Nikolai Tsvetkov is a successful Russian businessman, head of Uralsib Corporation, a billionaire. One of the 100 richest entrepreneurs in Russia according to Forbes.
The early years of Nicholas
Tsvetkov Nikolai Alexandrovich was born in a simple working family on May 12, 1960. The path to success of an entrepreneur differs from the stories of many other successful people: Nikolai worked hard and studied to achieve a high position. He is a real scientist from an ordinary family, who destroys the stereotype that without money it is impossible to break into people. Very little is known about his personal life. The daughters of Nikolai Tsvetkov are already adults, he is married and has never been divorced.
Nikolai graduated from high school in 1977 and entered the Tambov Military Engineering School, which he graduated with honors. Then he entered the Zhukovsky Air Force Academy, where he succeeded and received a gold medal. After that he went to serve and in just a few years became a lieutenant colonel. Nikolai even worked as a teacher and devoted two years to the Moscow Institute of Radio Engineering, Electronics and Computer Science. In 1996 he defended his thesis and received a diploma in marketing. With the knowledge gained, Nikolai Tsvetkov decided to move up the career ladder.
Carier start
The first place of work of Nicholas was the company "Brokinvest", which he founded together with a friend in 1992. At that time, friends did not have equity, so the house of Tsvetkov’s wife had to be added to the authorized capital. At that time he was still a student, but this year can be considered the beginning of a successful businessman’s career: Nikolai met Vagit Alekperov, the current president of Lukoil.
Vagit dreamed of creating the first Russian vertically integrated oil company and created Lukoil, which at that time was subordinate to the state. But Alekperov did everything to turn it into a private company and recruited like-minded people who were well versed in the industry. He needed those who are versed in various tools of business, which was practically not in Russia in 1992.
Creation of Nikoil
Nikolai Tsvetkov had extensive knowledge, was an experienced broker and knew how financial systems work. Alekperov invited Nikolai to his state concern to work as a financial consultant. A year later, Tsvetkov created his own oil company, Nikoil. He claimed that the name was not associated with his name: Nikoil stands for Oil Investment Company. Later, oil ceased to bring the main income, and the company was renamed Nikolai Tsvetkov. Uralsib seemed to him the proper name. At that time, Nikolai became a businessman in the fastest growing industry.
Activities of Nikoil
In 1992, President Boris Yeltsin issued a decree establishing vertically integrated companies. Russian oil attracted foreign investors who only recently came to the exchange. They bought stocks of companies, not thinking about the possible risks. Russian companies got a chance to earn capital, which they invested in further development. Tsvetkov’s services brought good and stable profit, and the entrepreneur, together with Lukoil, tried to privatize the oil sector. Nikoil received more than 10 regular customers and began advising other companies. In a few years, the number of customers has expanded to 50.
In the early 90s, the population carried their money to funds with the goal of quick enrichment. Alekperov created the Lukoil Investment Fund, which he entrusted to working with Tsvetkov, believing that a financier with extensive experience will be able to properly dispose of the funds. The entrepreneur proved that he can be trusted when he was able to save the company from bankruptcy after the collapse of the financial pyramids. Nikolai was able to turn the money that customers invested in the company into shares, thereby strengthening the position of Lukoil.
At that time, Tsvetkov was a successful financier, but no more. He managed other people's money and was not going to change his activities. Nikolay understood that he was able to manage clients' funds, and began to actively develop in this area.
Growing influence
Nikolay Tsvetkov decides to pursue his own career and in 1996 opens a small commercial bank, Rodina, which he later renames Nikoil. An investment banking group is being created on its basis, which advised new companies. The mid-90s was marked by the emergence of most companies that could not do without banking services, including insurance and lending. And although private clients still carried their savings to the bank, the main emphasis was placed on entrepreneurs and their companies.
Tsvetkov understood that not only the demand for services is growing, there is a need for quality service. His bank was one of the first to work in accordance with international standards and received the support of McKinsey & Company, the world's largest consulting company. A few years later, the financial corporation was one of the first to work in foreign markets and served foreign partners, and Nikolai Tsvetkov was at the head. Photos were distributed even in the West. The entrepreneur’s reputation was perfect, his influence on the industry has grown significantly.
First billion
In the early 2000s, Tsvetkov Nikolai Alexandrovich was one of the most influential businessmen in Russia, he was known even abroad. An indicator of its success was the Fitch rating, which gave Nikoil the highest credit rating among all Russian banks.
A year later, Abramovich and Deripaska bought shares in Avtobank. For them, this solution brought some problems, as one of the main shareholders considered their rights violated. Tsvetkov was looking for ways to expand the business and decided to buy back the company's shares. There was information that Nikolai had to pay $ 100 million. However, the bank fully met expectations: it gave Tsvetkov the opportunity to manage 110 branches in most regions of Russia. Avtobank served 400 thousand private depositors who carried their money to Nikolai.
The year 2002 turned out to be extremely successful for Tsvetkov. Vladimir Putin signed the new law "On the circulation of land for economic purposes." Thanks to him, Nikolai Tsvetkov got the opportunity to create an agro-industrial corporation, which was called “ZNAK”. She began her activity with the acquisition of land in the native land of the entrepreneur - the Krasnodar region, and later in Istra, Dmitrov and other areas of the Moscow Region. In less than three years, ZNAK became the largest landowner in the Moscow Region.
To strengthen the leadership of his financial structure, in 2002 he acquired the Industrial Insurance Company, and a year later the main company appeared, the head of which was Nikolai Tsvetkov. Uralsib - one of the largest banks in Russia, becomes its property. In 2004, the businessman was included in the list of the richest people on the planet according to Forbes, his fortune was estimated at 1.3 billion dollars.
The fall of Uralsib Bank
In 2013, the Central Bank began to actively check and revoke licenses from Russian banks. For several years, the banking sector has been cleansed. It is not surprising that one of the largest financial corporations, Uralsib, was included in the list of companies that are subject to verification. Hard times have come for Nikolai Tsvetkov.
Many experts agree that the entrepreneur’s business has come to an end. Since February 2015, rumors have been circulating about a possible revocation of the license, and after the revocation of licenses from a number of other large banks a similar ending is quite expected.
Nikolai, however, does not give up his bank without a fight. The businessman decided to sell non-core assets. For example, in August 2015, the ZNAK company sold part of its land in the Moscow region to the Promsvyazkapital Ananyev brothers. The deal concerns almost 4 thousand hectares of land, which will be sold for 3.7 billion rubles. A similar figure indicates the distress of the entrepreneur, because it is almost half the market value, rumors began to circulate that Nikolai Tsvetkov was getting rid of Uralsib.
Is it possible to save Uralsib?
According to economists, the deal between Tsvetkov and the Ananyevs indicates a critical situation for the bank. To save Uralsib, we need money that Nikolai Tsvetkov does not possess. His biography is full of ups, but now the first serious obstacle stands in the way.
However, it is worth noting that the proceeds are not enough. According to the conditions set by the Central Bank, in 2015 the authorized capital of the bank should be 20 billion rubles. This amount is necessary to compensate for the assets that are on the balance sheet of Uralsib. For comparison, in 2014 the capital of the enterprise amounted to more than 42 billion rubles.