Troika Dialog
“The very fact of Troika’s creation was unique: In 1991 Peter Derby sought to create a Russian investment company according to international standards. Yet above all I am proud of the partnership model created at Troika. Such a model as Troika’s had not existed in Russia”.
Project Idea
“While creating Troika in the early 1990s, we positioned it as a new financial institution essential to modern Russia during the transition from planned to market economy. If there will be capitalism in the country, there will also be a stock market with its players, while our task is to make this a civilized milieu”.



Troika Dialog. Partners.
Interviews and other materials
Ruben Vardanyan, President of Troika Dialog, the coordinator of Sberbank’s recent SPO, shared with Gazeta.Ru that he considers the deal the most successful of his career. And given the high demand for the shares of the state-controlled bank, the window for new placements this year is not closed, added Vardanyan.
Today, Mr. Vardanyan, who has been head of the company since 1992, is seeking a successor. In an exclusive interview with “Expert”, the president of Troika Dialog, co-head of the corporate-investment unit, and head of wealth management at Sberbank of Russia spoke about how much longer he intends to work in the new structure and what its tasks are.
Mr. Vardanyan is a leading figure in Russia’s capital markets. He played a key role in the development of the country’s stock market, and has been named “Businessperson of the Year” by the American Chamber of Commerce in Russia. He was also cited in a Fortune magazine article on the next generation of global leaders as one of the 25 “Rising Stars” for 2001. In 2004 he won Ernst & Young’s Entrepreneur of the Year Award in Russia..
As chairman and CEO of Troika Dialog, Mr. Vardanyan is also an MMC cross-company client. He recently sat down with Momentum editor Vince Beatty to discuss the business climate in Russia and the vast opportunities it presents for MMC, as well as his experience as a cross-company client and MMC IAB member.
The former CEO of Troika Dialog, founder of Skolkovo Business School and partner of investment company Vardanyan, Broitman and Partners speaks about new projects, the logic of current events and prospects.
Ruben Vardanyan scheduled the interview for eight in the morning. He says that he usually works from eight in the morning until eleven at night. Apparently, following the sale of Troika Dialog (in October 2011) and departure from the business of Sberbank CIB (in August 2013), Vardanyan’s work has scarcely slowed down.
An entrepreneur and philanthropist, Ruben Vardanyan dislikes speaking about politics and the economy, which is today inseparably tied to politics. This is not only because he is generally very cautious in his statements: he is truly much more interested by what he directly engages in and is able to impact himself.
For a man once called the poster boy of Russian capitalism, Ruben Vardanyan is remarkably relaxed about the crisis erupting around him. Sitting in his office in one of Moscow’s premier office complexes, which he also owns, surrounded by deal trophies and other symbols of his success, Mr Vardanian’s response to the rouble’s collapse and the slide towards recession is typically Russian: it has been worse.
“It’s all relative,” he says, before counting off a list of Russian economic crises of the past quarter century since the collapse of the Soviet Union. “Looking back for 25 years being in this country I can tell you, there are always challenges.”