Barclays Becomes Bank to Russia Money Fund After JPMorgan Exits
- Billionaire Vladimir Potanin was sanctioned by UK last year
- Goldman also offers banking services to Potanin Foundation
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Barclays Plc has stepped in to support a UK charity set up by Russia’s richest sanctioned billionaire after JPMorgan Chase & Co. severed ties with the fund last year.
The British lender is now listed as a provider of banking services for the London-based branch of Vladimir Potanin’s namesake foundation, according to filings. Goldman Sachs Group Inc. has also been offering banking and investment advisory services to the Potanin Foundation, which had about $117 million in total funds at the end of last year, the filings show.