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Andrei Volgin (businessman)

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Andrei Volgin is a Russian businessman who came to prominence as a player in the early Russian securities market[1][2][3][4] in the aftermath of the collapse of the Soviet Union. Andrei Volgin began his career in finance in the late 1980s at Moscow State University, graduating with a degree in economics.

Business Ventures

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In October 1992 Andrei Volgin established Adamant Financial Corporation, one of post-communist Russia's first private equity and corporate restructuring firms.[5][6][7][8] In November 1994, after building up a 39% stake in Russian rubber maker Yaroslavl Rezinotechnika, he persuaded shareholders to give him control in the company, making it one of Russia's first-ever takeovers. In a daytime meeting that lasted until midnight, nearly 90% of the assembly voted to install Volgin's choice as director. By 1995 he controlled 8 of 11 seats on the board and named his father president.[1][9][10][11]

A spin-off company called Adamant Advisory Services was involved in purchasing Russian telecommunications outfits from Metromedia in 2003.[12][13]

In 1999 Volgin and his wife Elena founded Adamant Media Corporation, one of the world's largest publishers of old and rare book reprints, with over 60,000 titles in many languages. The company sells physical and ebooks through its website, and through Amazon.com.[14]

In 2007 Volgin co-founded Spiral Universe with Reuben Kerben. Spiral is an educational software startup that distributes a software as a service solution for learning management.[15] In 2014 Spiral Universe has been acquired by STI.[16]

Awards, appointments, and recognition

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According to The Wall Street Journal Europe, his colleagues described him as "the future of Russia." From 1994 to 1997 Volgin served as chair of the Moscow Public Shareholder's Rights Committee[17][1][18][19][20][21] and has consistently spoken out against Western investment in corrupt and insufficiently accountable or responsible Russian companies.[22]

In 1994, at the age of 23, Volgin was appointed by the prime minister of Russia to be a member of the Securities Markets Commission of the Russian government and chair of its Expert Council. Volgin was one of the authors of the Joint-Stock Company Law and Securities Markets Law, both of which were adopted by the Russian Federal Assembly in 1995, and legislation on unit investment funds.[23]

In 1995 The Wall Street Journal named Volgin one of the top 24 young business leaders in Central and Eastern Europe.[4] In 1997, Mr. Volgin was the youngest person to be placed on Global Finance's list of the 600 most influential financiers in the world. In 1997 the Russian Biographic Institute named Volgin the "Person of the Year" in the category of business.[24]

Publications

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  • Andrei Volgin, Yuri Milner. Voucher Investment Funds in Russia. In Creating Private Enterprises and Efficient Markets. The World Bank. Washington, 1994.
  • Andrei Volgin. The Changing Face of Russian Business Elite. Private Wealth Management. 1995/1996. Campden Publishing Limited. London, 1996.
  • Clifford Gaddy, Barry Ickes, Andrei Mazharov, and Andrei Volgin. Russia's "Virtual Economy": an Update for Investors. The Brookings Institution. Washington, 1998.

See also

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References

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  1. ^ a b c McKay, Betsy (March 1995). "Russia's Young Crusader Takes Aim at Factory Chiefs". The Wall Street Journal Europe.
  2. ^ Carla Anne Robbins and Steve Liesman (August 1997). "Aborted Mission: How an Aid Program Vital to New Economy Of Russia Collapsed". The Wall Street Journal.
  3. ^ Barry Newman (May 1996). "Rethinking an Empire". The Wall Street Journal.
  4. ^ a b Adi Ignatius (May 1995). "New Europe's Remarkable 20-Somethings". The Wall Street Journal.
  5. ^ Fogel, Marya (October 1994). "Privatization: Moscow Targets New Fear Of Stock-Market Volatility". The Wall Street Journal Europe.
  6. ^ Kranz, Patricia (April 1998). "Who Needs Rubles? The virtual economy hides a lot of business--and tax revenue". Business Week.
  7. ^ Baker-Said, Stephanie (July 1997). "Yeltsin Takes Aim at Greedy Managers". The Moscow Times.
  8. ^ Banerjee, Neela (November 1995). "Western Fund Managers Target Russia". The Wall Street Journal.
  9. ^ Banerjee, Neela (March 1995). "Russian Factory Thrives After Outsider Steers Transition to Private Ownership". The Wall Street Journal Europe.
  10. ^ "How Russian Industry Is Changing For The Better". The Economist. April 1995.
  11. ^ Peter Galuszka and Patricia Kranz (February 1995). "Impatient Investors Go After Old-Guard Russian Managers". Business Week.
  12. ^ Metromedia Sells Russian Assets Light Reading, April 3, 2003
  13. ^ Is Russian Opportunity Knocking? Light Reading, April 9, 2003
  14. ^ Kristine Petrosian (2001-02-10). "Russian firm is Adamant about e-book prospects". The Russia Journal (98). Archived from the original on 2011-06-13. Retrieved 2010-02-18.
  15. ^ "Spiral Spreads to 80 Countries in 20 Weeks. Thanks, GWT!". Google Developers Blog. 2010-05-14.
  16. ^ STI Acquires 3 Companies, Raises $3M edSurge, July 1, 2014
  17. ^ Erlanger, Steven (August 1994). "Risks of Russia's Young Markets". The New York Times.
  18. ^ McKay, Betsy (June 1996). "Russia's Gilded Age". The Wall Street Journal Europe.
  19. ^ Kranz, Patricia (June 1997). "Shareholders At The Gate: Russian red directors dig in their heels as outside investors try to oust them". Business Week.
  20. ^ Patricia Kranz and Peter Galuszka (May 1995). "Why State Capitalism May Just Be The Answer". Business Week.
  21. ^ "Survey of Russia (4): Cash Stays Under The Bed". Financial Times. April 1995.
  22. ^ "Where would Warren Buffett invest in Russia?". The Russia Journal (4). July 5, 1999. Archived from the original on January 4, 2010.
  23. ^ Baker-Said, Stephanie (December 1997). "FUNDS for the FUTURE". The Moscow Times.
  24. ^ "National Award Person of the Year - 1997". 1997.
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