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VTB Teams up With Chinese Brokers

VTB Capital and China's CITIC Securities have teamed up to cooperate on investment banking activities between Russia and China, with particular focus on mergers and acquisitions.

VTB Capital, part of Russia's second-largest bank, VTB, said Friday that it had signed a memorandum of understanding with CITIC, China's biggest listed brokerage, that will see the pair target cross-border M&A and investment opportunities.

Additional areas of cooperation include capital markets, asset management, private equity investments, research and foreign exchange operations to capture trade flows between the two countries, VTB said in a statement.

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