“Opening” of a new chapter – Newspaper Kommersant No. 238 (7439) dated 12/22/2022
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According to Kommersant, the new head of Otkritie Bank after its sale to VTB will be the ex-head of Unicredit Bank Mikhail Alekseev, who recently left the Central Bank. VTB still intends to close the deal to buy Otkritie from the Central Bank before the end of the year, despite the delay given by the deputies. Kommersant’s sources say that VTB expects to integrate Otkritie into its structure in a year and a half, and at least for this time the latter needs a chairman of the board, who is not directly related to either one or another bank.
The fact that after the purchase of Otkritie by the VTB group, Mikhail Zadornov will be replaced by Mikhail Alekseev as chairman of the bank, was told to Kommersant by several participants close to the deal.
One of Kommersant’s interlocutors specified that the appointment was initiated by VTB, the Central Bank supported the candidacy, and Mr. Alekseev accepted the proposal: “The parties understand how important it is for an experienced independent specialist to head the acquired bank.”
Representatives of VTB, the Central Bank and Mikhail Alekseev did not comment on this information.
From October 2020 to June 1, 2022, Mikhail Alekseev worked at the Bank of Russia. As a deputy chairman of the board, he oversaw the department of cash circulation, and was also chairman of the board of directors of the Banking Sector Consolidation Fund (MC FKBS), which is engaged in reorganization. Since 1992, Mr. Alekseev has held positions in various Russian banks, and from 2008 to 2020 he headed Unicredit Bank.
“Given the status of the transaction, it is obvious that both the seller and the buyer have a logical desire for the transition period to be balanced, balanced and reasonable,” says Artur Shamilov, managing partner of Top Contact. long period of time. Therefore, it is important that during this period the bank is headed by a person who is neutral in relation to the parties to the transaction.” According to the expert, Mikhail Alekseev will cope with this task.
Thus, VTB, which expects to close the deal on the purchase of the Otkritie group by the end of the month, continues to form a new board of its parent bank.
Two weeks ago, Kommersant said that Yury Andresov would oversee the accession by VTB Group to Otkritie (see “Kommersant” December 8). Now Kommersant’s sources specify that he will take the post of deputy chairman of the bank’s board. For the rest of the members of the board of Otkritie, “there is no clarity yet, but the team will be formed promptly,” says the interlocutor of Kommersant, who is close to the VTB group.
According to Kommersant’s sources, VTB has “quite ambitious goals” for integrating Otkritie, the group plans to complete the process in a year and a half, although experts believe that it will take significantly more time to complete such a task (see “Kommersant” dated May 12). Moreover, the deal includes not only the Otkritie bank itself, but also the large insurer Rosgosstrakh and a number of other assets. It was the group that was estimated by the company Business Solutions and Technologies (formerly Deloitte) in the range of up to 328-374 billion rubles, Kommersant’s interlocutors close to VTB emphasize.
“The capital of the group is about 550 billion rubles. If we assume that the estimated value is 350 billion rubles, the multiplier of the transaction is 0.64,” Anna Avakimyan, chief analyst at RegBlock, clarifies. segment related to deviations from the target level of operational and financial efficiency”. At the same time, the expert believes, the probable deductions from the acquired capital of the insurance and pension divisions could not be too high.
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