Aton Capital, the Moscow-based brokerage founded by former Kremlin adviser Yevgeny Yuryev, has stopped sending clients its daily research note.
The company will focus on industry analysis and coming up with “trading ideas” and the main news, Peter Westin, Aton’s chief strategist, said by phone. “There is so much research out there, and we are going to be more focused,” he said.
Brokerages in Russia, including Renaissance Capital and IFC Metropol, have been cutting staff, citing shrinking margins. ING, the biggest Dutch bank, said in October that it will close its Russian equities unit, while Milan-based UniCredit SpA said in June that it would shutter its securities operation there.
BNP Paribas SA, France’s largest bank, had been in talks with Aton to take a stake late last year, according to two people with knowledge of the matter.