Switzerland’s DuLac said individual named in UK sanctions list has left firm

By Elizabeth Howcroft

LONDON (Reuters) – Swiss asset manager DuLac Capital said on Wednesday that an individual named in Britain’s latest round of sanctions against Russia had resigned from his role as head of its Russian office several months ago.

DuLac in emailed comments also said that its Moscow office never carried out financial transactions in Russia.

The British government on Tuesday imposed sanctions on 25 more individuals and businesses it alleges are helping Russia in its war against Ukraine. The list included Anselm Oskar Schmucki, citing involvement in “obtaining a benefit from or supporting the Government of Russia by carrying on business in a sector of strategic significance, namely the Russian Financial Services Sector.”

“Mr. Schmucki is the former head of our Russian representative office. He has resigned from this role and we have terminated our relationship with him,” Andreas Peterlik, a partner at DuLac Capital said, adding that Schmucki’s resignation was around late 2022 or early 2023.

Peterlik said that DuLac Capital only operates in Switzerland and its Russian representative office was established purely for general liaison purposes.

“DuLac Capital Ltd was thus never involved in any alleged dealings mentioned in the OFSI (Office of Financial Sanctions Implementation) statement,” he added.

Schmucki, who Reuters was unable to reach for comment, was also sanctioned by the U.S. in May.

(Reporting by Elizabeth Howcroft; Editing by Sharon Singleton)