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Russia's Inkombank said Tuesday it had set up a new investment banking subsidiary called Inkom Capital which would also pursue strategic acquisitions on behalf of the bank and its clients.
Inkombank, the second largest commercial bank in Russia, said Inkom Capital would provide a full range of investment banking services.
"We hope to capitalize on the significant securities dealing experience and extensive branch network of our parent to develop new investment vehicles for our clients," Victor Paul, former manager of Russian equity sales and trading at Morgan Grenfell and now an Inkom Capital vice president, said in a statement.
Inkom Capital would develop an asset management business to help smaller Russian investors to participate in the domestic securities market, the company said.
Inkombank Investment Banking Set
18 October 1995
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