Tuesday, February 13, 2007
Moscow to Become Europe's Second-Largest Financial Centre
Moscow to Become Europe’s Second-Largest Financial Centre
Stephen Jennings, CEO of the Renaissance Capital Group, said Russia is the best developing market in the world. He believes that despite current problems, Moscow will eventually become Europe’s second-largest financial centre.London is the financial capital of Europe, Jennings said, but Moscow will surge ahead of Frankfurt, Paris and Milan in all segments of the financial market. “We cannot now imagine the scale of change,” he said, “as the process will last not five or even 10 years, but 15-20 years.”
Stephen Jennings, CEO of the Renaissance Capital Group, said Russia is the best developing market in the world. He believes that despite current problems, Moscow will eventually become Europe’s second-largest financial centre.London is the financial capital of Europe, Jennings said, but Moscow will surge ahead of Frankfurt, Paris and Milan in all segments of the financial market. “We cannot now imagine the scale of change,” he said, “as the process will last not five or even 10 years, but 15-20 years.”
