Michael Capone, head of equity sales at VTB Capital in Moscow, is leaving Russia’s biggest investment bank after six years.
“When I moved to Russia 10 years ago, I had a few hundred bucks and was staying on a friend’s couch,” Capone, 41, who is from Stoneham, Massachusetts, said by phone on Monday. “Now I’ve got some money in the bank and this crisis isn’t scaring me out of town. I’m just going to give something else a try.”
Capone, who joined the firm in 2009 from Goldman Sachs Group Inc., said his last day is Wednesday. A spokeswoman for VTB Capital in Moscow declined to comment.
Investment bank revenue from trading in Moscow has slumped since the U.S. and European Union imposed sanctions on Russia over the Ukraine conflict. VTB Group, Russia’s second-largest bank and VTB Capital’s parent, is among companies targeted by the punitive measures.