Sovcombank completed the acquisition of a minority stake in FinEx.

Sovcombank, a Russian bank, completed the acquisition of a minority stake in FinEx, a London-based investment management company. Financial terms were not disclosed. “By partnering with FinEx, we will be able to deliver a variety of collective investment options. We already offer an opportunity to invest in a hedge fund with focus on high-yield bonds and are now planning to expand our products range. This line of Sovcombank Wealth Management is highly relevant amid the steadily declining interest rates and other market and regulatory novels,” Alexey Panferov, Sovcombank Deputy Chairman of the Management Board.