After the colossal meltdown of the Russian economy a while back, the top investment banks have slowly reappeared in the country. Goldman Sachs has been burned before but now seems to be cautiously recommitting to the country. It employs about 80 in Moscow. It has joined the local exchanges and is doing some lending. Merrill Lynch also seems to be out front. But Lehman Brothers seems newly serious. Lehman is close to hiring--if it has not done so already--Nicholas Jordan, who led Deutsche Bank through the malaise. He is said to have close links to the Kremlin. Merger activity is heating up, that's for sure. We'll likely see more bankers set up shop in Moscow, rather than London. However, risks abound and fees are low. So we'll have to see.

For more:
- here's an article from the Financial Times