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Banking: ‘Sometimes there are benefits to being local’

By Catherine Belton

Published: April 17 2008 14:41 | Last updated: April 17 2008 14:41

In the dark days after Russia’s 1998 financial meltdown, it was hard to believe senior bankers would one day be arriving in Moscow in droves seeking a safe haven and source of growth away from crisis in the west.

Sir Win Bischoff, new chairman of Citigroup, became the most senior among them this month. He made his first visit to Russia in five years as Citigroup directs more funds at Russia as “a top 10 priority country”.

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