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High Hopes for Russia Are Fading on Wall St.
Goldman Sachs has an office in Moscow. So do Citigroup and Morgan Stanley. JPMorgan Chase and Bank of America Merrill Lynch, too. Russia was supposed to be a growth market for Wall Street. It is quickly turning out to be a potential financial nightmare and a political hot potato. With the deteriorating relationship between the United States and Russia over Ukraine, and a series of punitive sanctions clearly slowing Russia’s economy, Wall Street banks are facing a conundrum: Should they stay or go? Wall Street’s involvement with Russia has long been a source of controversy. Some critics contend that Western banks ... (full story)
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