Ex-adviser to Russian government: “zero prospect” of Moscow being international financial centre | Emerging Markets, Emerging Views

Tim Reucroft, a London-based consultant who has advised Russia and other emerging markets on capital market infrastructures, has said the Kremlin’s plan to turn Moscow into an international financial centre has “zero prospect” of materialising.

An IFC is all about cross-border flows, and so the Russians are wrong to be focusing on the domestic infrastructure, Reucroft, director of research at the Thomas Murray cash and securities risk management firm, argued at a conference in Moscow early this month and in a subsequent emailed interview with EmergingMarkets.me.

Reucroft advised the Russian government on the IFC project back in 2008 and designed an architecture for cross-border financial business in Moscow and St Petersburg.

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