• Investment Banking

Ex-top Moscow banker slams Russian aid to billionaires

The former head of Merrill Lynch’s Russian business, who helped build the US bank's presence in the region by forging close relationships with high-profile oligarchs, has scolded the government for bailing out billionaires at the expense of the taxpayer.

Sergei Aleksashenko, who was instrumental in building Merrill Lynch's Russian business before leaving the US bank last April, is one of five signatories of an open letter, which accuses the Government of looking after the interests of the wealthy over ordinary citizens.