Rostec has developed a cash management mechanism. Andrey Sapelin will head the company 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 volume 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 in 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 mechanism of intracorporate financing is to increase the liquidity, solvency, financial stability of the group's organizations, as well as to reduce the cost and volume of external debt financing.

“The main economic effect of conducting intra-corporate financing operations is received by Rostec organizations: borrowers - in the form of savings from a decrease in interest rates on borrowed financing from the corporation's pool-leader, lenders - in the form of additional income from an increase in the rate of placing temporarily free funds in the pool-leader corporations ", - explained the general director of" RT-Finance "Andrey Sapelin.

The volume of attracted funds from the pool as of November 1, 2016 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 State Corporation's pool and provide financing to its organizations.

The internal corporate cash management system created at Rostec 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-owned companies and state corporations in terms of centralizing the management of the group's financial flows and is the most efficient way to use the temporarily available funds of the group's organizations.

RT-Finance is a 100% subsidiary of the State Corporation. It was created in 2015 to implement and develop the financial, budget, dividend, credit policies of Rostec, as well as holdings and direct management organizations that are part of the State Corporation. The tasks of RT-Finance include centralizing the management of the financial flows of the group of companies, maximizing the return on investment of available financial resources, minimizing the cost of interest on loans with maximum benefit for the group of companies, and distributing resources within the corporation.

Banking structures in which the Corporation owns a block of shares, pension funds, insurance subsidiaries will be transferred to the management loop of RT-Finance. The purpose of the company is to consolidate core financial assets to improve the efficiency of their management, to create synergies between financial, banking and insurance services.

History

2016: Centralization of redistribution of finances of Rostec

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

As of November 1, 2016, the amount of funds raised by RT-Finance is ~ 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 between corporation organizations, and / or performing a consolidated placement in highly reliable financial market instruments.

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

According to the company, by November 2016, RT-Finance had concluded 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 of the Russian Federation and the directives of the Government of the Russian Federation on the creation of unified treasuries in state-owned companies and state corporations in terms of centralizing the management of the group's financial flows and is the most efficient way to use the temporarily available funds of the group's organizations.

Andrey Sapelin from VEB has been appointed general director of RT-Finance, a subsidiary of the State Corporation Rostec. He will retain the position of the chief adviser to the chairman of Vnesheconombank, and will also remain a member of the board of directors of Avtovaz on the part of VEB. TASS was informed about this in the press service of the company.

As CEO of RT-Finance, Sapelin will focus on the consolidation of financial assets within the corporation and the development of corporate financial services.

His responsibilities will also include the formation of the corporation's financial statements in accordance with IFRS standards (in 2016 the corporation will for the first time switch to full-fledged reporting in accordance with international standards), attraction of 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 Avtovaz's board of directors from VEB.

Earlier Sapelin, from 2013 to October 2016, was the first deputy chairman of VEB, before that for six years he also held executive positions at Vnesheconombank. While working at the Institute for Development, 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 groups that implemented projects for the construction of the largest terminal for the shipment of oil products in the port of Ust-Luga, the reconstruction of the Khabarovsk oil refinery, the construction of the largest polypropylene production complex in Tobolsk, and a nitrogen fertilizer production complex in Mendeleevsk. Supervised the bank's financing of major industrial projects.

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

Andrey Sapelin held the position of First Deputy Chairman of VEB since 2013. Prior to that, he held executive positions at Vnesheconombank for six years. During his tenure 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 groups that implemented projects for the construction of the largest terminal for the shipment of oil products in the port of Ust-Luga, the reconstruction of the Khabarovsk oil refinery, the construction of the largest polypropylene production complex in Tobolsk, and a nitrogen fertilizer production complex in Mendeleevsk. Supervised the bank's financing of major industrial projects.

The appointment of Andrey Sapelin to the position of CEO 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 the consolidation of financial assets within the corporation and the development of corporate financial services. He will also be responsible for attracting investment resources in order to implement the corporation's strategy, and prepare financial statements in accordance with IFRS. Recall that in 2016, the corporation will for the first time switch to full reporting in accordance with international standards.

“The appointment of Andrey Sapelin as CEO of RT-Finance is an important step for the development of the corporation's financial assets. With 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 Rostec CEO Sergei Chemezov. “I am confident that a deep understanding of the specifics of the State Corporation and experience in banking structures will significantly improve the level of management of the corporation's financial organizations.”

Andrey Sapelin will retain the position of the chief advisor to the chairman of Vnesheconombank, and will also remain a member of the board of directors of AVTOVAZ on the part of VEB.

In the future, the banking structures in which the corporation owns a block of shares, pension funds, and insurance subsidiaries will be transferred to the management loop of RT-Finance. The goals of the company are to consolidate core financial assets to improve the efficiency of their management, to create synergies between financial, banking and insurance services.

Sapelin Andrey Yurievich

Education

in 1987 graduated with honors from the Moscow Order of Lenin and the Order of the October Revolution from the Aviation Institute named after S. Ordzhonikidze with a degree in Organization of Mechanized Processing of Economic Information.
Graduated from the Business School of the Moscow State Institute of International Relations of the Russian Ministry of Foreign Affairs in 1991.

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 for Foreign Trade (Vneshtorgbank).

2007-2011 - Head of the Corporate Finance Department of the Investment Banking Directorate, Director of the Industry Department of the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank).

since July 2011 - Deputy Chairman of the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank). During his tenure 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 groups that implemented projects for the construction of the largest terminal for the shipment of oil products in the port of Ust-Luga, the reconstruction of the Khabarovsk refinery, the construction of the largest polypropylene production complex in Tobolsk, and a 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 General Director of the subsidiary structure of the State Corporation Rostec RT-Finance. Andrey Sapelin will retain the position of the chief advisor to the chairman of Vnesheconombank, and will also remain a member of the board of directors of AVTOVAZ on the part of VEB. As CEO of RT-Finance, Andrey Sapelin will focus on the consolidation of financial assets within the Corporation and the development of corporate financial services. His responsibilities will also include the formation of the Corporation's financial statements in accordance with IFRS standards (in 2016 the Corporation will for the first time switch to full-fledged reporting in accordance with international standards), attraction of investment resources in order to implement the Corporation's strategy and ensure the liquidity of the group 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 to the Fatherland, II degree.

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