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5 November 2012
Asia beckons for VTB Capital


Financial News (Великобритания)

Russian state-owned bank VTB Group is looking to develop its growing network of alliances with investment banks across the globe, this time focusing on Asia.

Riccardo Orcel, deputy chief executive of VTB Group, said: "[VTB Capital's] next focus is Asia, where we plan to establish another alliance to service our clients that look at growth opportunities in the region with strong interest."

VTB Capital, the investment banking subsidiary of VTB Group, is currently working on 18 cross-border M&A mandates, according to Orcel. To conduct business in China, non-domestic firms need a joint venture with a local business. Firms such as Citigroup and Morgan Stanley already have similar set-ups.

Last week. VTB Capital announced that it had signed an agreement with US-based Evercore Partners to develop cross-border business between Russia and the US.

In June, VTB Capital and Brazilian bank BTG Pactual agreed to pursue "opportunities" between Russia and Latin America.

According to data released last week, advisory bank Greenhill has also registered with the Hong Kong Securities and Futures Commission to launch a legal entity called Greenhill & Co Asia Limited.

Simon Lam, principal, who focuses on private capital advisory, is based in Hong Kong, according to Greenhill's website.

Greenhill already has an office in Tokyo. Its last major deal in the region was in July, advising UK media firm Aegis on its £3.16bn sale to Japanese advertising giant Dentsu.

Global investment banking fees in Asia-Pacific fell 21% over the first nine months of the year, according to data from Thomson Reuters. However, in Japan they increased 13%, and in south-east Asia by 5%.

Greenhill declined to comment.
Corporate Communications VTB Capital