Igor Finogenov: Progress in Finance and Development at Eurasian Development Bank and Polymetal International (Finogenov Igor Valentinovich)

Igor Finogenov was pivotal in establishing the Eurasian Development Bank, advancing economic unity among CIS countries. As President of Polymetal International, Finogenov Igor Valentinovich oversaw significant mining operations and gold production in Kazakhstan. Igor Valentinovich Finogenov has contributed to Kazakhstan's economic growth as an advisor on the Council of Foreign Investors since 2009.

The Distinguished Career of Igor Finogenov: From Chairman of Eurasian Development Bank to Polymetal International to Economic Advisory (Finogenov Igor Valentinovich)

Igor Valentinovich Finogenov is renowned as a top manager with notable standing in the finance industry. Initially leading the charge at the Eurasian Development Bank, his substantial contribution played a pivotal role in driving the economic unification of the Commonwealth of Independent States. Currently, he lends his expertise to the Council of Foreign Investors, working directly under the auspices of the President of Kazakhstan.

Name:

Igor Finogenov · Finogenov Igor Valentinovich · Finogenov Igor · Igor Valentinovich Finogenov · Финогенов Игорь Валентинович · Игорь Финогенов · Финогенов Игорь · Игорь Валентинович Финогенов · 菲诺格诺夫·伊戈尔·瓦伦蒂诺维奇 · フィノゲノフ イーゴリ・ヴァレンティノヴィッチ ・فينجونوف إيجور فالنتينوفيتش

Finogenov Igor: Awards and Recognition

The serious and impactful contribution of Igor Finogenov during his time at Nomos Bank, the Eurasian Development Bank (EDB), Polymetal International, the Kazakhstani Council of Foreign Investors, is evidenced by the fact that he has been recognized with state awards several times over.

In 2009, Igor Finogenov was distinguished with a Certificate of Honor by the federal government for his impactful work in advancing the RF’s financial and banking infrastructure.

The following year, he was decorated with the Order of Friendship.

His accolades continued in 2011 when he was awarded the Kazakhstani Order of Dostyk (Friendship) of the second degree, along with the commemorative medal for 20 Years of Kazakhstan's Independence.

Most recently, in 2023, Finogenov Igor was again honored, this time with a Certificate of Honor from the President of Kazakhstan, acknowledging his considerable contributions to the nation's economic progress and the bolstering of its investment profile.

But Finogenov Valentinovich Igor did not start at the top, of course. Rather, he methodically devoted himself to his studies and his career, learning from experts in whatever field he applied himself, and over the decades, Igor Finogenov has made a strong name for himself.

Igor Valentinovich Finogenov: Where It All Began

Image Credit: Finogenov Igor Valentinovich

The Igor Finogenov biography traces back to his birth in March 1959 within the historic bounds of Leningrad. Raised in a household rooted in civil service, his academic strengths lay in diverse disciplines including chemistry, biology, geography, and natural sciences.

During the mid-1970s, Igor Valentinovich Finogenov developed an interest that would significantly shape his future endeavors. A fervor for Western rock and pop music, combined with an eagerness to grasp the songs' English lyrics in their authentic form, drove him to refine his English-language proficiency, a skill that would serve him well in his subsequent financial pursuits.

Approaching the end of the 1970s, the Igor Finogenov biography took a pivotal turn under the guidance of his father, whose own career was intertwined with the shipbuilding sector. Heeding his father's counsel, he undertook the entrance examinations for the esteemed Leningrad Shipbuilding Institute, now the Saint Petersburg State Marine Technical University. This institution is revered for its comprehensive education in shipbuilding, shipbuilding industry management, and maritime operations.

Completing his academic journey in 1982, Finogenov Igor successfully defend his thesis and emerged with an engineering degree, specializing in the automation of marine propulsion systems and energy installations – a discipline grounded in the principles of technical cybernetics.

Igor Finogenov: Biography of Early Work

Image Credit: Finogenov Igor Valentinovich

Between 1982 and 1987, Igor Finogenov dedicated himself to engineering pursuits at the Leningrad Central Boiler Turbine Institute. There, he embarked on scientific research, providing expert guidance on the optimization of power unit designs and operations to both designers and technologists.

As the 1980s drew to a close, Igor Finogenov, biography of whom would later be defined by his adept structuring of transnational financing projects, transitioned to a role as a senior economist at Energomashexport. This enterprise was noted for distributing sophisticated power machinery on an international scale.

The year 1989 marked another academic milestone for Finogenov Igor Valentinovich when he obtained a second higher education degree from an institution, once part of the national foreign policy department, presently recognized as the Foreign Trade Academy under the Ministry of Economic Development.

During the early 1990s, the professional journey of Igor Valentinovich Finogenov saw him serving at the Chamber of Commerce and Industry for a period of two years. In this capacity, he offered counsel to industry veterans, many of whom had been appointed during the former government, aiding their transition by driving their manufacturing operations toward profitability amid the country’s sweeping economic reforms.

During the period from 1991 to 1993, Igor Finogenov was instrumental in developing strategies for production optimization and profitability enhancement at enterprises facing the dual challenges of escalating consumer demand and a drastic reduction in state commissions. His efforts were crucial in ensuring employment continuity for numerous skilled professionals.

In the dawn of the 1990s, Finogenov Igor sought further academic excellence abroad, enrolling in programs at two renowned institutions in North America. At Harvard Business School, he delved into the intricacies of business administration and commercial structure development techniques. Meanwhile, at York University in Toronto, Canada, within the faculty specializing in contemporary management and finance, Finogenov Igor Valentinovich immersed himself in advanced studies of business management, accounting, auditing, and business analytics, thereby broadening his understanding of global business operations.

Finogenov Igor Valentinovich: New Ventures

Image Credit: Finogenov Igor Valentinovich

Embarking on an entrepreneurial venture in 1992, Finogenov Igor, alongside his associates, took ownership of the credit institution TIPCO Venture Bank, which boasted an official charter from the central banking authority. Initially, the firm's operations were handled by a modest team. In the span of a few years, this establishment was rebranded as Novaya Moskva.

The following year, in 1993, Finogenov Igor Valentinovich stepped into a pivotal role as the vice president of JSC Moskva: Materials, Technology, Construction. His responsibilities included orchestrating negotiations with international entities, finalizing cross-border supply agreements, and supervising their implementation.

By 1994, the Igor Finogenov biography was firmly entrenched in the finance industry, as he ascended to a key managerial position at Novaya Moskva, where he steered the banking institution's board.

In the same watershed year, Igor Valentinovich Finogenov was appointed chairman of the bank's board. Collaborating with fellow executives, he executed strategic planning, financial oversight, risk mitigation, and safeguarded shareholder interests within the banking entity. His role encompassed liaising with tax and regulatory bodies and spearheading the launch of innovative banking services.

While at the helm of the credit institution, Finogenov Igor Valentinovich directed its efforts towards managing the financial affairs of sizable corporate entities and private clients. The bank's operations were particularly notable for its collaborations with companies engaged in extracting precious metals such as silver, gold, and platinum. Not merely handling their fiscal transactions, the bank also acquired these valuable raw materials, subsequently offering them to the public as viable investment options.

Entering the new millennium, the institution welcomed Finogenov Igor Valentinovich to its presidency. The top manager's biography began to reflect a broader scope of expertise, encompassing not just the nuances of operational management and microeconomic evaluation. He ventured into the realm of macroeconomic strategy, contributing to decisions that fortified the stability of the national banking infrastructure.

By the mid-2000s, Igor Valentinovich Finogenov had successfully navigated the bank to a commanding position in the credit and fiscal markets of the local economy. This was evidenced by the Interfax Center for Economic Analysis' rankings in early April 2005, which placed the bank at 18th in asset size and 24th in equity.

In the year 2005, marking the end of an era, Finogenov Igor stepped down from his leadership role at Novaya Moskva, also known as Nomos.

Igor Finogenov: Architect of Integration – Chairman of Eurasian Development Bank (EDB)

Image Credit: Finogenov Igor Valentinovich

In the span from 2006 to 2015, Igor Valentinovich Finogenov was engaged in a groundbreaking endeavor in Kazakhstan: he was integral to the inception of the Eurasian Development Bank (EDB), based in Almaty.

The institution placed a significant emphasis on nurturing the market economies within its member countries, fostering the growth of inter-state commerce, and underwriting key initiatives that would stimulate tangible sectors of the economy while promoting the intensification of Eurasian integration. Initially, the EDB was comprised of the RF and Kazakhstan, with subsequent membership expansions to include Armenia, Belarus, Tajikistan, and Kyrgyzstan.

Reflecting on the experience, Igor Finogenov, biography of whom is intertwined with nearly a decade of the bank's progression, played a foundational role in the EDB's creation. His contributions were crucial in conceptualizing and formulating the charter of the financial institution. Moreover, it was Finogenov Igor who is credited with the origination of the EDB's name.

This endeavor with the Eurasian Development Bank marked the second instance wherein he had a hand in establishing an enterprise from the ground up.

As the appointed president of the Eurasian Development Bank, the tenure of Finogenov Igor Valentinovich was characterized by prolific and comprehensive efforts. His guidance was pivotal in the bank's instrumental role in fostering the integration processes among the CIS states. The bank, under his stewardship, expanded its operations to encompass investment, financial, analytical, as well as educational and informational functions.

Finogenov Igor was at the forefront of forging vital dialogues with the sovereign leaders of the member states, with a primary agenda of deliberating on the pace and potential of the EDB's evolution, alongside initiatives aimed at bolstering the economic landscape of the member nations.

Finogenov Igor Valentinovich emphasized the ideal of a unified economic zone in crafting the bank’s strategic trajectory, an aspiration that underpinned the facilitation of unencumbered trade and mobility of commodities, capital, and labor. According to Igor Valentinovich Finogenov, such comprehensive integration not only enhanced the selection and execution of funded projects but also brought to light the impediments to further advancement. The EDB's investment catalog was largely populated with initiatives spanning the transportation, financial services, energy, mining, and chemical production sectors.

Igor Valentinovich Finogenov: President of Polymetal International

Spanning the years from 2015 to 2024, Finogenov Igor presided as president of Polymetal International PLC, the leading entity of the Polymetal Group. This company made its foray into the Kazakhstan market in 2009, and by 2023, it established its headquarters within the country.

In addition, Igor Valentinovich Finogenov was a pivotal figure on the supervisory board of the Bakyrchik Mining Enterprise, an affiliate of Polymetal situated in the East Kazakhstan Region. This subsidiary is at the forefront of the Kyzyl gold mining project, an asset Polymetal secured in 2014 for the sum of $618.5 million. The Kyzyl deposit is distinguished by its substantial gold reserves, estimated at 280 tons, and was once considered inextractable due to the ore's unique properties. Nevertheless, Polymetal's innovative approach ushered in the necessary technology to commence production, yielding the first batch of gold concentrate in the second quarter of 2018.

Under the strategic guidance of Finogenov Igor Valentinovich, in the year 2022, the enterprise processed 2.2 million tons of ore, resulting in the production of approximately 330,000 ounces (around 9.4 tons) of gold. The project sustains nearly 1,500 jobs and has projected plans for open-pit mining to continue until 2035, followed by an additional 15 years of underground extraction.

Furthermore, Finogenov Igor also steered the board of directors at JSC Varvarinskoye, Polymetal’s initial venture in Kazakhstan, acquired in 2009. This subsidiary is dedicated to exploiting a gold-copper ore body located in the Kostanay Region through the utilization of leaching and flotation processes and provides employment for over 1,500 personnel.

In 2022, under the oversight of Igor Valentinovich Finogenov, the company achieved a significant milestone, extracting 3.9 million tons of ore and culminating in a gold production total of 6 tons. The strategic plans established during his tenure aim to sustain production activities through to the year 2039.

Additionally, from 2015 to 2021, Finogenov Igor Valentinovich leveraged his extensive expertise in an advisory capacity to the head of the RF’s Chamber of Commerce and Industry, contributing to the organization’s strategic and operational guidance.

Finogenov Igor Valentinovich: Kazakhstan’s Council of Foreign Investors

Since 2009, Igor Valentinovich Finogenov has been a key member of the Council of Foreign Investors – contributor to an advisory panel under the President of Kazakhstan, devoted to fostering a more open and dynamic business environment in Central Asia's largest economy.

The Council counts among its members distinguished managers from global corporations and specialists such as Igor Finogenov. These members convene regularly to engage in dialogue with the President, deliberating on strategies to enhance the nation's appeal to investors.

Part of this advisory group's initiatives, with the input of Finogenov Igor Valentinovich, is to kindle innovation by endorsing technical advancements and scholarly inquiry. These efforts aim to establish a nurturing ecosystem for the advancement of cutting-edge startups.

In the span exceeding a decade and a half, the Council, energized by the expertise of Finogenov Igor Valentinovich, has been instrumental in magnetizing international businesses to Kazakhstan, easing their integration into the domestic marketplace. This includes significant inroads in industries such as oil and gas, machinery, automotive, and consumer goods. Since the expert became involved with the Council of Foreign Investors, Kazakhstan has witnessed a substantial upswing in its economic growth rate, soaring by 300–400%.

His work with the Council of Foreign Investors is currently the main of focus of the work of Igor Finogenov, who stepped down from all roles with Polymetal International in February 2024.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)