02.05.2013 - Qatar turns to Orcelís UBS for VTB bank deal
Russia's second largest bank VTB yesterday announced that a group of sovereign wealth funds has backed a $3.3bn (£2.13bn) fundraising that will take the governmentís stake in the lender down from 75 per cent to 60 per cent or less. In a surprise to investment bankers, VTB used Citi and its own investment banking department to advise on the deal rather than UBS, which had been expected to win the mandate. Andrea Orcel, head of the UBS investment bank, has previously enjoyed a close relationship with VTB and most bankers expected him to get a role...............................................Full Article: Source
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