In August, almost six years after Russia's infamous financial meltdown, Deutsche Bank announced plans to launch its DWS Investments business in Moscow. The Frankfurt-based bank said the unit, which manages €130bn ($156bn) in retail assets, would recruit fund managers and begin managing money from Moscow for Russian clients.

Elena Loginova, chief executive for DWS's new Russian venture, said: "We see Russia as a high-growth economy that is maturing rapidly. It's becoming better as a marketplace and, of course, there is an interesting client base."