John Nicholls, deputy chief executive of HSBC Russia told a Russo-British Chamber of Commerce forum that the bank is planning to launch revamped private and retail banking operations in Moscow in coming months.

27.10.08

John Nicholls, deputy chief executive of HSBC Russia told a Russo-British Chamber of Commerce forum that the bank is planning to launch revamped private and retail banking operations in Moscow in coming months. A retail branch in St Petersburg is also planned for 2009.

HSBC Private Bank is one of a number of international private banks to announce new or expanded Russian operations this year. Swiss player Julius Baer opened a Moscow office in March; Merrill Lynch announced intentions to open private banking offices later this year; and in July Deutsche Bank opened a second private banking office in St Petersburg, to complement its Moscow office.

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