VTB Capital and CITIC Securities, one of China’s leading investment banks, have signed a memorandum of understanding. The main goal of this agreement is to pursue mutually beneficial co-operation in the field of investment banking activities, in particular, cross border M&A and investment opportunities between Russia and China. Additional areas of cooperation include capital markets, asset management, private equity investments, research and FX operations to capture trade flows between the two countries.
Alexei Yakovitsky, Global CEO at VTB Capital, noted: “I am delighted to have signed a Memorandum of Understanding with a firm of the quality and standing of CITIC Securities. The Asia-Pacific market is one of the strategic regions for developing VTB Capital’s business abroad. A partnership with CITIC Securities will enable us to significantly enhance our position and provide a larger set of services for our clients with interest in the Chinese market that is currently one of the most attractive markets for investing.”
Damian Chunilal, CEO Asia for VTB Capital, said: “CITIC Securities is one of the leading investment banks in China and we are extremely happy that VTB Capital will continue its business development in Asia in partnership with a company that has excellent knowledge of the local markets. The signing of this memorandum is the next important step in the implementation of VTB Capital’s strategy to expand its business beyond Russia and CIS and it will allow us to strengthen business and trade relations between the two countries”.
Riccardo Orcel, Deputy CEO of VTB Group and Head of Global Banking at VTB Capital, said: “We expect substantial opportunities from this partnership, which will leverage already high cross border trade flows. VTB Capital has demonstrated its ability to attract Chinese investors to Russia with some very high profile transactions. We look forward to building on this momentum with our new local partner.”
In October 2012, VTB Capital and one of the leading independent global financial consulting companies Evercore Partners (USA) announced a strategic co-operation partnership. The aim of this partnership is to carry out joint activities and cross-border deals between Russia and the North American market. In June 2012 VTB Capital and Brazil’s leading investment banking group BTG Pactual announced the signing of a strategic co-operation agreement. In accordance to the agreement, the two companies will look into opportunities of executing joint projects in both Russia and Latin America. This week VTB Capital and Invitalia, Italy’s national agency for inward investment promotion and enterprise development, have strengthened their cooperation by signing a Memorandum of Understanding.
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