In December 2015 Mikhail Gutseriev is named as the most successful businessman of the year according to Vedomosti
PERSONS OF THE YEAR – 2015
BUSINESSMAN
MIKHAIL GUTSERIEV, THE MAIN SHAREHOLDER OF BIN GROUP
This year Mikhail Gutseriev announced his family (he builds up business with his brother Sait-Salam and his nephew Mikhail Shishkhanov) will establish a new financial group including banks, insurance, lease and pension funds. In course of the year BIN group was purchasing the assets which went down in value dramatically because of Ruble depreciation and bank crisis. It bought MDM bank in particular and got Rost bank group for financial rehabilitation. The abovementioned will allow BIN Group to be among Top-10 banks at the bank market with the capital assets in the amount of 100 bn RUB. The purchase of Raiffaisen pension fund from the subsidiary of the Austrian Raiffasenbank allowed the group to collect above 130 bn RUB of pension savings from 2 mln people by the end of 2015. It also allowed the Group to become a third consolidator at the pensions market after Otkrytiye and 01 groups.
“Banks in Russia are not business, they are a financial instrument. They are not operated to get income; they are targeted at providing loans for any project, forming the financial flows within the group in a right way. In relation to business banks can be compared to bullets for the gun”, Gutseriev said to Forbes. A good finance management, building up of the reserves for a “rainy day” and forecasting of the risks make incredible competitive benefits for the business during the crisis, BIN group uses these benefits. It is a rare moment now when good assets are cheap, Gutseriev has lots of offers and his family business expands beyond the financial sphere.
Among the purchases of the year are PNK-Chekhov warehouse (above 330 000 m2), a luxury Sheraton Hotel at Tverskaya street and A101 development company. A101 land reserves make up 2443 ha and the transaction costs around 800 mln USD. As for another purchase, Chanson Radio was acquired for the own pleasure of Mr. Gutseriev, the lyric writer.
