Wednesday, May 22, 2013

Russian banker has his eye on Europe

Igor Kim snapped cast-off assets from foreign banks pulling out of Russia and now the banker says he wants to expand into Europe.

Kim, 47, emerged with his partners as an asset consolidator after the global crash of 2008 forced Western banks to downsize, buying the Russian commercial banking units of Barclays, WestLB, Morgan Stanley and Santander.

"We are looking at different assets, including in Central and Eastern Europe," Kim told Reuters exclusively this week.

http://www.reuters.com/article/2013/05/22/us-russia-banks-kim-idUSBRE94L07P20130522