Vladimir Kogan died

The owner of the bank "Uralsib" died at the age of 56 years.
The main owner of Uralsib Vladimir Kogan died, a representative of the bank told Vedomosti. He was 56 years old; in 2019, the Russian Forbes estimated the fortune of Kogan at $ 750 million (140th place). For more than a year, Kogan was seriously ill: last spring he suffered a stroke.

Like many businessmen of the first wave, Kogan began with trade, and development was soon added to it. He came to the banking business in the mid-90s, purchasing the St. Petersburg Industrial and Construction Bank (PSB) with partners. Several of his shares belonged to the future President Vladimir Putin. After 10 years, VTB paid $ 577 million for 75% of the bank, and Kogan became an official. There was useful his experience in construction. In 2012, he returned to the business, and after another three years - to the banking market.

Precedent named after Kogan

Uralsib is one of the largest private banks: 523 billion rubles. assets at the end of March, 19th place, according to Interfax-CEA. After the crisis, he ran into problems, and the Central Bank decided to sanitize it. Kogan set a precedent. In 2015, he was personally entrusted with the financial recovery of Uralsib; before that, only banks and corporations became sanators. Kogan appeared at the last moment, and it came as a surprise even to the Central Bank and the Deposit Insurance Agency (DIA), their employees said. “Kogan took the initiative himself,” said Mikhail Sukhov, former Deputy Chairman of the Central Bank, said. - We had a wide range of investors <...> Kogan's offer was the “cheapest” <...> but we did not look for a sanator for minimal funds. We understood the scale of the problems and were looking for a responsible investor. ” The DIA allocated for the rehabilitation of Uralsib 81 billion rubles. In 2017, the bank received another 9.5 billion rubles. For these loans, the assets of Uralsib are pledged to the DIA. Kogan owns 81.81% of Uralsib, another 11.35% from the former main owner of the bank, Nikolai Tsvetkov (failed to contact him).

Kogan's personality meant a lot, much was kept on him: because of him many clients came to the bank, under his honest name Uralsib was given money for reorganization, says one of the bankers. At one time, Kogan personally oversaw the construction of the dam in St. Petersburg, the project of which was developed back in 1977. The dam is worth more than 100 billion rubles. was commissioned in 2011

Mikhail Oseevsky President of Rostelecom

“Volodya was my friend, with whom we walked through life from the 90s. There were always a lot of bright, active and positive people around him - both a businessman and a man. He loved our Petersburg very much and was proud that he was a native St. Petersburg resident. I am very sad. ”

“As soon as Vladimir Kogan fell ill, I initiated meetings with representatives of the Central Bank and the DIA to discuss the situation,” the deputy chairman of the board of Uralsib and the son of Kogan Yevgeny said last June. - We asked if there is any concern on the part of the regulator about the current situation, we answered all the questions. We execute the financial recovery plan ahead of time, and the board and the supervisory board allow us, while the shareholder is temporarily not working promptly, to follow the strategy and execute the business plan. ”

“In connection with the death of V. Kogan, the question of replacing an investor in the process of financial recovery of Uralsib Bank is relevant,” a representative of the Central Bank said on Thursday, he may be considered after his heirs have been determined. The transfer of Uralsib to the Fund for the Consolidation of the Banking Sector, through which the Central Bank itself sanitizes banks, is not being considered, he stressed, adding that the reorganization of the bank is proceeding as planned.

As a general rule, Kogan’s heirs will have to enter the inheritance rights after 6 months, but perhaps this period will be longer: a change in the composition of shareholders with a share of 10% of the shares will require coordination with the Central Bank, says EMPP partner Oleg Bychkov.

Calling a financial recovery of Uralsib as an example of successful reorganization is still premature, given that it is calculated until 2025, ACRA analyst Irina Nosova points out. Nevertheless, a planned increase in capital adequacy ratios and an improvement in the quality of assets, which is undoubtedly a merit of a new team, is already apparent, she said. “I don’t think that the depositors will leave the bank, as the management team has been working offline for more than a year and the customers, if they didn’t leave, means they were generally satisfied. At the same time, uncertainty about the future shareholder structure may be reflected in the behavior of creditors, although we expect the regulator to actively control this process, ”Nosova said.

Andrei Kostin President of VTB

“Volodya was a great friend who loved life in all its many-sided manifestations. He was a Jew, honoring Jewish traditions, but at the same time a man with a broad Russian soul. He was a talented organizer of production and a businessman, it was impossible not to love and not respect him. ”

According to ACRA, claims and contingent liabilities to directly or indirectly related parties account for about 50% of the share capital under IFRS. If we talk about the resource base, some of the clients were also associated with Kogan: these are both related companies and business partners, but their share in liabilities is not high.

Not only bank

According to Forbes, Kogan was once interested in acquiring Uralkali and Polyus Gold from Suleiman Kerimov. But in the end, his only big project outside the banking sector was the Afipsky refinery. As a result of a complexly structured deal with Oleg Deripaska, Kogan received 57.6% of Neftegazindustrii (owned 100% of the Afipsky refinery). Soon after this, refineries improved, and by 2014, its marginality significantly exceeded the industry average.

Undermined this business the beginning of the tax maneuver in the oil industry. He was supposed to push the Russian oil refineries to modernize capacity. The Afipsky plant was planning to invest RUB 341 billion in the project, but funding was lagging behind the schedules. Kogan began to look for a buyer for the asset, and in 2019 the plant was bought by Mikhail Gutseriev (Forbes, citing sources, writes that the Kogan family received $ 20 million from the deal, but the new owner got the refinery’s debts - $ 1.8 billion).

Kogan was married, he left four children. In an interview with Kommersant in 2016, he said that when “his comrade” German Gref noticed that returning to the banking market is a risky operation, he did not consider it a risk - including because he has “two senior sons. "