BANKING: Russia’s Alfa keeps Cyprus branch

Alfa Bank, the Russian lender that boasts billionaire Mikhail Fridman as its largest shareholder, is shutting its New York capital markets office and cutting headcount in London, “which is a reflection of the level of interest in the Russian market,” said Moscow-based spokesman Leonid Ignat. “We will be maintaining our London office, but there will be some adjustments.”
Ignat said the staff cuts will not extend to Alfa’s bank in Cyprus, which employs 40, according to Bloomberg.