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Russia & CIS

PSB: From Undercapitalized Commercial Bank to Russian Military Bank

Promsvyazbank, one of a number of large private lenders to be taken under the government wing over the past year, is set to assume an unusual role of the Russian military’s main coffer. Manulife senior analyst Richard Segal considers the prospects of such a specialized lending institution in a challenging landscape of sector consolidation and international sanctions.

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Richard Segal is a senior investment analyst at Manulife Asset Management, working with its Emerging Markets Debt team. He focuses geographically on credits in Central Europe, the Middle East and Africa. Prior, Richard spent four years at Jefferies International in London. He has a degree in economics from MIT, having joined Manulife in 2015, and has spent most of his career analysing emerging markets, having earlier built sovereign risk and term structure models.

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