A list of the 25 most expensive top managers in Russia, as expected, a campaign of denials by government officials began. The priority in it, of course, remains with Igor Sechin, who until that time in court is demanding that the magazine refute the publication that the compensation of the president of Rosneft amounted to about $50 million. VTB Andrey Kostin. Which in an interview with the German newspaper Handelsblatt said that in 2013 his income amounted to 200 million rubles. The full text of the interview has not been published on the publication's website, but it is available to registered users in the PDF version of the issue.
According to Forbes, Kostin noted that his income in 2014 amounted to 240 million rubles (equivalent to $4.5 million). “This includes all bonuses. Before I joined VTB, I was a private banker and invested my personal money. But this has nothing to do with VTB,” the head of VTB said.
The figure of $ 37 million - how much was Kostin's total income for 2013 when compiling the ranking of the highest paid leaders Russian companies on Forbes versions- the head of VTB called "complete nonsense." Recall that in November the magazine published an annual ranking of the 25 highest paid executives of Russian companies. Kostin took 1st place in it with total income for 2013 at $37 million. The magazine bases its calculations on the total compensation paid key management companies in 2013 (disclosed in the statements and agreed with experts and informed sources). The valuation also takes into account “share-based payments, remuneration received from participation in the boards of directors of subsidiaries, dividends paid on the shares of the company and its subsidiaries, as well as remuneration paid abroad.” Kostin is on the boards of directors of VTB's largest subsidiaries: VTB Capital, VTB 24 and Bank of Moscow. Of the 8.8 billion rubles. remuneration that the bank pays to key management (there are about 100 of them, sources in VTB), these three banks account for only 4.2 billion rubles.
Estimated data for the rating were obtained by calculations based on the total compensation paid to top managers of companies in 2013. The result was agreed with senior management recruitment experts and other knowledgeable sources. The final valuation takes into account share-based payments, remuneration from participation in the boards of directors of subsidiaries, dividends paid on the shares of the company and its subsidiaries, as well as remuneration paid abroad.
So far, VTB representatives have not officially commented on the income estimate of the head of the bank, given in the rating.
Andrey Kostin headed the first rating of the most expensive Russian top managers published by Forbes in 2012. Then his total remuneration for the year was estimated at $ 30 million. VTB did not agree with this assessment, calling the amount of $ 30 million "taken literally" from the ceiling. The leader of the second rating of top managers was the president of Rosneft, Igor Sechin, whose income was estimated at $50 million. "The Last Conquistador") and remove it from the publication's website. During the trial, Sechin did not disclose his income. Forbes filed an appeal against the decision of the Savelovsky court. It has not been reviewed at the time of publication.
Could Kostin earn income in Cyprus RCB Bank, are wondering "Vedomosti"? In the first quarter of 2009, he placed an additional issue of 40% of the increased authorized capital in favor of a company controlled by the key management of the VTB group. This package cost $39 million, and eight months later RCB paid dividends of $130 million, more than recouping all the costs of new shareholders. In 2011, payments amounted to another $100 million. Who is among the minority shareholders, RCB does not disclose.
« I don't get anything at RCB,” says Kostin. The press service of VTB added in response to a request that costin « does not and has never received dividends from RCB Bank.”« Also, he is not and was not a shareholder, beneficiary or beneficiary of the bank's activities, the press service said in a response. “None of the members of the board of VTB Bank was and is not a shareholder, beneficiary or beneficiary from the activities of RCB.”
Costin explains that the 2014 income figures are as of December 1st and include the 2013 annual premium:« Therefore [they] are higher than in the past.” However, Kostin predicts that in 2015 there will be a significant reduction in income due to falling profits -« maybe 40 percent."
Later, the press service of the state bank clarified that until the beginning of 2015, the remuneration of key employees of the VTB group is tied to profit, and not to capitalization. Due to the record profit for VTB in 2013.in RUB 100.5 billion managers received an award. In 2014, the state bank reduced its profit by almost 20 times - to about 5 billion rubles.« It is assumed that the remuneration of members of the VTB Management Board, paid in 2015 based on the results of 2014, may approximately decrease by 10 times,” the VTB press service said in a response. In addition, since 2015, seven new performance ratios have been introduced for bank management, including importance will have a capitalization of companies, based on the state of which« shareholders will evaluate the performance of VTB management.”
Presidents and CEOs of major European banks receive compensation significantly lower than the head of VTB. For example, CEO salary Societe Generale ( SG, its assets are 5 times higher than those of VTB) Frederica Oudea has not changed since 2011. In 2013, out of the total bonus of 1.4 million euros, he received only a little more than 200,000 euros, he did not receive a bonus for 2012 at all, and in 2011 he received it with bank shares.
In the structure of income, European bankers have a long-term reward, which they can wait for several years. Erste Group and Swedbank, comparable in size to VTB, do not disclose its size, as well as larger SG and Deutsche Bank.
The total compensation of Russian bankers has always been on average higher than that of Europeans or Americans - their market is regulated. But this is well deserved: over 15 years of rapid development of the industry, our bankers have gained valuable experience in adapting to changes, have gone through several crises, and have accumulated managerial skills that are formed only in growing markets, believes Alexey Sizov , partner of Odgers Berndtson. He believes that their experience is more concentrated than their peers in developed markets. In addition, on Russian market many as generous enough employers likeSberbankand VTB, and in general a large number of players in the industry who actively compete for quality top managers. This cannot but affect their income.For the year, the rating was left by the former head of Russian Railways Vladimir Yakunin, the former chairman of the board of RusHydro Evgeny Dod, the former head of Bashneft Alexander Korsik, the former CEO of MegaFon Ivan Tavrin, the former head of the Bank of Moscow Mikhail Kuzovlev, the CEO of EuroChem » Dmitry Strezhnev. Their places were taken by VimpelCom CEO Jean-Yves Charlier, Polyus CEO Pavel Grachev, Inter RAO CEO Boris Kovalchuk, Metalloinvest CEO Andrey Varichev, Transneft President Nikolai Tokarev, X5 Executive Director Retail Group Igor Shekhterman.
Over the five years that Forbes publishes the rating of top managers, total payments to company executives have decreased by 2.3 times, and the ruble has fallen by about the same amount, the newspaper notes. . Then Andrei Kostin became its leader, whose reward for prior year was estimated at $ 30 million. VTB did not agree with the assessment: a statement was published on the bank's website, in which the assessment was called taken "literally from the ceiling." “According to the issuer's report for 2011, the entire board of VTB Bank, which is headed by Kostin, received almost 608 million rubles. According to the logic of Forbes, apparently, members of the VTB board are forced to pay extra for the honor of working in the same team with Kostin, ”VTB said in a statement.
The second rating of top managers was headed by Igor Sechin, whose remuneration was then estimated by Forbes at $50 million (taking into account the bonus that a top manager could receive for the acquisition of TNK-BP by Rosneft). Sechin in court, and he recognized the assessment as untrue and discrediting the honor and dignity of a top manager, Forbes refute it.
When compiling Forbes rating limited the circle of potential participants to the 70 largest companies by revenue in 2015, excluding state corporations and companies managed by owners. In most cases, remuneration estimates are calculated based on the total compensation paid to key management companies in 2015. The estimate takes into account such types of remuneration as short-term (salary, bonuses and other types of remuneration), long-term (share-based payments) and received from participation in boards of directors of subsidiaries. Forbes also included 2014 bonuses paid in 2015 and did not include 2015 bonuses that were paid in 2016.
MOSCOW, 4 December. /TASS/. The head of VTB, Andrei Kostin, in an interview with the German publication Handelsblatt, disclosed his income for 2013 and 2014 and called the figure of $ 37 million, which Forbes cited as Kostin's income for 2013, as nonsense.
"This figure is complete nonsense. In 2013 I received 200 million rubles and in 2014 - 240 million rubles - this includes all bonuses. Before joining VTB, I was a private banker and I invested my personal money. But this has nothing to do with to VTB," Kostin said.
In the ranking of the 25 most expensive top managers in Russia, published by the Russian Forbes in November 2013, VTB Chairman Andrei Kostin ($35 million) was named the second largest income after Igor Sechin, but bypassed the head of Gazprom Alexei Miller ($25 million).
The total income of the 25 most expensive CEOs in Russia in reporting period increased by a third and amounted to $325 million. On average, a rating participant earned $13 million.
The top ten of the rating includes the chairmen of the board of Gazprombank, Sberbank, Bank of Moscow Andrey Akimov, German Gref and Mikhail Kuzovlev, CEO ONEXIM Group Dmitry Razumov, General Director of USM Advisors Ivan Streshinsky, President of Russian railways"Vladimir Yakunin. The income of top managers, located from fourth to ninth place in the ranking, amounted to $ 15 million per year. The top 10 was closed by the chairman of the board of VTB 24, Mikhail Zadornov, who earned $ 12 million.
In August 2014, the Savelovsky Court of Moscow satisfied the claim of the head of Rosneft, Igor Sechin, against the publishers and journalists of the Russian version of Forbes magazine, as well as against the Komsomolskaya Pravda newspaper.
According to the plaintiff, the publication published in the 12th issue of Forbes for 2013 on the rating of the highest paid company executives in Russia is untrue, as well as another article about attracting a loan from Gazprombank when buying Rosneft shares. Sechin claims that these unreliable publications harmed his dignity and business reputation.
Komsomolskaya Pravda was involved as a co-defendant: immediately after the release of the rating, the online resource kp.ru released an article with a link to Forbes
Information about the income of the leaders of the largest companies has always been of great interest to the media and the public. No one knows the exact figures, so journalists can only guess how high the salaries of Russian top managers are.
Heads of the largest Russian companies, including Andrey Kostin from VTB, Igor Sechin from Rosneft, head Gazprom Alexey Miller. The only source of information in the press about their income is the Forbes magazine rating. So, according to 2015 data, Andrey Kostin is among the highest paid Russian managers in Forbes, along with Igor Sechin from Rosneft and the head of Gazprom, Alexei Miller. The fortune of Andrei Kostin from VTB in Forbes in 2015 increased by $21 million in 2014, which allowed him to take second place in the list. In 2014, Andrey Kostin, for the first time in several years, moved from a leading position in Forbes to second place. In 2011, Andrey Kostin topped the rating, in 2012 he was in second place, in 2013 he again became the first. The magazine always pays considerable attention to highly paid top managers in Russia and evaluates their condition using a specially developed system.
Interestingly, the rating data is completely different from the income data that can be obtained if we analyze the data of the company itself. Thus, in 2015, the amount of remuneration to the VTB Management Board decreased by 4 times and amounted to 399 million rubles. Thus, Andrey Kostin's income could not amount to the fantastic figures given in the magazine for this period of time. What is the real wages Andrey Kostin and other top managers of the largest Russian companies?
Journalists' assessment of Andrey Kostin's income:
This is data on the annual salary for the year, which is publicly available Forbes magazine. The rating data has been repeatedly subjected to public criticism. So, experts said that the figures, including the incomes of Andrei Kostin, Igor Sechin, cannot be the figures indicated in the magazine. The fact is that the magazine uses a survey of HR specialists to compile its rating. But Russian specialists are not involved in the search for managers for such positions and, accordingly, cannot know about the income level of the same Andrey Kostin.
The salary of the head of VTB Andrey Kostin for 2013 was, according to him, 200 million rubles. Andrey Kostin receives income from personal investments, which, in principle, have nothing to do with VTB. Therefore, the salary of Andrei Kostin, according to him, is not at all the one that Kostin VTB is represented in Forbes.
Thus, the banker disclosed the amount of personal remuneration for work as the head of VTB Bank. The financier has always loved investing and knew how to do it successfully. Therefore, Andrey Kostin's salary and total income are two different things. Andrey Kostin's income, which he receives from investing and working closely with business partners, does not relate to the amount that may be the basis for a well-known magazine to place him in a certain position.
After graduating from Moscow University, Andrei Kostin worked in the Ministry of Foreign Affairs. He was ambassador to Australia and the UK. The financier left the civil service in 1992. He began working in the capital's Russian Investment and Financial Company. Since 1993, he moved to the Imperial Bank and became a deputy head in foreign investment management.
In 1996, the financier was appointed president of Vnesheconombank, where he worked for six years.
Andrey Kostin has been working at VTB since 2002. The banker is engaged not only in financing and investments. Charity is also part of his activities.
Information about the income of the leaders of the largest companies has always been of great interest to the media and the public. No one knows the exact figures, so journalists can only guess how high the salaries of Russian top managers are.
Heads of major Russian companies, including Andrey Kostin from VTB, Igor Sechin from Rosneft, Gazprom CEO Alexei Miller. The only source of information in the press about their income is the Forbes magazine rating. So, according to 2015 data, Andrey Kostin is among the highest paid Russian managers in Forbes, along with Igor Sechin from Rosneft and the head of Gazprom, Alexei Miller. The fortune of Andrei Kostin from VTB in Forbes in 2015 increased by $21 million in 2014, which allowed him to take second place in the list. In 2014, Andrey Kostin, for the first time in several years, moved from a leading position in Forbes to second place. In 2011, Andrey Kostin topped the rating, in 2012 he was in second place, in 2013 he again became the first. The magazine always pays considerable attention to highly paid top managers in Russia and evaluates their condition using a specially developed system.
Interestingly, the rating data is completely different from the income data that can be obtained if we analyze the data of the company itself. Thus, in 2015, the amount of remuneration to the VTB Management Board decreased by 4 times and amounted to 399 million rubles. Thus, Andrey Kostin's income could not amount to the fantastic figures given in the magazine for this period of time. What is the real salary of Andrei Kostin and other top managers of the largest Russian companies?
Journalists' assessment of Andrey Kostin's income:
This is data on the annual salary for the year, which Forbes magazine provides in the public domain. The rating data has been repeatedly subjected to public criticism. So, experts said that the figures, including the incomes of Andrei Kostin, Igor Sechin, cannot be the figures indicated in the magazine. The fact is that the magazine uses a survey of HR specialists to compile its rating. But Russian specialists are not involved in the search for managers for such positions and, accordingly, cannot know about the income level of the same Andrey Kostin.
The salary of the head of VTB Andrey Kostin for 2013 was, according to him, 200 million rubles. Andrey Kostin receives income from personal investments, which, in principle, have nothing to do with VTB. Therefore, the salary of Andrei Kostin, according to him, is not at all the one that Kostin VTB is represented in Forbes.
Thus, the banker disclosed the amount of personal remuneration for work as the head of VTB Bank. The financier has always loved investing and knew how to do it successfully. Therefore, Andrey Kostin's salary and total income are two different things. Andrey Kostin's income, which he receives from investing and working closely with business partners, does not relate to the amount that may be the basis for a well-known magazine to place him in a certain position.
After graduating from Moscow University, Andrei Kostin worked in the Ministry of Foreign Affairs. He was ambassador to Australia and the UK. The financier left the civil service in 1992. He began working in the capital's Russian Investment and Financial Company. Since 1993, he moved to the Imperial Bank and became a deputy head in foreign investment management.
In 1996, the financier was appointed president of Vnesheconombank, where he worked for six years.
Andrey Kostin has been working at VTB since 2002. The banker is engaged not only in financing and investments. Charity is also part of his activities.
