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Together with a small group of business partners, he first concentrated on the production of materials derived from [[uranium]] deposits located in the deserts of [[Uzbekistan]].<ref name="The Telegraph">{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8612140/Billionaire-Alexander-Nesis-reveals-why-Polymetal-is-listing-in-London.html|title=Billionaire Alexander Nesis reveals why Polymetal is listing in London|publisher=The Daily Telegraph|date= 03-07-2011|accessdate=08-09-2011}}</ref>
Together with a small group of business partners, he first concentrated on the production of materials derived from [[uranium]] deposits located in the deserts of [[Uzbekistan]].<ref name="The Telegraph">{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8612140/Billionaire-Alexander-Nesis-reveals-why-Polymetal-is-listing-in-London.html|title=Billionaire Alexander Nesis reveals why Polymetal is listing in London|publisher=The Daily Telegraph|date= 03-07-2011|accessdate=08-09-2011}}</ref>
In 1991, the same group of entrepreneurs embarked upon a new venture to invest in the shipbuilding and metals industries.<ref name="Forbes 2010">{{cite news|title= Forbes - The World's Billionaires|url= http://www.forbes.com/lists/2010/10/billionaires-2010_Alexander-Nesis_SN3U.html|work= [[Forbes]]|date= 03-03-2010|accessdate= 08-09-2011}}</ref>
In 1991, the same group of entrepreneurs embarked upon a new venture to invest in the shipbuilding and metals industries.<ref name="Forbes 2010">{{cite news|title= Forbes - The World's Billionaires|url= http://www.forbes.com/lists/2010/10/billionaires-2010_Alexander-Nesis_SN3U.html|work= [[Forbes]]|date= 03-03-2010|accessdate= 08-09-2011}}</ref>
In 1993, their company became known as the ICT Group. In the same year, having made his fortune, Nesis returned to the Baltic Shipbuilding Yards as its controlling shareholder and Head of Board of Directors.
In 1993, their company became known as the ICT Group. In the same year, having made his fortune, Nesis returned to the Baltic Shipbuilding Yards as its controlling shareholder and Chairman of the Board.


==ICT Group==
==ICT Group==

Revision as of 13:13, 3 November 2011

Alexander Nesis
Born
Александр Натанович Несис

December 19, 1962 (1962-12-19) (age 61)
Leningrad, USSR
NationalityRussian
Alma materLensovet Leningrad Institute of Technology
OccupationBusinessman

Alexander Nesis (born December 19 1962, Leningrad, USSR) is the founder, president and CEO of the ICT Group, a private equity firm headquartered in Moscow, Russia, which invests mainly in the finance, precious metals and engineering sectors.

Biography

Born in Leningrad in 1962, Nesis studied radiochemistry at the prestigious Leningrad Institute of Technology. After graduation he worked as master supervisor at the Baltic Shipbuilding Yard (the largest and one of the oldest in Russia, est. 1856), which produced a variety of ships including nuclear icebreakers and submarines.[2][3] In the early 1990s, Nesis left the shipyard to set out as an entrepreneur, opting to work for himself rather than for the state.[4]

Together with a small group of business partners, he first concentrated on the production of materials derived from uranium deposits located in the deserts of Uzbekistan.[5] In 1991, the same group of entrepreneurs embarked upon a new venture to invest in the shipbuilding and metals industries.[6] In 1993, their company became known as the ICT Group. In the same year, having made his fortune, Nesis returned to the Baltic Shipbuilding Yards as its controlling shareholder and Chairman of the Board.

ICT Group

The ICT ('Investments, Construction, Technologies') Group is one of the largest privately-owned investment and industrial companies in Russia. It is headquartered in Moscow and has a large office in St. Petersburg. It invests in, develops and manages assets in wide range of industries, including the banking and financial industry, metals and mining, precious metal production, heavy engineering, logistics, construction and development.[7]

At present, the portfolio of assets under the Group's management includes such recognized leaders in their respective industries as NOMOS-BANK, Khanty-Mansi Bank, Polymetal and Tikhvin Freight Car Building Plant. The Group also holds large equity stakes in the potash producer Uralkali and Baltic Leasing.[7] The group's assets are located primarily in Russia, but it also has interests in Khazakhstan. According to ICT’s website, the total value of its assets under management stands at $8 billion.[8]

Major Assets

Polymetal

Polymetal was established in 1998 in St. Petersburg by the ICT Group and is a leading precious metals mining company. The Company is amongst the top five global primary silver producers, and is the largest silver and fifth largest gold producer in Russia.[9] Polymetal owns gold and silver mines and carries out exploration activities in four regions of Russia (the Magadan Region, the Khabarovsk Territory, the Sverdlovsk Region and the Chukotka Autonomous Okrug) and in Kazakhstan. Its portfolio of projects contains 45 licenses covering a territory of over 8,800 sq. km.[9]

In 2005, the company was sold to the Nafta-Moskva Group (owned by billionaire Suleiman Kerimov) but was bought back by ICT in 2008.[10]

In October 2011, Polymetal successfully completed the placing of £491m of shares on the London Stock Exchange, valuing the company at £3.55bn and making it the first Russian-founded company to obtain a premium listing at the LSE.[11] Polymetal is expected to become a FTSE 100 company by the end of 2011.[12]

Alexander Nesis has said that he wants the company's work to remain focused on Russia and Kazakhstan. In July 2011 he told an interviewer that '[This region's] so big and there's so much potential for geological discovery – it's not necessary to go elsewhere.'[10]

NOMOS-BANK

Nomos was one of the first businesses to be established following the creation of ICT, and was initially used to manage the assets of the group's founders.[5] The bank managed to survive the Russian banking crisis of 1998 before developing into an independent bank.

Nomos is a leading privately-owned Russian universal bank offering a wide range of banking products and services to corporate, small business and retail clients, as well as investment banking services, across the most economically developed regions of Russia. Following the results of 2010, Nomos is ranked as the 2nd largest privately-owned and 7th largest banking group in Russia in terms of assets.[13]

Nomos floated on the London Stock Exchange in April 2011, raising $718 million and making it the largest IPO of a privately owned Russian bank.[14] The bank now has market capitalization of roughly $2.6 billion (1h 2011), with Nesis himself owning 17.54pc.[15][5] The float was the first involving a Russian commercial bank, and despite the fact that Eastern European issues had formerly struggled, Nomos represented a notable success.

Tikhvin Freight Car Building Plant

Tikhvin Freight Car Building Plant (TVSZ) is a manufacturer of freight cars for the rail industry and is considered to be one of the largest industrial facilities currently under construction in Europe in the machine building industry.[16] To date, $1.2 billion has been invested in the plant.[17]

The construction of the plant began in 2008 in the remote monastery town of Tikhvin, roughly 125 miles east of St. Petersburg and continued in spite of the global economic crisis of 2008-9.

The railcar project at TVZF is aimed at making freight cars that can replace the aging Soviet-made railcar. Describing his business idea of investing in rail industry, Nesis told Bloomberg News: "We reckon upon a simple thing […] Russia has one of the largest fleets in the world, and the majority of these are old and need to be replaced soon."[18]

Nesis also invested $200 million in the construction in Tikhvin of 2,000 apartments to attract high qualified work force to TVSZ from all over Russia.[19] He said at the time: "We decided to spend $200 million on building apartments in Tikhvin to attract workers from other regions. We are offering them houses, mortgage loans and the work that allows them to repay these loans."[19]

Furthermore, three owners of the ICT Group - Nesis, Nikolai Dobrinov and Alexei Gudaitis — injected millions of dollars into the local budget by registering themselves as residents of Tikhvin. As a result, they paid more than 3 billion rubles ($106 million) in federal taxes, meaning that the city received more than 1.7 billion rubles for its annual budget over three years. That money went toward items such as infrastructure, schools and repair of a local hospital.[19]

Uralkali

In 2010, with billionaires Suleiman Kerimov and Filaret Galchev, Nesis bought a 53% stake in fertilizer producer Uralkali. The company has merged with Silvinit; Nesis has a 12.16% stake in the combined entity, which has a 20% world market share of potash.[20]

Corporate Governance Roles

  • President of the ICT Group
  • Member of the Board of Directors at OAO Uralkali (2010-present)
  • General Director and a member of the Board of Directors at Polymetal (1998-2003)
  • Chairman of the Board of Directors at OAO Baltiysky Zavod (1993-1998 and 2002-2005)

Business Approach

Nesis and the ICT Group's preferred business strategy is to set up a project and grow it until it can be run independently. ICT has been described as a kind of incubator, which holds on to investments while they are in the design or technical research stage before spinning them out separately when they have reached a critical mass.[20]

In terms of engineering, he places a strong emphasis on the design stage: "If you make a mistake at the design stage, that's very difficult to repair. If you make a mistake at the construction page, it's easier to repair […] it's very important to find the right technology solution."[10]

Personal Wealth

As of March 2011, Forbes put Nesis's personal wealth at approximately $2.5 billion, putting him at No.459 in its list of billionaires and making him No.39 in Russia.[1]

References

  1. ^ a b "Forbes - Alexander Nesis Profile". Forbes. March 2011. Retrieved 08-09-2011. {{cite news}}: Check date values in: |accessdate= (help)
  2. ^ "Alexander Nesis". Oriel Resources Ltd. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  3. ^ "Baltiysky Zavod". Baltiysky Zavod Joint Stock Company. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  4. ^ "Russia's 100 Richest 2004". Forbes. 2004. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  5. ^ a b c "Billionaire Alexander Nesis reveals why Polymetal is listing in London". The Daily Telegraph. 03-07-2011. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  6. ^ "Forbes - The World's Billionaires". Forbes. 03-03-2010. Retrieved 08-09-2011. {{cite news}}: Check date values in: |accessdate= and |date= (help)
  7. ^ a b "ICT Group". ICT Group Website. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  8. ^ "ICT Assets". ICT Group Website. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  9. ^ a b "Polymetal". Polymetal. Retrieved 09-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  10. ^ a b c "The unassuming billionaire: Metal Bulletin meets Polymetal founder Alexander Nesis". ICT Group Website. 20-07-2011. Retrieved 09-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  11. ^ "Polymetal placing values miner at £3.5bn" The Financial Times, 28 October 2011. Retrieved 01-11-2011.
  12. ^ "Incubator behind Polymetal's move to London" The Financial Times, 1 November 2011. Retrieved 03-11-2011.
  13. ^ "About The Bank". Namos Bank. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  14. ^ "Nomos Bank London IPO sees listing record for private Russian bank". RT.com. 19-04-2011. Retrieved 08-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  15. ^ "NOMOS BANK.'Condensed Interim Consolidated Financial Statements (Unaudited) for the Six Months Ended 30 June 2011'" (PDF). Namos Bank. Retrieved 19-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  16. ^ "Tikhvin Freight Car Building Plant". Tikhvin Freight Car Plant. Retrieved 09-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  17. ^ "ICT Group Website. Tikhvin Freight Car Building". ICT Group Website. Retrieved 19-09-2011. {{cite web}}: Check date values in: |accessdate= (help)
  18. ^ "Bloomberg.'Uralkali, Polymetal Investor to Spend $1 Billion for Railcar-Plant Project'". Bloomberg Website. 02-12-2010. Retrieved 19-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  19. ^ a b c "The Moscow Times.'Railcar Venture Eyes Market for Freight'". Moscow Times Website. 19-04-2011. Retrieved 19-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  20. ^ a b "Uralkali Website.'Completion of Combination between Uralkali and Silvinit'". Uralkali Website. 16-06-2011. Retrieved 19-09-2011. {{cite web}}: Check date values in: |accessdate= and |date= (help)
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