VTB Capital , Evercore to Work Together on Russia, U.S. Deals
Jason Corcoran (Bloomberg)
VTB Capital is teaming up with Evercore Partners Inc., the investment bank founded by former U.S. Deputy Treasury Secretary Roger Altman, to work on mergers and acquisitions between Russia and North America.
The alliance will allow the companies to “develop joint business opportunities for cross-border transactions and other projects involving Russian and North American companies, funds, government agencies, individuals and assets,” the Moscow-based investment-banking arm of Russia’s second-biggest lender said in an e-mailed statement today.
VTB Capital is continuing to build its international franchise outside of Russia and the former Soviet Union, Riccardo Orcel, deputy chief executive officer of VTB Group, said in the statement. The Russian bank signed an accord with Brazil’s Banco BTG Pactual SA in June to boost financial ties with Latin America.
The bank, which was the leading organizer of Russian debt and equity sales last year, said it is closing in on other international partnerships, Orcel said. “Asia is our next priority.”
VTB Capital is ranked 15th in Russian mergers and acquisitions this year, up from 42nd last year, data compiled by Bloomberg show.