investment banks to bulk up in Russia. Small wonder: it is the only bit of Europe that resembles Asia in terms of rapid economic development and big deals galore. But there are no easy pickings — some firms have found it much easier to make headway in Russia than others and with stockmarkets uneasy, this year may be a tough one.