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Brexit set to push VTB's Europe hub out of London

Russia's VTB Bank has become the first big lender to say publicly it will move its investment banking headquarters out of the UK because of the disruption expected to be caused by the country's decision to leave the EU. Herbert Moos, deputy chairman and chief financial officer of VTB, said the board of the state-owned lender was considering several alternative locations for its European hub, including Frankfurt, Paris and Vienna and would decide later this year.
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