Kostin Andrey Leonidovich is a well-known public figure in the modern Russian banking and financial system. This is a man who managed to achieve a lot, starting practically from scratch. His life story is quite interesting and requires special attention and understanding of readers. VTB President began his career as a simple student. Interestingly, on the path to his success, he went to many positions and changed more than one job. In this article, we will talk about how the famous Russian businessman Andrei Kostin lived and lives. Kostin's biography, successes, failures and family life are exhaustively described in the materials presented below.
Andrei Leonidovich Kostin was born on September 21, 1956 in the capital city of the USSR - Moscow.
In 1979, he graduated from the Faculty of Economics of Moscow State University. Lomonosov. And in 1982 he successfully defended his thesis, after which he received a degree.
From 1979 to 1992, Andrei worked in the structural unit of the Ministry of Foreign Affairs: he was an employee of the gene. USSR Consulate in Australia, and then an employee of the USSR Embassy in Great Britain.
In 1992, Kostin assumed the role of one of the main founders of the Russian Investment and Finance Company (RIFK).
In 1995, he was elected to the prestigious position of Deputy Chairman of the National Reserve Bank.
On October 18, 1996, by decree of the President of the Russian Federation, Kostin Andrey Leonidovich was awarded the appointment to the post of chairman of Vnesheconombank. In his current position, he began to work on the active development of commercial banking.
The scandalous story of 1997 regarding the "NRB case" about the theft of ten million dollars from the bank accounts involved Andrei Kostin in those days. Journalists and experts said that he was involved in the incident scandal. However, this did not damage the banker's business reputation. In fact, the businessman came out of the water dry.
During the 1998 crisis, by order of the government, contracts with arms buyers from Russia were transferred from bankrupt banks to Vnesheconombank. This contributed to the increase in the customer base of the credit institution and the rapid development of the company itself. According to the results of the year, Kostin was presented for his work in the form of an honorary diploma from the government of the Russian Federation.
Other government awards
In 1999, Andrei Kostin was awarded a new award: the businessman received the Order of Honor for his enormous contribution to the development of the financial and banking system of Russia.
In 2001, the banker received another diploma from the government of the Russian Federation. By fall, VTB head Andrei Kostin began talking about plans to merge Vneshtorgbank and Vnesheconombank.
In 1998, Andrei Kostin was included in the ranking list of successful people, including one hundred of the most promising businessmen and politicians from around the world. This top list has been compiled by the English magazine Worldlink.
In 2002, the professional success of the businessman continued. In mid-June, Kostin Andrey Leonidovich received a high and prestigious job title. He was elected President and Chairman of the Management Board of Vneshtorgbank (VTB). But not everyone was happy with this appointment. Former Chairman of the Central Bank Victor Gerashchenko at that time, he reacted negatively to the news of Andrei Kostin's new post.Sergey Rodionov, who, according to a number of media outlets, at one time helped Kostin in building a banking career, agreed with him. However, both officials and specialists at that time were confident that Andrei Kostin had all the necessary qualities and skills to work in such a high position.
In mid-2004, Kostin announces high-profile information - Vneshtorgbank acquired almost 86% of the shares previously owned by Guta Bank. This package cost VTB a cost equal to one million rubles. During a meeting with the press on July 19, Andrei Kostin also spoke about VTB’s plans to buy 76% of Promstroybank’s shares (in the future, it’s acquired a block of assets of Promstroibank-SPb). Thanks to successful operations, the head of Vneshtorgbank was able to get on the rating list, which included 13 of the most influential business people and businessmen in Russia. This top was compiled by the thematic publication "Company". In addition to Andrei Leonidovich Kostin, the list included another famous banker of that time - the president of the main bank of Russia (Sberbank) Andrei Kazmin.
In 2005, Andrei Leonidovich provided information to media representatives that Vneshtorgbank would be able to create a strong financial structure before the end of this year. It was planned that she would have a dozen banks and institutions outside of Russia. The idea of creating such an organization was proposed by the Ministry of Finance of the Russian Federation, and the Prime Minister quickly agreed to its successful implementation. It was decided that the government will allocate more than 40 billion rubles, and this will provide an opportunity for VTB Bank to actually double its authorized capital. By this time, Vneshtorgbank took the place of the second largest and most financial bank in Russia (Sberbank continued to be the leader).
The following year, Andrei Kostin came up with even more ambitious plans. The businessman decided to work to strengthen the bank's presence in Southeast Asia and the African continent.
At the beginning of winter 2006, VTB management signed a document on the purchase of the Mriya Bank of Ukraine. This institution was connected with Vneshtorgbank (Ukraine). In the spring of 2006, Andrei Kostin made a statement containing information that Vneshtorgbank intends to open subsidiaries in Angola and Vietnam, as well as in each state that is part of the CIS, by the end of the year.
In the spring of 2006, during a business trip to the capital of Belarus, Andrei Leonidovich announced that Vneshtorgbank wants to buy the main stake in Slavneftbank and open a new financial institution in the country - VTB-Belarus. The transaction was expected to be completed by the end of 2006. Vneshtorgbank also intended to introduce this new structure into the top largest banks in Belarus.
In 2006, Kostin Andrey was appointed a member of the board of directors of the state company Rosneft. According to journalists, Kostin was included in the list of the company's management in connection with her plans for a public offering (IPO).
In October 2006, Kostin announced that Vladimir Putin was withdrawing Vneshtorgbank from the list of state organizations. After that, Promstroibank had a chance to connect with VTB, and the latter would be able to conduct an IPO. According to Andrei Leonidovich Kostin, the bank also intended to completely change the structural organization of its subsidiaries in the West. Until the end of 2006, VTB planned to provide blocks of shares of these financial organizations to its other “daughter” - Moscow People’s Bank, located in London (it was decided to rename it VTB-Europe). A message was sent containing information that during the next year these banks should be transferred to the status of MNB branches.In connection with such ambitious plans for the best global positioning, Vneshtorgbank decided to conduct a thorough rebranding, as a result of which it became not called Vneshtorgbank, but VTB.
In late spring 2007, the first public sale of VTB shares was held. The declared price was 13.6 kopecks per share, while Andrei Kostin himself bought their main package.
In the middle of summer 2007, Kostin is a member of the board of directors of Russian Railways (RZD) and is reinstated in this post in July 2008, but in 2010 he refuses new elections due to too heavy a load at VTB Bank and in the company "Rosneft".
After the start of the global economic crisis that struck in the fall of 2008, Andrei Kostin spoke about VTB’s desire to buy up consumer-type companies and other banks. In October and November 2008, VTB issued loans worth over 320 billion rubles to support the Russian economy.
At the end of 2008, Andrei Kostin (VTB), together with Minister of Defense of the Russian Federation Serdyukov and Mayor of St. Petersburg Valentina Matvienko, signed a memorandum on the creation of a joint Military Educational and Scientific Center (VUNC). This entrepreneurial project was estimated at over 100 billion rubles. The construction project was based on the plan of VTB-Development, which, after agreeing on the document, it was decided to revise "taking into account the requirements of the Ministry of Defense."
In late autumn 2010, after the resignation of Moscow Governor Yuri Luzhkov, information appeared about the intention of VTB headed by Andrey Kostin to consolidate a 100% stake in Bank of Moscow. On February 22, 2011, VTB completed a deal to purchase an equity stake in the city government in this financial structure, as well as a 25% stake in Stolichnaya Insurance Group (SSG). On February 24, Andrei Kostin, on the recommendation of Borodin, was elected to the post of chairman of the Board of Directors of the Bank of Moscow. What exactly could force Borodin, who used to be completely against the merger with VTB, to change his point of view, was not said anywhere. Nevertheless, among financial experts, a strong opinion was voiced that transactions concluded through pressure or coercion usually do not end with anything favorable. So, even before the election of Andrei Kostin to the leading position among the board of directors with a corporate conflict situation between VTB and Bank of Moscow, some interested parties linked the searches that were carried out on February 17 at the organization headed by Borodin.
Despite this, conflicts between the main shareholders of Bank of Moscow continued. On April 7, fearing criminal liability, Borodin left Russia and flew to London, where he announced that he had found investors to buy a full stake in Bank of Moscow from VTB, and urged Kostin to start negotiations. But on April 8, Borodin made a statement that he had sold his entire block of shares. Giving comments on this information, VTB representatives emphasized that Gosbank did not acquire Borodin shares.
Kostin Andrey Leonidovich: children and family
Despite his active work in many areas, businessman Andrei Kostin managed to have a strong, happy family and keep these relations in a favorable condition until now.
The family of the leader consists of three people: Andrei Kostin himself, his wife and son. A businessman carefully hides the details of his personal life. But a terrible event in the life of his family is known to many - the eldest son of Andrei Kostin died tragically in 2011.
Andrei Leonidovich Kostin is one of the few successful figures in modern Russia who has been able to achieve everything from scratch and to this day has remained afloat and maintain his business reputation. The businessman made a huge contribution to the Russian economy, the banking system and built an excellent career.Kostin's demand in many large companies in Russia, Europe and Asia only confirms his unique professional skills.