Moscow
MIN -12
MAX -8
Snow Showers Early / 10:59 PM / Traffic

VTB Gets U.S. License

VTB Capital said its New York unit received a license to trade stocks in the United States as part of its drive to gain market share from retreating Western competitors around the world.

State-run VTB plans to use its position as the largest organizer of bond and share sales in Russia as a "platform" for further expansion to "capitalize on the problems of the global banks," said Yury Solovyov, deputy chief executive officer of VTB Group.

VTB's U.S. unit, VTB Capital, has so far hired 10 bankers, including chief executive Paul Swigart, Solovyov said. It also has offices in London, Dubai, Singapore and Hong Kong.

(Bloomberg)

From the Web

Dear reader,

Due to the increasing number of users engaging in personal attacks, spam, trolling and abusive comments, we are no longer able to host our forum as a site for constructive and intelligent debate.

It is with regret, therefore, that we have found ourselves forced to suspend the commenting function on our articles.

The Moscow Times remains committed to the principle of public debate and hopes to welcome you to a new, constructive forum in the future.

Regards,

The Moscow Times