Today, VTB announced that the process of state registration of VTB Capital – the new legal name of the Investment Business of VTB Group – was successfully accomplished on 27 November. “JSC VTB Invest” which used to be the basis for the development of the Investment Business of VTB Group has been successfully re-registered as CJSC “VTB Capital”.
All parts of the Investment Business of VTB Group worldwide, including Moscow, London, Singapore and its upcoming new businesses and offices in the world’s key financial centers, will all ultimately be operating under the VTB Capital name.
Renaming has started with the Russian legal entity, which is the Headquarters of the Investment Business in Moscow. VTB Bank Europe plc, the Investment Business legal entity in London and Singapore, which is a part of VTB Capital will also use the VTB Capital name after all the necessary legal procedures are completed and local approvals are obtained.
ZAO “VTB Asset Management”, part of Investment Business of VTB Group, will keep its registered name until further notice.
Andrey Kostin, CEO - Chairman of the Board, VTB, said: “When we announced the creation of VTB’s Investment Business earlier this year, we were sure that the time would come to realise the potential of the Russian financial system and the exceptional skills of our team in becoming the bridge between Russian capital, Russian opportunities and the world markets. While the situation in the international markets is stormy for investment banking, we have the people, the projects, the business strategy and the balance sheet to bring VTB Capital to fruition and to succeed,. VTB Capital is becoming an ever more vital player, backed by the stable and confident positions of the VTB Group in the international financial markets”.
Yuri Soloviev, Global CEO of VTB Capital, added: “Within a short and very challenging timeframe, we have built up one of the strongest teams in the market, an achievement that is probably without precedent in the investment banking business. With our hub in Moscow, and an active presence in both Europe and Asia, we can now provide the full spectrum of investment banking services. We are delighted that all the companies within VTB Capital, whether in Russia, the UK or Singapore, will start operating under a single name. This will help to promote our business in all the regions where it is present today and in those where it will be launched in the future.”
VTB Group is a dynamic international financial group. VTB Group geography is unique. In addition to the CIS, its activities cover the countries of Western Europe, Asia and Africa. VTB Group members are governed by a shared approach to customer service and operate under a single brand.
VTB Capital (www.vtbcapital.ru) – the Investment Business of VTB Group – has offices in Moscow, London and Singapore. It focuses on arranging operations in the debt and equity markets, advising clients on ECM and M&A deals in Russia and abroad, and developing private equity, as well as handling operations in the global commodities markets and asset management. The headquarters of VTB Capital is located in Moscow.
VTB Bank Europe plc is part of VTB Capital.
? VTB Bank Europe plc is a leading provider of financing to large- and medium-sized Russian companies.
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? As of 30 June 2008, it had assets in excess of GBP 2 bn.
? VTB Bank Europe plc is incorporated in England and Wales and is a UK-registered, Russian- owned bank.
? VTB Bank Europe plc is authorised and regulated by the Financial Services Authority.
? VTB Bank Europe plc has offices in London and Singapore.