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. Last Updated: 07/27/2016

Jordan's Work Permit Revoked




Russia has revoked the work permit of prominent U.S. banker Boris Jordan to head Bank MFK, a top Russian investment bank, a copy of a Federal Migration Service order showed Wednesday.


Jordan, who heads Renaissance Capital and Bank MFK, due to merge to form Russia's biggest investment bank, was unavailable for comment.


The order, from the FMS Moscow branch, followed an investigation at Bank MFK in November, the order said.


The move would be just the latest hurdle in a bureaucratic obstacle course Jordan has run in the last 1 1/2 years.


Jordan's visa was revoked in October for what authorities described as "technical reasons," but what Renaissance spokesmen and reformer First Deputy Prime Minister Boris Nemtsov said was linked to business rivalries.


The visa incident followed a similar one a year earlier.


Jordan helped put together the consortium, led by close Renaissance ally Uneximbank, which won a sell off for a sought-after state telecom asset.