Sovcombank Asset Management (formerly East Capital Management Company)

The management company Vostochny Capital (LLC) is a 100% subsidiary of the bank.

History

2021: Sovcombank bought 100% of Vostochny Capital Management Company

At the end of May 2021, Sovcombank closed a deal to acquire 100% of Vostochny Capital Management Company from Modulbank. Thanks to this transaction, the buyer intends to develop an asset management business. The financial and other terms of the agreement were not announced by its participants.

Ekaterina Gantseva was appointed the new head of Eastern Capital, who joined the Sovcombank group from Alfa-Capital Management Company, where she oversaw the development of the retail ZPIFs and work with institutional investors as the head of the alternative investment directorate. She also worked at SberBank Asset Management, where she was responsible for the development of the company's retail funds as the head of the infrastructure development group, and interacted with the Bank of Russia, SRO, the exchange and NSD.

Sovcombank bought 100% of Vostochny Capital Management Company from Modulbank

According to Sovcombank on May 31, 2021, in the near future, Vostochny Capital Management Company will begin the rebranding procedure and will receive a new name - Sovcombank Asset Management. On the basis of the acquired company, Sovcombank plans to develop an asset management business, including the creation of mutual investment funds, trust management of client assets and institutional investors.

The work and integration of the management company within the Sovcombank group will be supervised by Deputy Chairman of the Board of Sovcombank Alexei Panferov.

The main task of the company will be to offer a full range of services for trust management to Sovcombank's clients, as well as to offer ready-made solutions in the format of mutual investment funds for the bank's branch network, which is undoubtedly an important competitive advantage for the development of the asset management business, "said Ekaterina Gantseva.

The key shareholder of Modulbank is Artem Avetisyan, who previously owned a large stake in Vostochny Bank, which by June 2021 also belongs to Sovcombank.^[1]

2018

Obtaining a Central Bank license to manage funds

The Vostochny bank represented by East Capital Management company obtained the license of the Bank of Russia for implementation of activities for management of investment funds, mutual investment funds (Mutual funds) and the non-state pension funds (NSPF).

Under this license, Vostochny Capital Management Company plans to bring to the collective investment market a line of mutual investment funds focused on the Russian stock and bond market, as well as closed combined funds.

Vostochny Bank, an extensive network of over 600 branches and located from Kamchatka to Kaliningrad, will be the agent for conducting operations with shares of mutual funds of Vostochny Capital Management Company.

After registering the rules of mutual funds, we plan to launch the first sales on the "home territory" for our many customers. Investment products should be light, digital, with online sales, which involves remote opening of accounts and transactions. We will work in this direction to offer customers modern opportunities when investing funds, "said Elena Kasyanova, General Director of Vostochny Capital Management Company.

Check-in

Vostochny Capital Management Company was registered in January 2018, headed by Elena Kasyanova, who has many years of experience in the field of customer asset management.

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