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Obscure banks are hiring

Would you work for Union Bank India? How about the International Bank of Azerbaijan? Or Russian institutions like Troika Dialog, VTB Capital, Uralsib, or Renaissance Capital? If not, you’re definitely missing out: emerging markets banks are trying very hard to make the most of Western bankers’ disaffection. They are also said to be paying very good money.

VTB Capital is advertising for everything from financial controllers to traders, sales traders, salespeople, commodities professionals, corporate finance professionals in M&A, and ECM coverage bankers to fill an ambitiously large new office in Cornhill.

A spokeswoman for VTB in London says the jobs are located in both the City and Moscow, but she isn’t entirely sure whether the bank’s interested in hiring bankers currently based in London for roles in Moscow. “We have some new positions opening up in several different locations. I can’t say whether we’d move people across.”

Russian investment banks like Troika Dialog, Renaissance Capital and Uralsib are all in the process of expanding existing sales and trading teams.

According to the Financial Times, Union Bank India, a bank 60% owned by the Indian government, also has aspirations to develop an investment banking operation in the UK.

And the International Bank of Azerbaijan is preparing to take on New York.

We can’t say how liberally the International Bank of Azerbaijan or Union Bank India are likely to line your pockets, but Russian banks are allegedly so desperate for staff that they’re willing to pay two-year guaranteed bonuses.

“There’s a lot of demand from Russian investment banks in London right now,” confirms Elvira Muratova at search firm Napier Scott: “They’re looking for structured products people, equity sales professionals covering pan-European clients, private equity professionals, investment bankers and lawyers.”

Comments (15)

  1. VTB is an “obscure” bank? Wtf?

  2. Russian banks are not obscure. Nor are they a good bet for your career. The Russian economic boom is built upon artificially high commodity prices. What will happen to these banks and these jobs when commodity prices fall?

  3. Some people face the choice of being laid off or going into an obscure bank with a 2-year guaranteed pay check. Short term versus long term – maybe. But never forget that it might be better to have two years guaranteed in the pocket while bonuses will continue to suffer over the next years in western markets.

  4. I agree, people should instead concentrate their careers around banks which base a large part of their business on repackaging mortgages???

  5. I used to rely on the bank of mum & dad!

  6. I still do John! No-one wants to give this poor graduate a job.

  7. who tf wants to work for dodgy banks ridden with corruption

  8. yes, trye, I am from india and banks over there are hiring left,right and centre…. am going back guys… am fed up here

  9. Yes maybe there is some corruption surrounding Russian banks, but US Investment bank CEOs who have done one of the worst jobs for their shareholders and employees in the last 1-2 years have walked away with $100+ million severance paychecks and left thousands of people out of job. So we don’t have to go to Russia to see corruption and injustice…

    By the way commodities will be in demand as long as China and India are increasing their infrastructure, which will definitely not stop in the next few years… The bankruptcy of the SemGroup caused some of the major long positions to be taken out of the oil speculation plus weak European macro environment helped oil to moderate 20%. So what ,it will still stay in the $80-150 range for quite some time.

  10. It is indeed obscure to put VTB, Troika and Renaissance Capital in an ‘obscure banks’ list. I work for one of these banks and the firm has been making money like crazy when most ‘tier 1’ banks write off billions. My bonus was 70% of base last year and i work in Risk…

  11. so where are the job postings? there is nothing at their websites, just checked, what u talking about??

  12. I have lived in moscow since late last year. These numbers/stories about russian banks paying millions and 2y guarantees are grossly exaggerated, especailly by headhunters like Elvira Muratova. There are a FEW postions (head of Treasury, head of sales, head of derivatives trading…) that lock in for 2 years, sure, but there are not many. RenCap is firing people in deriv sales not hiring. Troika has long stopped hiring for lots of areas, and yet these headhunters keep lying, to get peoples’ CVs and spread rumours. VTB may be hiring people but it is alos leaking many others, and one has to wonder if they are so generous why are people leaving? I personally know senior and mid-level peopel in VTB who left, recently, to go work for corporations or other banks. As far as “Banks of Azerbaijan & Co” are concerned, of course there is nothing wrong with that, but what exactly is one supposed to do there? they have no capital market activity (by western standards…)…. Be careful with headhunters, they love exaggerating.

  13. The VTB jobs aren’t advertised on their website. You need to email your CV etc. direct (recruitment@vtbcapital.ru).

    Someone who knows Reply
  14. Vito Corleone’s comments are quite revealing, in more than one way. Apart from the muscovite-insight, we learn that there cannot be ‘banking opportunities’ if the ‘capital markets activities’ are not upto the western standards!!! A typically locked-in situation, indeed!!! Ever wonder why Barclays would have invested so much in a south-african bank? Or why Standard Chartered has their largest network in Africa? And, do you think these guys got hit when your ‘capital market activity’ became something else? Wake up, guys.

    Sridhar Kalyan Reply

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