JSC VTB Bank: VTB Group sells VTB Capital Inc. in New York, US.

VTB Group sells VTB Capital Inc. in New York, US.

VTB Group has agreed a management buy-out of VTB Capital Inc.  in New York, which will now become an independent company named Xtellus Capital Partners.

There will be no change to VTB product offering or level of client service on equity and fixed income markets. VTB Group and Xtellus Capital Partners have signed an agreement pursuant to rule 15a-6 that will see Xtellus Capital Partners act as a US chaperoning broker for the VTB Group. We believe that this arrangement will best allow us to continue to meet the needs of our clients.

We believe these changes in the operation platform will allow us to continue working with our Russian and international clients in the most efficient manner.