He just hates giant American banks. If you’re transacting business in Riga, Cairo or Tokyo, he’s listening.
Most recently, he joined a group of western private-equity investors that is buying 75% of Latvia’s Citadele Bank for €74 million ($91 million), a deal that has generated some backlash….
“Mr. Volcker doesn't comment on his personal investments,” Anthony Dowd, a spokesman for the former Fed chief, wrote in an email to The Wall Street Journal. “I can say, though, that he is only a small passive investor in the Citadele transaction.”