By Andrei Skvarsky
Ruben Vardanian, founder and chief executive of Troika Dialog, is considering selling out of the Moscow-based firm with chances that the oldest brokerage in Russia will slip under Russian state control, according to RBC Daily.
Sberbank and VTB, two state-controlled heavyweights in Russia’s banking sector, are among potential buyers of Vardanian’s 39.22% stake. Others are top Troika executives and South Africa’s Standard Bank, which already owns one-third of the Moscow bank, the daily said, citing unidentified sources.
VTB denied any plans to buy Vardanian’s shares.
Sberbank deputy chairperson Bella Zlatkis claimed to know nothing of her bank seeking control of Troika. Yet there have been rumours practically since the outbreak of the world financial crisis that Troika may come under the dominion of Sberbank, whose priority targets include boosting investment banking, a business where Troika is one of the leaders.
In 2008, Sberbank lent $254 million to the Moscow School of Management in Skolkovo, of which Vardanian is president and one of the founders.
Vardanian has a string of top jobs with various companies, including the chairmanship of the board of directors of Russia’s Sukhoi Civil Aircraft and senior positions in his native Armenia.
Troika insiders say the the brokerage's entrepreneurial culture has been gradually eroded since South Africa's Standard Bank took a third stake in August 2008. A number of key bankers have parted company while Troika has lost market share in debt capital markes to VTB Capital.
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