Sergey Veremeenko gives 50% of Central Commercial Bank to daughter as present

VEDOMOSTI. Famous entrepreneur Sergei Veremeenko combined a present to his daughter with taking a partner onboard, as Margarita Veremeenko got a 50% stake in the lender’s capital, Vedomosti business daily wrote Tuesday.

“I presented my elder daughter with half of the bank, just giving her a half of its securities. Later on I presented her with several construction companies,“ Veremeenko said in an interview with Russian Sensations television program. She needs to work at ready-to-use facilities, already created, whether at a bank or a construction firm. She does not need to prove anybody that she can do something, since she was borne as a boss,” he thinks.

Information that Veremeenko is a beneficial owner of Central Commercial Bank was disclosed by international rating agency Fitch Ratings in June 2007. Before that he was known as a co-owner of Mezhprombank that he set up jointly with Sergei Pugachev in the early 1990s. In 2003 Veremeenko’s attempt to take presidency in the Republic of Bashkortostan fell through, shortly after this he parted with Pugachov and began to roll out his own business.

Margarita Veremeenko’s personal profile in social networking site LinkedIn says she runs the investment department at Central Commercial Bank. She is 25 years old and a 2006 graduate of the Faculty of International Business and Business Administration, the Moscow State Institute of International Relations, said the MGIMO graduate web site.

Fitch Ratings analyst Vladimir Markelov said the lender did not inform the agency of the fact that Sergey Veremeenko gifted half of the bank to his daughter. This news has no impact on the bank’s rating, as the rating takes no account of possible support from the shareholders, he added.