VTB Capital, the Russian investment bank that helped bring the high-profile initial public offer of Rusal to Hong Kong, is planning to hire up to 20 front-office bankers this year for a new operation in the special administrative region. Yuri Soloviev, global chief executive, told EuroWeek that he wants to develop the firm’s business in the region to boost two-way trade flows between infrastructure-poor Russia and commodity-poor Asia.
We will begin with relationship bankers and a salesforce and add a trading capability when we start to see the flow, said Soloviev. VTB already has a temporary Hong Kong licence, which it obtained for the Rusal IPO, and is hoping to gain a permanent licence soon. It
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