By Andrei Skvarsky
Russian wealth manager Third Rome last month opened an office in Zurich, to be overseen by its founder Andrei Movchan.
Third Rome, set up in May 2009, has around $300 million of asset under management and plans to boost its asset base to $700 million by the end of the year.
Russian high-net worth clients have traditionally preferred to stash their money in Swiss bank accounts although some large international private banks have been setting up onshore in Moscow in anticipation of money being repatriated.
A Third Rome spokeswoman in Moscow confirmed to Emergingmarkets.me it had opened its office in Switzerland last month.
Third Rome is registered as a member of OAR-G, the Swiss self-regulated body for asset managers.
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