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Gazprom will become Newton

Top managers of Gazprombank, which is under sanctions, have gained control in the brokerage service. They received an order, a share of 66%, in Gazprom Investments. The company will soon change its legal name and become Newton Investments LLC.

The names of the managers who took a controlling stake are not disclosed, but Gazprombank clarified that with the arrival of a new team, neither the business model nor the approach to customers will change. They also added that independence in decision-making will allow the service to diversify its business.

Gazprombank has been under EU and US sanctions since 2014, but after the start of a special operation in Ukraine, the bank came under new sanctions. The financial institution was banned from raising equity and debt. The US has also imposed personal sanctions on members of the Board of directors and top managers of Gazprombank.

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Author: Olga Paramonova

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