Russian LSE float could generate banking jobs in London

Those seeking banking operations jobs may be interested in the news that Russian firm Gazprombank is planning to launch on the London Stock Exchange (LSE).

Established in 1990 by gas specialist Gazprom, the financial services group is looking to float 25 per cent of its equity on the market, becoming the first bank from the country to make such a move, the Daily Mail reports.

According to the news source, more than £1 billion worth of equity could be involved in the listing and the company is now looking around for investment banks to provide advice, potentially generating new corporate finance jobs.

It is forecast to take place within the coming months, with cash raised invested in oil and gas markets and the global expansion of the bank, which is 62 per cent owned by Gazprom and is one of the largest such institutions in Russia.

Initially created to provide gas industry enterprises with banking services, Gazprombank has expanded to now cover an estimated three million private and more than 45,000 corporate clients.