Since the west slapped sanctions on Russia over its incursion into Ukraine, Andrey Solovyev, global head of debt capital markets at Russian investment bank VTB Capital, has redoubled his efforts abroad in a bid to keep his bankers in work at home.

Talking to Financial News in Moscow this week, Solovyev said: "Everyone is looking at the situation and trying to make choices. Not to shut down the business, but to cut business or do exactly what we're doing: try to look for alternatives."