VTB Capital to boost Hong Kong team fivefold

By Andrei Skvarsky.
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VTB Capital plans to boost its Hong Kong team to between 30 and 35 from today’s seven within the next year or two.
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The Hong Kong office of the brokerage arm of Russia’s VTB Group would be its northeastern Asian hub, Interfax cited Atanas Bostandjiev, chief executive of VTB Capital’s London unit, as saying.
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VTB Group also has an office in Beijing and branches in Shanghai and New Delhi.
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Last month VTB Group unveiled a plan to make 1,500 employees or one-third of its personnel redundant by the end of 2013 in seeking to cut its maintenance costs by between 20% and 25%.