Dubai a favorite destination as some Moscow-based bankers beat path to exit | Reuters
In the scramble by some bankers and financial industry executives to leave Moscow, Dubai is turning out to be a favorite location to land.
Some bankers at Moscow offices of financial institutions such as JPMorgan Chase & Co (JPM.N), Rothschild & Co and Goldman Sachs Group Inc (GS.N) have either left or are considering moving, as operating in Russia becomes increasingly difficult, several sources familiar with the matter said.
Goldman Sachs on Thursday became the first major Wall Street bank to say it was exiting the country following Moscow's invasion of Ukraine, while Citigroup Inc (C.N) said on Wednesday it was limiting operations. read more
Employees in Russia worry that they could get caught in the middle of rising tensions between Moscow and the West, sources said.
It was unclear exactly how many bankers have left Moscow since Russia invaded Ukraine on Feb. 24 and how long they might stay abroad.
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