Bank "MENATEP", Bank "MENATEP SPb" (Russian: Банк "МЕНАТЕП Санкт-Петербург" / Банк «МЕНАТЕП СПб») and "Group Menatep Limited" were financial companies, created by Russian oligarch Mikhail Khodorkovsky. "Group Menatep Limited", the US$29 billion holding company that had indirect controlling interest in Yukos Oil Company, was later renamed, and now still exists as holding company GML with Leonid Nevzlin as principal shareholder holding a stake of around 70 percent. The other four ultimate beneficial owners owning an equal stake each are Platon Lebedev, Mikhail Brudno, and .Ruling in Yukos shareholders' $100-bln suit against Russia expected Monday, reuters.com, Jul 23, 2014Court orders Russia to pay $50 billion for seizing Yukos assets , reuters.com, Jul 28, 2014Vasily S Shakhnovsky, forbes.com. Website archived on Oct 18, 2006; web.archive.org.
A 1990s scandal related to the institution has been sometimes called Kremlingate.Verschave, François-Xavier. "Angola: pétrole, guerre, dette." Dossiers noirs (2002): 117-185.
History
Bank "Menatep" In 1986, the Center for Scientific and Technical Creativity for Youth - TSMNTP (Russian: Межотраслевой Центр Научно-технических программ — ЦМНТП) was created in Moscow by Mikhail Khodorkovsky. Center Menatep was attached to the Komsomol committee in Moscow's Frunzensky District. In 1987, Leonid Nevzlin, a software engineer, met Khodorkovsky and became a deputy director at the Center.
Later on, in December 1988, Khodorkovsky established one of the first private banks in Russia, the Commercial Innovation Bank of Scientific-Technical Progress, headquartered in Moscow and renamed in 1990 "MENATEPinvest".Khodorkovski Mikhail Borissovich, neftegaz.ru, 07 November 2000Ходорковский, Михаил, lenta.ru
In May 1990, Interbank Association "MENATEP" was registered, subsequently renamed by Khodorkovsky as International Financial Association "MENATEP" (Russian: Международное финансовое объединение МЕНАТЕП / МФО МЕНАТЕП) in 1991."Менатеп" был создан на партийные деньги, а крышу ему предоставил Квантришвили , abos.ruМФО МЕНАТЕП Company profile, kommersant.ru, 02.11.2011 Alexey Golubovich joined MFO MENATEP as the principal economist in 1992. He also was head of the investment department and the vice-president of the bank MENATEP from 1992 till 1996. In 1997 MFO Menatep became a subsidiary of Khodorkovsky's newly created, Gibraltar-registered holding company Group Menatep Limited.Structure, groupmenatep.comRussian Oil Giant To Be Listed In New York , neftegaz.ru, 15 April 2003
From 1989 to 1991, Leonid Nevzlin was president of Bank Menatep (Investment Commercial Bank of Scientific and Technical progress), after which he held other high-ranking positions, including vice chairman of the board (1993–1996) and head of public relations (1994–1996). Nevzlin also worked at Group Menatep, focusing on corporate communications, government relations, and human resources. Nevzlin became in April 1996 Vice President of Yukos, in which Menatep had acquired a 78% share in December 1995.Невзлин, Леонид lenta.ru
From May, 1989 to 1990, Khodorkovski held the position of chairman of the board of "Commercial Innovation Bank of Scientific-Technical Progress", renamed in 1990 "MENATEPinvest". In August, 1991, Khodorkovski also became chairman of board of directors of credit-financial enterprises association MENATEP. From 1992 to 1993, Andrei Loginov,AndreiLoginov, archive.government.ru was Deputy Head of the Board of the Commercial Innovation MENATEP (Bank of Scientific-Technical Progress). From 1991 to April 1996, Vladislav Surkov held key managerial positions in advertisement and PR departments of Bank Menatep.Владислав Cурков: биография , evems.ru, March 2, 2013
Both Inkombank and Bank Menatap are believed to have had business relationships with Bruce Rappaport.
In November 1994, Konstantin Kagalovsky became deputy chairman of Bank Menatep. Kagalovsky was Russia's representative to the International Monetary Fund between 1992 and 1995. He is married to Natasha Gurfinkel-Kagalovsky ( Nataliya Gurfinkel-KagalovskayaCorruption Watch: December 20, 2001, rferl.org, 20 December 2001), a former senior vice president of the Bank of New York (B.O.N.Y.). The Bank of New York was involved in the tax evasion scandal with billions of dollars channeled out of Russia from 1996 to 1999.U.S. Officials Say Bank of New York Transfers Involved Money in Russian Tax Cases, nytimes.com, September 15, 2000 (See also: Clearstream scandal) In 1999, both were accused of money laundering, however denied any wrongdoing.Business: The Economy Couple deny money laundering charge, bbc.co.uk, August 27, 1999RUSSIA MONEY LAUNDERING - BACKGROUND REPORT, fas.org, Aug 24, 1999 Natasha Gurfinkel-Kagalovsky who headed the bank's Eastern European division, decided to resign after being suspended by the bank following the yearlong federal probe of suspicious transfers of $7.5 billion or more through a series of related accounts.Executive Resigns in Bank Probe, washingtonpost.com, October 13, 1999Bank of New York Executive Resigns, nytimes.com, October 13, 1999 However, in early 2000, she filed a suit against her former employer claiming $270 million in compensation for damage to her reputation.Bank of N.Y. Case Opens in Moscow, themoscowtimes.com, March 01 2000
In November 1995, Bank Menatep took part in a mortgage auction, which resulted in its takeover of the oil company Yukos.
Alexander Zurabov w as President of Bank MENATEP from 1996 until 1997 and chairman from 1997 until 1999.Alexander Zurabov has been elected the Chairman of the Board of Directors, rustocks.com Since 1996, Ilya Yurov has been Head of Treasury at the MENATEP Bank in Moscow.Ilya S. Yurov, bloomberg.com In February 1997, Yuri Milner became deputy chairman and head of the investment division of Menatep Bank. Менатеп — биография Мильнера, kommersant.ru, 11.02.1997
Following the financial meltdown in August 1998 when Menatep defaulted on obligations and suspended operations, the bulk of operations were shifted to Bank Menatep SPb and Trust & Investment Bank. In the course of asset distribution Bank Menatep SPb grabbed the lender’s branch network and card business, while Trust & Investment Bank gained the right to deal with most of Yukos’ financial flows.NB TRUST - National Bank Trust, banki.ru, 11.02.1997
The Moscow-based Bank Menatep lost its banking license in May 1999 and was declared bankrupt in September of the same year.Russia Seeks to Liquidate Menatep, Appoints Temporary Bank Adviser, wsj.com, May 20, 1999МФО МЕНАТЕП - Company profile, kommersant.ru, 02.11.2011
Bank "Menatep SPb" In 1995, a subsidiary in St. Petersburg was founded by the Moscow Bank "Menatep" under the name of "Menatep St. Petersburg".Национальный Банк «Траст», banki.ru The commercial bank was registered by the Central Bank of the Russian Federation on November 27, 1995.About Us, menatepspb.com It had a general license of the Central Bank of Russia to conduct banking operations.Information about the bank: Акционерный Коммерческий Банк "МЕНАТЕП Санкт-Петербург - О Банке, menatepspb.com. Website archived on Jan 2, 2006; web.archive.org. In 1997, Bank "Menatep SPb" was ranked among the 50 fastest growing banks in Russia. In 2000, the Bank, acting as a company, was transformed into a joint-stock company. with YUKOS Oil Company as one of the main shareholders.Акционеры Банка, Website archived on April 6, 2001; web.archive.org.
At the end of 2000, Bank "Menatep SPb" got permission to establish a subsidiary in Switzerland - "Menatep Finance SA", located in Geneva, in order to get better access to the international capital market.Новости Банка, Website archived on April 9, 2001; web.archive.org.
As of 2001, the branch network of Bank "Menatep SPb" comprised 57 branches all over Russia.Bank "Menatep St. Petersburg" branch network. Website archived on April 9, 2001; web.archive.org.
In 2001, the bank opened a branch in Ulan Bator, capital of Mongolia. In 2002, Bank "Menatep SPb" was among the 20 largest Russian banks by all key financial indicators and the largest bank in St. Petersburg.Information about the bank: Акционерный Коммерческий Банк "МЕНАТЕП Санкт-Петербург - О Банке, menatepspb.com. Website archived on Oct 4, 2002; web.archive.org.
Vitaly Saveliev, director general of Aeroflot since 2009, was chief executive officer (Председатель правления) and as first deputy chairman of the board of directors of Bank "Menatep SPb" from November 1995 until 2001.Board of Directors , aeroflot.ru Dmitri Lebedev was from 2000 until 2001 executive officer (Заместитель председателя правления) of Bank "Menatep SPb" and from 2001 until 2003 as CEO of the bank.Дмитрий Алексеевич Лебедев , arb.ru Since November 1998, the deputy chairman of the management board of Gazprom, Pyotr Rodionov, was chairman (Председатель совета) of Bank "Menatep SPb".Руководство Банка - Совет Банка "МЕНАТЕП СПб" Website archived on April 5, 2001; web.archive.org.Родионов Петр Иванович, flb.ru
As of 2003, the management of Bank "Menatep SPb" consisted of the following: Bank's Council: Platon L. Lebedev, President of the Council. Dmitry A. Lebedev and Ilya S. Yurov, vice-presidents of the council. Igor D.Antoshin, Francois Buclez, Aleksandr E. Kabanovsky, Michael B. Kislyakov, Bruce K. Misamore, and Pyotr G. Semenenko, members of the Council. Executive committee of Menatep SPb: Dmitry A. Lebedev, chairman of the executive committee. Vladimir A. Vasiliev, Sergey A. Khabarov and Andrey I. Khorobrov, deputy chairmen of the executive committee. Olga V. Fomina, chief account officer. Maksim E. Frolov, branch manager. Sergey L. Arseniev, director of regional management.Management, menatepspb.com
As of 2003, the principal shareholders of Bank "Menatep SPb" were MFO MENATEP, YUKOS Oil, Kirov Plants, Baltika Brewery and Kontakt Manufacturing & Trading.Major shareholders of MENATEP SPb, menatepspb.com
From "Menatep" to "Trust" In 2004, OJSC Bank "MENATEP SPb" was acquired by its own management team renaming it as National Bank "TRUST" (ОАО) (Russian: Национальный банк "ТРАСТ") later that same year.Банк "МЕНАТЕП СПб" переименован в Национальный банк "ТРАСТ", uabanker.net, March 23, 2005. Website: ИНВЕСТИЦИОННЫЙ БАНК «ТРАСТ», at trust.ru. Website archived on Jan 11, 2007; web.archive.org and ИНВЕСТИЦИОННЫЙ БАНК «ТРАСТ», at trust.ru. Website archived on Aug 16, 2007; web.archive.org. The decision to change the name of the bank was made by the general meeting of shareholders of the Bank "Menatep SPb" on October 11, 2004.Банк "Менатеп СПб" официально переименован в Национальный банк "ТРАСТ", finnews.ru, 24.03.05 Ilya Yurov, since October 2003 chairman of the board of directors, announced that the new bank planned to continue activities of Corporate Banking service and services for private clients. Yurov was the Head of Treasury at the MENATEP Bank in Moscow since 1996. Since October 2003, he had been the chairman of the board of directors for the TRUST Investment Bank (TIB)TIB at a glance, tibankrus.com and National Bank TRUST (formerly TRUST National Bank).Ilya S. Yurov Chairman of the Board, National Bank TRUST, bloomberg.com
As of April 1, 2006, Trust Bank was the No. 34 among Russia’s banks in equity (5.4 billion rubles), according to the rating compiled by Kommersant Dengi (Kommersant Money). It was scored the No. 54 in net asset total (21.5 billion rubles). The holders are five individuals, with Ilya Yurov owning the biggest stake of 35.94 percent.CEO of Russia’s Merrill Lynch to Head Trust Bank, kommersant.com, Aug. 13, 2006
In November 2006, National Bank "Trust" (NB "Trust") moved from Saint Petersburg to Moscow.
Group Menatep Limited