Citigroup will reduce its presence in Russia

Citigroup is cutting its team of analysts in Moscow, Bloomberg writes , citing sources familiar with the situation. Two out of four specialists will be fired, including consumer market analyst Brady Martin, who has worked at the bank for more than 8 years.

More. The second analyst could be transferred to the bank's London office, one of the sources said. The ratio of foreign banks to the Russian market has deteriorated due to weak economic growth and the threat of sanctions, the agency said.

Context. Earlier it became known that one of the most successful foreign investment banks, Morgan Stanley, was curtailing its presence in Russia, we wrote about this in detail here .

Artem Gubenko