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A major Russian bank is turning its back on London because of Brexit

VTB, Russia's second biggest bank, is moving its European headquarters out of London in response to Brexit, according to a report in the Financial Times. VTB, which is 61% state-owned by the Russian government, is considering a range of European cities to host its EU base. "We did have bigger plans for the London office, but after Brexit we are scaling them down and building them up elsewhere," Herbert Moos, VTB's chief financial officer told the FT in an interview.
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