Rothschild is looking at taking on new hires for its Russian operation later this year, bucking the trend for big Western money advisers to scale back, partly because it feels it can make money out of the struggling economy. Giovanni Salvetti, head of Rothschild operations in Russia and the Commonwealth of Independent States, told Reuters he believed the firm could perform well advising on debt restructuring, asset swaps, and distressed sales - all activities that can see an upturn in times of economic hardship. Rothschild's financial advisory group has nine bankers in Russia, Salvetti said, some of whom were hired recently from Deutsche Bank, which has been scaling back its Russia operations.
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