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Russian investment banks hit by economic and Ukraine woes

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Russian investment banking activity has been hit this year by the faltering economy and the Ukraine crisis, putting pressure on Moscow bankers to get creative in offering local firms different ways to raise capital instead of the standard fare of international share and bond issues.

John Mack to step down at Rosneft

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John Mack, the former chief executive officer of Morgan Stanley, said he’s leaving the board of Russian oil producer OAO Rosneft, a month after the U.S. sanctioned the firm’s CEO.

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