Doing Business in Russia
Russian Market Spotlight:
Russia's admission to the World Trade Organization in 2012 and its position as the largest market in Europe with 141 million people are creating growth opportunities for mid-sized businesses. After a decade of turbulent adjustment following the transition to a market economy and another decade of economic growth driven by natural resources - its natural gas and oil reserves are among the world's largest - Russia now strives to move from a middle to a high income economy.1 To drive toward that goal, Russia is pursuing policies to diversify exports and reduce its dependence of overseas sales of petroleum products.2 By 2020, for instance, it aims to more than double its Information Technology exports to US$11BN.3
Participating in Russia's market-driven export sector requires commercial banking solutions that mitigate risk, optimize cash flow and simplify international funding requirements. Many of Russia's mid-sized companies that are expanding domestically - or have partners, affiliates, suppliers or customers in other countries - are working with Citi Commercial Bank (CCB) for those solutions. Moreover, CCB Relationship Managers have a comprehensive understanding of Russia's complex regulatory and legal environment, enabling them to act as Thought Partners. CCB's unrivaled combination of global reach and local expertise also provides its clients with experienced Relationship Managers in Russia's leading trade partner countries, including China and Turkey.
1 World Bank. 2011. Russia : Reshaping Economic Geography. Washington, DC. © World Bank.
2 AJG Simoes, CA Hidalgo. The Economic Complexity Observatory: An Analytical Tool for Understanding the Dynamics of Economic Development. Workshops at the Twenty-Fifth AAAI Conference on Artificial Intelligence. (2011)
3 Russia to Double IT Exports to $11 Billion to Cut Oil Dependence. Bloomberg, Oct. 16, 2013
About Citi Commercial Bank Russia
Citi opened its first Russia office in 1993 and has since become a leading international bank serving more than 3,000 corporate clients that represent all of Russia's leading industrial and business sectors. AO Citibank Russia, a full subsidiary of Citi, provides mid-sized businesses with global commercial banking services and solutions from offices in Moscow, the capital city and financial center of Russia, and St. Petersburg, a major trade gateway and Russia's industrial center specializing in oil and gas trade.
Ranked by Forbes magazine as the Most Reliable Bank in Russia in 2013 and 2014, AO Citibank Russia is the bank of choice for leading Russian-based and international companies and their subsidiaries. AO Citibank Russia has received recognition from other industry sources for its unsurpassed ability to deliver innovative, customized commercial banking solutions that simplify cash and liquidity management, treasury services, online FX trading, trade services and financing.
CCB Russia Country Business Head
Marcin Wozniak became a head of Citi Commercial Bank in Russia on April 1st, 2017. Marcin has been with Citi for almost 15 years and held a variety of positions in relationship teams in Poland and the UK working with both local and international customers. In 2012 Marcin has been appointed the role of Citi Commercial Bank International Desk Head in London, where he was responsible for building the cross border proposition for Citi’s mid-size customers in EMEA with the biggest focus on Western Europe. He managed to develop the International Desk into an integral part of the global value proposition of EMEA Citi Commercial Bank that supports our clients in Western Europe in their global expansion. Marcin also played a leading role in building the Citi’s mid-size corporate business in the UK, which led to the launch of UK Citi Commercial Bank business in 1Q 2017.
Prior to Commercial Banking, Marcin was a Banker in Global Subsidiaries Group Poland working with customers belonging to large multinationals.
Marcin holds a Master’s degree in Banking from the University of Economics in Poznan and has a wealth of diverse experience in banking as well as his ability to build and expand startup businesses, which will help Russia to capture and execute its growth strategy.
‘We use our Citi’s global network to help our clients grow their businesses and successfully expand to foreign markets, while we continue our mission to be a trusted advisor to our clients in a challenging and dynamic Russian market. Our highly qualified and talented team of professionals at Citi Commercial Bank helps our clients to achieve their business goals and protect their interests on both local and global scale’
- Marcin Wozniak