Rostec has developed a cash management mechanism. Andrey Sapelin to head RT-Finance JSC RT Finance Board of Directors

Rostec has created a centralized system for the redistribution of funds within the group, implemented on the basis of RT-Finance. As of November 1, 2016, the amount of funds raised by RT-Finance amounted to about 7.7 billion rubles. On a daily basis, operations are carried out to attract temporarily free funds to the pool and provide intra-corporate financing.

On the basis of RT-Finance, a mechanism has been introduced that allows, using loan agreements, to accumulate temporarily free funds of corporation organizations on the accounts of RT-Finance. Further, these funds can be redistributed between Rostec organizations or placed in highly reliable financial instruments.

The purpose of the implemented intra-corporate financing mechanism is to increase liquidity, solvency, financial stability organizations of the group, as well as a decrease in the cost and volume of external debt financing.

"Basic economic effect Rostec organizations receive from intra-corporate financing operations: borrowers - in the form of savings from lowering interest rates on attracted debt financing from the corporation's pool leader, lenders - in the form of additional income from an increase in the rate of placement of temporarily free cash in the pool leader of the corporation,” explained Andrey Sapelin, CEO of RT-Finance.

As of November 1, 2016, the amount of funds raised by the pool amounted to about 7.7 billion rubles. To date, RT-Finance has concluded more than 340 agreements with Rostec organizations to attract temporarily free funds to the pool of the State Corporation and provide financing to its organizations.

Internal Corporate Governance System Created at Rostec in cash ensures the execution of the instructions of the President of Russia and the directives of the Russian government on the creation of unified treasuries in state companies and state corporations in terms of centralization of management financial flows group and is the maximum effective way use of temporarily free funds of the group organizations.

RT-Finance is a 100% subsidiary of the State Corporation. It was created in 2015 to implement and develop the financial, budgetary, dividend, and credit policies of Rostec, as well as holdings and directly managed organizations that are part of the State Corporation. The tasks of RT-Finance include the centralization of the management of the financial flows of the group of companies, the maximization of profitability from investing free financial resources, minimizing the cost of interest on loans with the maximum benefit for the group of companies, the distribution of resources within the corporation.

The banking structures in which the Corporation owns a block of shares, pension funds, insurance subsidiaries. The purpose of establishing the company is to consolidate profile financial assets to improve the efficiency of their management, creation of synergy of financial, banking and insurance services.

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2016: Centralization of redistribution of finance Rostec

On November 22, 2016 the press service of Rostec announced creation in state corporation centralized system redistribution of funds within the group. The project operates on the basis of RT-Finance.

As of November 1, 2016, the amount of funds raised by RT-Finance was ~7.7 billion rubles. On a daily basis, operations are carried out to attract temporarily free funds to the pool and provide intra-corporate financing.

The mechanism allows accumulating temporarily free funds of corporation organizations on RT-Finance accounts using loan agreements, redistributing them centrally among corporation organizations, and/or performing consolidated placement in highly reliable financial market instruments.

The purpose of the intra-corporate financing project is to increase the liquidity, solvency, financial stability of the group's organizations, reduce the cost and volume of external debt financing.

According to the company's statement, by November 2016, RT-Finance had entered into more than 340 agreements with the Corporation's organizations to attract temporarily free funds to the Corporation's pool and provide financing to the Corporation's organizations.

The system of intra-corporate cash management created in the state corporation ensures the execution of the instructions of the President Russian Federation and directives of the Government of the Russian Federation on the creation of unified treasuries in state-owned companies and state-owned corporations in terms of centralizing the management of the group's financial flows and is the most effective way to use the temporarily free funds of the group's organizations.

Andrey Sapelin from VEB has been appointed CEO of RT-Finance, a subsidiary of Rostec State Corporation. He will retain the position of chief adviser to the chairman of Vnesheconombank, and will also remain a member of the board of directors of AvtoVAZ from VEB. This was reported to TASS in the press service of the company.

In the position CEO RT-Finance Sapelin will focus on consolidating financial assets within the corporation and developing corporate financial services.

It will also be responsible for the formation financial reporting corporation under IFRS standards (in 2016 the corporation will for the first time switch to full-fledged reporting in accordance with international standards), attracting investment resources in order to implement the corporation's strategy and ensure the liquidity of the group as a pull leader.

Sapelin will also remain a member of the board of directors of AvtoVAZ from VEB.

Previously, Sapelin, from 2013 to October 2016, was the first deputy chairman of VEB, before that he also held senior positions at Vnesheconombank for six years. During his work at the development institute, he provided successful implementation transactions aimed at supporting the largest Russian companies during the period economic crisis 2008-2009.

In addition, he led project teams, who implemented projects for the construction of the largest oil products export terminal in the port of Ust-Luga, the reconstruction of the Khabarovsk Oil Refinery, the construction of the largest polypropylene production complex in Tobolsk, and the nitrogen fertilizer production complex in Mendeleevsk. Supervised the bank's financing of major industrial projects.

Andrey Sapelin, who previously held the position of First Deputy Chairman of Vnesheconombank, has been appointed to the position of General Director of Rostec's subsidiary, RT-Finance. The company will combine the main financial assets of the corporation.

Andrey Sapelin has served as First Deputy Chairman of VEB since 2013. Prior to that, he held senior positions at Vnesheconombank for six years. During his time at the company, he ensured the successful implementation of transactions aimed at supporting the largest Russian companies during the economic crisis of 2008-2009. In addition, he headed project teams that implemented projects for the construction of the largest oil products export terminal in the port of Ust-Luga, the reconstruction of the Khabarovsk Oil Refinery, the construction of the largest polypropylene production complex in Tobolsk, and the nitrogen fertilizer production complex in Mendeleevsk. Supervised the bank's financing of major industrial projects.

The appointment of Andrey Sapelin to the position of General Director of RT-Finance is an important step for the development of the financial assets of the State Corporation

Sergey Chemezov, CEO of Rostec

As CEO of RT-Finance, Andrey Sapelin will focus on consolidating financial assets within the corporation and developing corporate financial services. His area of responsibility will also include attracting investment resources in order to implement the corporation's strategy, preparing financial statements in accordance with IFRS. Recall that in 2016 the corporation will for the first time switch to full-fledged reporting in accordance with international standards.

“The appointment of Andrey Sapelin to the position of CEO of RT-Finance is an important step for the development of the corporation's financial assets. Possessing tremendous experience in the financial sector, Andrey Sapelin from VEB oversaw the financing of the investment program of KAMAZ and AVTOVAZ, since 2013 he has been a member of the board of directors of AVTOVAZ, - said Sergey Chemezov, CEO of Rostec. - I am sure that a deep understanding of the specifics of the State Corporation and experience in banking structures will significantly improve the level of management financial institutions corporations."

Andrey Sapelin will retain his position as chief adviser to the chairman of Vnesheconombank, and will also remain a member of the board of directors of AVTOVAZ from VEB.

In the future, banking structures in which the corporation owns a block of shares, pension funds, and insurance subsidiaries will pass into the control loop of RT-Finance. The goals of the company's creation are the consolidation of core financial assets to improve the efficiency of their management, the creation of synergy of financial, banking and insurance services.

Sapelin Andrey Yurievich

Education

in 1987 he graduated with honors from the Moscow Order of Lenin and the Order of the October Revolution Aviation Institute. S. Ordzhonikidze majoring in "Organization of mechanized processing of economic information."
In 1991 he graduated from the School of Business of the Moscow State Institute international relations Russian Foreign Ministry.

Career

1992-2001 - Deputy Head of Department, Head of Department of JSCB "Evrofinance".

2001-2007 - Deputy Head of the Department, Head of the Department, Director of the Department of Investment Operations and Services of the Investment Block of OJSC "Bank foreign trade(Vneshtorgbank).

2007-2011 - Head of the Department of Corporate Finance of the Directorate of Investment Banking Operations, Director of the Department of Industry of the State Corporation "Bank for Development and foreign economic activity(Vnesheconombank).

since July 2011 – Deputy Chairman of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”. During his time at the company, he ensured the successful implementation of transactions aimed at supporting the largest Russian companies during the economic crisis of 2008-2009. In addition, he headed project teams that implemented projects for the construction of the largest oil products export terminal in the port of Ust-Luga, the reconstruction of the Khabarovsk Oil Refinery, the construction of the largest polypropylene production complex in Tobolsk, and the nitrogen fertilizer production complex in Mendeleevsk. Supervised the bank's financing of major industrial projects.

In October 2016, Andrey Sapelin, who previously held the position of First Deputy Chairman of Vnesheconombank, was appointed to the position of General Director of RT-Finance, a subsidiary of Rostec State Corporation. Andrey Sapelin will retain his position as chief adviser to the chairman of Vnesheconombank, and will also remain a member of the board of directors of AVTOVAZ from VEB. As CEO of RT-Finance, Andrey Sapelin will focus on consolidating financial assets within the Corporation and developing corporate financial services. He will also be responsible for preparing the Corporation's financial statements in accordance with IFRS (in 2016, for the first time, the Corporation will switch to full-fledged reporting in accordance with international standards), attracting investment resources in order to implement the Corporation's strategy and ensure the group's liquidity as a pull leader.

For his great contribution to the development of the financial and banking system and many years of conscientious work, he was awarded the medal of the Order of Merit for the Fatherland, II degree.

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