Moscow Court Ousts Borodin

A Moscow court on Tuesday removed Bank of Moscow president Andrei Borodin from his position, even as shareholders were set to oust him next week anyway. A VTB executive, Mikhail Kuzovlyov, took over from Borodin as acting chief of Bank of Moscow, cementing VTB’s hold on the smaller lender. VTB recently bought about half of Bank of Moscow from City Hall for $3.5 billion in the country’s largest purchase […]