Goldman Sachs thriving in Russia

RUSSIA / FSU POLITICS - In Brief 02 Apr 2021 by Alex Teddy
On April 2 Goldman Sachs announced that 2020 was a year of record profit for it in Russia. There were several major corporate deals.Investment banking, global markets and the asset management arm all grew significantly in 2020. The bank made a total profit of USD 9 million in Q1, Q2 and Q3 in 2020. The breakdown of these statistics was not provided. Despite the rosy news Goldman Sachs is relatively small in Russia. The bank's global profit was USD 9.5 billion in 2020.Goldman Sachs was involved in the Ozon IPO and bond deals that involved Yandex, Detsky Mir and AFK Sistema. Market volatility has sometimes been a boon for investment bankers. Trading equities allowed for handsome profits after the oil price crash in Q2 2020.

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