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Banks lock horns in Russia

Top rainmaker at centre of recruitment battle as rivals slash capital markets fees to secure deal

Investment banks are offering top rates of compensation and undercharging clients in the fight to hire talent and win business in Russia.

The scramble to recruit Moscow-based investment bankers intensified last week as it emerged local Alfa Bank tried to lure the head of UBS's Russian business with a guaranteed $20m (€15.4m) over two years.

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