Andrey Kostin: private Emperor of commodities

Why the head of VTB Andrey Kostin creates a unit to trade in commodities.
27.10.2016
Versia
Origin source
VTB Bank acquires full Commodities division. Now traders state bank will be able not only to participate but also to influence the course of international trade resources. In the next stage, the raw materials will be the empire of private.

market Director

At the end of this year at the Court of VTB Board of Directors will present a new strategy for the development of the group. But it seems that it has already begun to be realized. What is evident from the changes not only in the geography of the headquarters, but the overall structure of the business. Investment unit of VTB - the company VTB Capital, actively assembles a team of traders in commodities. No financial instruments from the virtual world, and the very real physical resources.

Atanas Djumalieva, one of the tops Goldman Sachs, hired specifically to implement this strategy. Atanas Djumaliev works in Moscow, but big plans raw Bank Group provide for the establishment of global international empire that would become a division of VTB Group. It is expected that it will be the center of Zug - the small Swiss town, which forces the team billionaire and founder ofnoimennoy trading company Marc Rich has been transformed into the world capital of trade raw materials. The new network will also include Singapore, Hong Kong and the Middle East. The new global structure will not just sell financial instruments on exchange contracts, it intends to enter into business contracts trade on the physical delivery of oil, grain and other "komoditis".

There is another very remarkable fact - VTB new strategy is implemented in a situation where other established giants of the international investment community, by contrast, reduce their business on commodity trading. But VTB, apparently counting on the support of the most powerful - the Kremlin. Which VTB management expects to maintain and after the state's share in the bank's capital will be reduced below 50%.

The owner of the Empire

Recall, now 60.9% of the capital of VTB owned by the Russian government. But in May, Russian President Vladimir Putin signed a decree stipulating the reduction of the government's stake to 42.83%. With the implementation of this plan, there is some Zaminka. And in June 2016. Board Chairman Andrei Kostin, VTB has warned that the actual privatization of the credit institution is transferred to 2017.

In support of this head of VTB Transfer referred to the sanctions, which complicate the sale of shares. But apart from sanctions, there are far more mundane moments. For example, the full integration of VTB-24 in the core business of the bank, the specific time and date, which will be discussed shortly. Hitch occurred and the expected sale of Ukrainian VTB business. None of the potential buyers do not agree to replace in the capital "VTB Ukraine" interbank loans allocated to Russia's "mother", and leave the money at the disposal of Ukrainian daughter Costin obviously does not want. Such money to it (the bank) are needed most.

Deputy Finance Minister Sergei Storchak, meanwhile, set up strictly for the privatization of the bank. True, he voiced this position in Western specialized publications. In a recent interview GlobalMarkets, telling that "we have to act without delay," he put the first number in thethe list of assets it sold VTB. Bashneft, by the way, is also affected by the sanctions, followed already number two.

This means that the controlling stake in VTB shares may not be in private hands at any moment. And as shown by the example of Bashneft, this transition can be carried out very quickly. The more that these "hands" is already in business. The main change, which will occur after the privatization, the transformation will be "state bank for special assignments", which, in fact, is now the VTB, in a large-scale and influential bank, backed by the state, but ... controlled by individuals. Around the same status at the time operated the East India Company, which built the British Empire, but the dividends of this building received its shareholders and managers.