Exclusive outtakes from industry leaders
Russia’s newly rich – opportunity or risk for wealth managers?
Russia’s growing class of mega-rich have so far attracted few private banks to set up shop in St. Petersburg or Moscow. Instead, you can occasionally overhear Russian on Geneva’s streets, known for their low-key bank buildings, boutiques and stores selling expensive, exquisitely-made Swiss timepieces. “We know there’s wealth generated in the country but we’re not sure how stable that is,” Reinhard Krafft, a private banking director at Sal Oppenheim said.