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.”