Investment Banking

VTB Capital shells out £3.3m on 12 UK employees in 2025

The Russian bank’s wind-down in London is set to continue until 2029

VTB Capital’s London arm is being wound down over the next four years
VTB Capital’s London arm is being wound down over the next four years Photo: Richard Baker/Getty Images

Russian investment bank VTB Capital paid a handful of London employees £3.3m in the first half of 2025, as administrators continue the complex process of unwinding the firm three years after it was shuttered in the UK.

The bank, which announced plans to close its London operations shortly after Russia’s invasion of Ukraine in March 2022, has retained 12 key employees in the country as it continues to work with creditors and other financial counterparties.

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110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink