Russia’s newly rich – opportunity or risk for wealth managers?

October 9, 2007

geneva.jpgRussia’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 moscow.jpgoccasionally 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. 

No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/