This looks bad for asset management jobs in Moscow
Some bad news today if you're working in asset management or private equity in Russia: foreign investors appear to be getting nervous.
The Bank of Russia reports that net private capital flowing out of the country hit $35.1bn in the first three months of 2012 compared with $19.8bn over the same period of 2011. In 2010 only $34.4bn flowed out of the company during the year as a whole.
The outflow comes despite Moscow's attempt to establish itself as a leading global financial centre and reflects concerns about the country's political situation.
“Media coverage from Russia is almost uniformly negative in the US,” Mac Elatab, an investment analyst at TrueBridge Capital Partners, told the Telegraph.
If the situation continues, Russian jobs in asset management or private equity could be at risk. However, Alexey Ulukaev, the Deputy Chief of the Central bank of Russia, is predicting the outflows will reverse as international investors become happy with the new Russian government.
