Societe Generale Securities Services (SGSS) has overhauled its Russian team after a fall in profits at the bank’s Russian subsidiary in the second quarter this year. The risk of trade sanctions are thought to have hit profits in Russia, and the ratings agency Fitch has downgraded the Russian bank subsidiary’s credit rating from BBB+ to BBB.
Rosbank, the subsidiary through which SGSS operates in Russia, changed its governance structure in June. Ulan Ilishkin, a deputy chairman of the management bo
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