Russian state-owned bank changes name and ownership structure of its US subsidiary to have foothold in the US market

Russian state-owned VTB financial group sold its US subsidiary, VTB Capital Inc, reports Interfax news agency, citing the bank’s press release. “The company was renamed to Xtellus Capital Partners and became an independent player in the stock market and fixed income operations,” the information agency stated.

The subsidiary was sold to the former management of VTB Capital Inc.

An American company will act as a broker-dealer for the Russian VTB group in the US market that would enable clients of the bank to preserve access to its investment solutions in the US market.

  Russia, USA, VTB Bank

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