Friday, June 13, 2008

Ruben Vardanian - Russian Investment Banker

Ruben Vardanian is president of a russian company "Troika". Besides traditional brokerage, asset management and consulting, "Troika" was actively involved as intermediary in the second redistribution of property, buying out shares of attractive companies for large players: GAZ - for "Rusal", UAZ - for Severstal...

Ruben Vardanian, main owner of Troika Dialog’s $2 bln business, told Finans. magazine’s interviewer about company’s strategy and commented recent news about the company’s new motivational program (in 2007).

“We decided that we will develop independently to save for the next 4 or 5 years the opportunity to choose whether to stay in the status of a partnership or become a public company, or to sell a big share to an international bank. Only the profitable and successful company can have these opportunities, and that’s why our strategic goal today is to be a leader among the investment banks on Russian, Kazakh, Ukrainian and other CIS markets. If on a certain stage we will see that it is impossible to reach that goal without attracting the partner or launching an IPO, we will make a proper decision.”

“For me, company’s managers’ ambitions to become extra successful are very important. And we launched an option program in Troika to support that. According to that program my share decreases for 10–15% yearly, and it has already shrank from 90% to 65%. I think it would be right if my share becomes less than a controlling interest. If you said A, then say B. If you build a partnership where all the partners can influence the decisions, you should create the mechanisms that allow them to become the owners. The main asset in our business is people, and if you don’t let them become the owners of the company, you’ll hardly retain them, considering the conditions of the tough rivalry for talents. In addition, the joint ownership creates another attitude towards the work.”

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