As Exiting Russia Becomes Complicated, Foreign Banks Like Citi Look To Hire People: Report

Russian arms of western banks, including Citigroup Inc C and Raiffeisen Bank International AG RAIFF are looking for staff as exiting the country becomes complicated, Reuters reported.
After Russia attacked Ukraine In February this year, western banks were prompted to remove foreign nationals from senior positions and look for ways to exit the Russian market.
But escalating sanctions have restricted their options, industry sources said.
Related: Citigroup Negotiating With Local Bidders For Its Russian Operations.
The central bank has resisted domestic calls to take over the running of foreign banks' local businesses, sources with direct knowledge of the matter have told Reuters. This could prompt depositors to pull out funds.
Last week, Deputy Finance Minister Alexei Moiseev said Russia would block the sale of foreign banks' Russian businesses while Russian banks abroad could not function normally.
One banking source said that foreign banks started hiring people after realizing that exiting Russia may not be easy.
Raiffeisen Bank posted 276 job openings in Russia in July, while Citi was looking for candidates to fill 84 vacancies in Russia.
Price Action: C shares closed at $52.42 on Wednesday.
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