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Sberbank CIB

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Sberbank CIB
FormerlyTroika Dialog
Company typeSubsidiary
IndustryFinancial services
Founded1991
HeadquartersMoscow, Russia
Number of locations
7 countries
Key people
Ruben Vardanian (President)
ProductsInvestment Banking
$200 m
ParentSberbank
Websitewww.sberbank-cib.ru

Sberbank CIB is a multinational investment banking and asset management firm headquartered in Moscow, Russia, and a subsidiary of Sberbank. It was founded in Moscow in 1991.

Troika Dialog's core lines of business are securities sales and trading, investment banking, private wealth and asset management, retail distribution and alternative investments. The company focuses on markets in Russia and other CIS countries. It operates in more than 20 cities in Russia plus offices in London, New York City, Kiev, Almaty, and Nicosia. Troika Dialog's clients include leading Russian and international companies, financial institutions, government agencies and high-net-worth individuals.

History

Troika Dialog was founded by the American Peter Derby in 1991.[1]

In March 2011, Sberbank agreed to acquire Troika Dialog for US$1 billion, through the purchase of a 63.6 percent stake held by a shareholder group led by Ruben Vardanyan, and a 36.4 percent stake held by South Africa's Standard Bank.[2]

Operations

Capital markets

Equities. The company is active in Russian equity sales and trading.[citation needed] Sberbank CIB’s equity desk serves global and domestic institutional investors and hedge funds as well as corporate investors and private individuals. The company makes markets well before the open in Moscow and continues to make prices through the close of New York trading.

Fixed Income. The company is the most active operator on the secondary ruble bond market and a highly active participant in the secondary Eurobond market.[citation needed] The company provides its clients with custody and clearing services for debt instruments, including settlement and clearing facilities DVP Euroclear. The company plays an active role in the Ukrainian and Kazakhstani debt market and provides services for organizing bond issues.

Derivatives and Structured Products. The company, as the founding trading member of the RTS-FORTS index futures, continues to develop its role in the Derivatives market place. The company provides trading liquidity in Russian index futures, index options and stock options that trade in London or Frankfurt. Troika’s Structured Products Group is focused on three main areas: issuing platforms with an extensive use of derivatives, hybrid debt instruments with equity participation structures, and securitization.

Treasury. The company Treasury’s key line of activity is hedging currency, interest rate and commodity risks faced by clients. Troika also provides corporate clients with short-term funding through REPO. Also, companies may place temporarily available funds through reversed REPO to get additional income.

Research

The company’s analysts actively monitor over 300 companies and provide in-depth analysis of 150 of the most important listed Russian, Ukrainian and Kazakh firms. The company’s research product range includes equity, fixed income and options coverage through a broad range of publications which include market dailies, strategy and economic monthlies, long term thematic industry pieces and individual company desknotes or reports.[citation needed]

Investment banking

The company provides M&A services, including mergers, sell and buy-side advisory, leveraged buyouts, joint ventures, strategic alliances, and fairness opinions. It provides clients with services including arranging and leading primary bond issues and secondary market trading and in-depth Fixed Income market research. Troika has managed and been involved in the largest and most visible transactions by Western and Russian companies, both blue chip and rapid growth issuers, such as RAO UES of Russia, Russian Railways, AvtoVAZ, KamAZ, Sukhoi Aviation Corporation, Novorossiysk Commercial Sea Port, Power Machines, NOVATEK, URSA Bank, Vozrozhdenie Bank, Vimpelcom, IBS, Pharmacy Chain 36.6, Wimm-Bill-Dann, Nidan, World Class, Fortum, among others.[3]

Asset management

Founded in 1996, Troika Dialog Asset Management (TDAM) is a Russian asset manager. The company offers mutual funds, individual accounts and other financial services to private investors, insurance firms, pension funds and major companies. Troika Dialog Asset Management services a number of state funds: the State Pension Fund of the Russian Federation (within the pension reform), the Deposit Insurance Agency, the Federal Public-State Fund for the Protection of Investors’ and Shareholders’ Rights, and the Cumulative Mortgage Housing Provision System for Servicemen in the Armed Forces.

Personal investments and finance

The company provides customer service to wealthy mass clients, offering a range of products: mutual funds, internet trading, individual brokerage, managed accounts, equity funding and pension savings management. The company is active in the mutual fund market and offers investment-based life insurance. In addition to the company’s own client service network, Troika Dialog has developed a network of agent banks.

Alternative investments

Troika Capital Partners (TCP) is an alternative investment business. The group manages over $800m in PE and VC funds on behalf of a diversified group of LPs, including banks, FoFs, insurance companies and family offices. TCP predominantly invests in later-stage development and buyout situations. The primary focus is consumer-driven and technology enabled sectors.[citation needed]

Corporate affairs

Troika Dialog has been privately owned by 109 employee partners. In March 2009, the company announced a strategic alliance with Standard Bank Group under which Standard Bank will become a 36% shareholder in Troika Dialog. In 2012 the brokerage firm has been acquired[4] by Russia's biggest bank, Sberbank, for USD 1 bn and continued operation as a part of its investment banking division.

The Russia Forum

Since 2008 Troika Dialog organizes annual three-day forum held in Moscow – “The Russia Forum”. The Forum follows a similar format to that of the Davos meeting of the World Economic Forum (WEF) in bringing together representatives of the international investor’s community, Russian political and business leaders, public figures, celebrities and media to discuss Russia’s involvement the challenges facing Russia and the global economy

Sources

References

  1. ^ Kets de Vries, Manfred (2004). The new Russian business leaders. Edward Elgar. p. 237. ISBN 9781843764991.
  2. ^ "Sberbank buys Troika for $1 bln in dealmaking drive". Reuters. 11 March 2011. Retrieved 5 July 2012.
  3. ^ Troika Dialog's most important equity deals http://invest-iq.net/?s=troika+dialog&x=0&y=0
  4. ^ http://invest-iq.net/2012/02/sberbank-completes-troika-dialog-acquisition/
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