Browder Beaten? Not Yet, As Russian Prez Gives Hope

William Browder has been kept out of Russia since November, but he’s not out of luck yet.

William Browder has been kept out of Russia since November, but he’s not out of luck yet. In fact, the founder and CEO of Moscow-based Hermitage Capital Management last Friday reportedly got Sens. John McCain (R-Ariz.) and Chuck Schumer (D-N.Y.) to ask President George W. Bush to raise his dilemma with Russian President Vladimir Putin as they hobnobbed at the G8 summit in St. Petersburg. Russia has never given a reason for banning Browder, nor is there any criminal action or investigation involving him. There is speculation that Browder’s outspokenness on corporate governance issues may have miffed some in Russia. Putin did say if an individual has not broken the law, he is eager to attract “decent and professional investors” who want to work in his country. “I fit squarely in that category,” Browder told Financial News. His prolonged absence, however, isn’t hurting Browder’s bottom line: Hermitage has returned almost 50%in the eight months since he got the boot.