четверг, 17 марта 2011 г.

Lev Alaluev - Co-owner of the Bank of Moscow

http://rumafia.com/person.php?id=1300


Surname: Alaluev

Name: Lev

Fathername: Fedorovich

Position: Co-owner of the Bank of Moscow


Biography:

 

Born in Moscow on May 24, 1967.

In 1991 he graduated from the Moscow Institute of Finance. In the early 1990's he worked at Dresdner Bank, and then became an adviser to the Mayor and the Moscow government on Finance and Economic Affairs (1994-1995). In 1995 he was appointed president of Bank of Moscow, established by the order of mayor. In late 2007, Bank of Moscow reported that about 9% of the shares were controlled by Borodin and a board member, Leo Alaluev. A little later, they announced that they intended to increase the size of the package to the blocking. Borodin says that he had agreed with the Moscow government to buy shares about 10 years ago – then there were allegedly a few volunteers to become co-owners of the bank.

Source: www.rospres.com

 

 

Dossier:

 

In 1998 the magazine "Profil" described Alaluev as a man "who has known Luzhkov for over 30 years and whom he once called a friend and brother."

Yuri Luzhkov built houses to his friends, Leo Alaluev, a former subordinate to Luzhkov NGO Chemical Automation, and now a shareholder and deputy chairman of the board of directors of Bank of Moscow recalled in an interview to "Profile" in 1998. And Luzhkov did it unselfishly, just because of good attitude to a man." "Yuri Mikhailovich was never a stovemaker, but he needed a stove for his bath. He took the folder and made a stove – for both of us. These stoves are working for the last 17 years ", Alaluev told.

In the Bank of Moscow, he was responsible for relations with the city government, according to source close to the Bank of Moscow. "Alaluev had entree to the office of Luzhkov and other officials of the capital. He had the confidence and made the impression of an observer for the affairs of the bank on their side”, the source said.

Source: Vedomosti, 28.12.2007

 

Transferring money of the city to the Bank of Moscow was not so easy. "During the first years of existence of the Bank of Moscow there were orders of the mayor Luzhkov appearing over the maintenance budget of the Government, which contradicted each other. And Yury Luzhkov told in his speeches about how to serve Moscow's budget, and then convincingly said that one can not put all eggs in one basket, and one should not rely on just anyone, and it is necessary to keep everything centralized, in one place with one bank, which is under control.

Source: Vedomosti, 25.10.2010

 

For the first time Lev Alaluev drew media interest in connection with the information about sharp increase of his personal stake in the Bank of Moscow, as well as a share of his partner Andrei Borodin. The journalists wrote then about the fact that Borodin and deputy chairman of the board of directors of the Bank of Moscow, Lev Alaluev became the owner of 8,7% of Bank in the ratio of 80/20 though the companies they controlled, as indicated in the message of the bank. Share of Borodin – 6.96%, of Alaluev – 1.74%. On the basis of quotations in C those packages amounted at $ 470 million and $ 118 million, respectively. Later on the size of participation could be increased, the bank warned.

Until then, the share of senior managers in the Bank of Moscow, according to the bank, did not exceed 0.03%. The biggest stake belonged to a board member, Ilya Gorbatsevich - 0.024%. Share of Borodin was pointed at a rate of 0.00025%, and Alaluev’s - 0.0021%. 

It was unknown who gave Borodin and Alaluev the control of almost 9% of the Bank of Moscow,.

Source: Vedomosti, 28.12.2007

 

After about six months, journalists noticed that Andrey Borodin and Lev Alaluev again increased their stake in the bank - from 8,7% to 17.62%.

Source: Kommersant № 38 / B (3855) on 03/11/2008

 

In this regard, they wrote that the rating agency Fitch expressed concern about the growing proportion of shares of the Bank of Moscow, allocated in the indirect ownership of the city authorities, and that the structure of ownership of the shares is becoming increasingly difficult.

Investors worried about a rather complex scheme of bank ownership. While the city was parting with a controlling stake of the Bank of Moscow, the share of the Bank President, Andrei Borodin and his adviser, Lev Alaluev, was growing. They have accumulated 17.62% thourgh the controlled structures and intend to bring this package to the blocking.

Source: Vedomosti, 09.04.2008

 

When Borodin and Alaluev acknowledged a significant stake in the Bank of Moscow for the first time in 2008, Borodin was asked: on what money did you buy shares? "All that is acquired by overwork", he replied.

Source: Vedomosti, 25.10.2010

 

In the spring of 2010, the Bank of Moscow first disclosed the structure of ownership on its website, fulfilling the requirements of the Central Bank to the banks participating in deposit insurance system. Previously, it was unknown though which company President of the Bank of Moscow, Andrey Borodin, and Lev Alaluev owned a 23.07%. package. According to published figures, the ownership is acquired though the six companies: NGO Pharmaceuticals, LLC Plastoinstrument, Gazdorstroy LLC, Tsentrotransport LLC, Stroyelektromontazh LLC and Himpromeksport. The bank did not disclose the size of shares in these companies belonging to Mr Borodin and Mr Alaluev,.

Source: Kommersant »№ 52 (4352) on 03/26/2010

 

A little later, the shareholders of Bank of Moscow became the two largest foreign banks - Goldman Sachs and Credit Suisse. As a result of the additional issue by the Bank of Moscow to the amount of 21.7 billion rubles, they bought for two more than 6.5% of its shares. Buying such a small proportion does make sense, if they are able to profitably sell it in the IPO in future, experts say.

Source: Kommersant »№ 135 (4435) on 07/28/2010

 

In connection with the replacement of the mayor of Moscow, and appointment of Sergei Sobyanin in 2010, journalists wrote that Moscow holds more than $ 3.5 billion the Bank of Moscow - a strong argument for that the bank was led by a person of the acting mayor’s team but not the former one’s. But Andrei Borodin and Lev Alaluev have a counterargument: that the bank had been created by their hands, and Moscow's share in it had been eroded below the controlling level long time ago, and they can rise up to 44% of its shares.

Journalists then analyzed the proportion of Borodin - Alaluev in the bank. They wrote that they have consolidated a blocking stake in the bank, namely 26.73%, which consist of an approved share of 20.32 and 6.41% by "Ji-si-um" and "Gee-si-em Investments." 17.32% stake in the Bank of Moscow, which may be under control of Borodin, the bank’s president, and 26.73% shares of Bank of Moscow, which may belong to him together with Alaluev as individuals, give a sum of 44.05%. What rights can such a package give?

The charter of the Bank of Moscow refers the election of the president and the early termination of his powers to the general shareholders meeting. A simple majority vote of the shareholders attending the meeting is enough to re-elect the president. If the government of Moscow decides to do so, having one share more than the government would allow blocking the presidential re-election. It turns out that Borodin and Alaluev need to win someone from the minority shareholders to become non-replaceable.

Source: Vedomosti, 25.10.2010

 

Shortly after the resignation of Yuri Luzhkov, the Central Investigation Office (GUS) under the Moscow police launched a criminal investigation into the issue of an unsecured loan of 12.7 billion rubles to the Bank of Moscow. The recipient of this loan was a little-known company "Premier Estate”, but in the end the lending money turned out to be in the Inteko concern owned by Elena Baturina.

The case against employees of the Bank of Moscow was instituted by MID under Part 4 of Art. 159 (fraud in large-scale) of the Criminal Code. And there were no charges presented to the bank employees. As explained by the official representative of the Moscow police, there are only unidentified persons present in the case file.

The deal, in which MID became interested, occurred on June 25, 2009, and it is based on selling 58 hectares of land in the west of Moscow. In 2009 that site was owned by the OOO "TD" Ramenskaya” - "subsidiary" of concern Inteko, which is owned by the wife of ex-mayor of Moscow Elena Baturina. In that place - between Michurinsky Avenue, Lobachevsky and the Kiev railway - Inteko intends to build a complex "Setun Hills" on 729 thousand square meters of housing, but then the project had been discontinued (in November 2010, the mayor of Moscow, Sergei Sobyanin, prohibited the construction), and the land was sent for sale. The buyer was a little-known company "Premier Estate" and the amount of the transaction amounted to 12.7 billion rubles, which were provided by the Bank of Moscow. In this case, as it became known during the investigation, the firm-customer of the elite plot had been established only three months prior to the transaction, and authorized capital of Premier Estate compiled a total of 10 thousand rubles.

But these "risks" did not affect the decision of the bank. The Moscow police pay attention to the fact that three weeks before the Moscow City Duma had approved the decision of the city government to contribute 14.99 billion rubles to the capital of the Bank of Moscow. The main shareholder of the bank transferred the money as payment for additional shares issue. Investigators believe that applying for a loan, ZAO "Premier Estate" had no intention "and the real possibility of fulfillment of obligations under the contract." the investigators are making such a conclusion as the shares of the Premier Estate at a cost of 10 thousand rubles were collateral, and its current account lacked sufficient funds to ensure that contractual obligations.

Employees of the bank, in turn, were certainly aware of the unsecured loan, the police summed up. As the police department noted, the loan from the bank, controlled by the government of Moscow, occurred to be on the account of Inteko, which belongs to the wife of Luzhkov.

Source: Kommersant, 22.12.2010 

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