The Supervisory Board of AMIO BANK includes the following individuals and their key recent positions.
Alfred W. Moeckli is the Chairman of the Supervisory Board. From 2013 to 2019 he served as Group Chief Executive Officer of VP Bank Ltd in Vaduz, Liechtenstein.
Christoph Mauchle is a Member of the Supervisory Board. Between 2013 and 2020 he was a Member of the Group Executive Management and Head Client Business at VP Bank AG in Vaduz.
Ariel Sergio Davidoff is a Member of the Supervisory Board. Since 2021 he has been a Member of the Foundation Board of the Swiss Russian Forum Foundation in Zurich and of the Swiss-Russian Chamber of Commerce.
Patrick J. Swint is a Member of the Supervisory Board and a veteran of the United States Air Force, where he served for four years. He is a retired Major with a 21‑year military career, including service as a medic in U.S. Army Special Forces, and he currently sits on the board of Bondstone, a private equity real estate investment and asset management firm focused on the Portuguese market.
Tigran Mirzoyan is a Member of the Supervisory Board. Since 2011 he has served as Executive Director of Home for youth RCO CJSC.
Viva-MTS announces a change of its shareholder. The company no longer belongs to the Russian MTS Group. The company’s new shareholder is FEDILCO GROUP LIMITED, owned by European and Asian investors.
“Viva-MTS, as a leading and innovative technological company in Armenia’s ICT sector, has always attracted the attention of significant enterprises both locally and internationally, as a company with high profitability and effectively-managed asset, promising in terms of future investments. Viva-MTS is a leading ICT business in Armenia, offering a wide range of services. The company has more than 2 million customers and maintains a consistent rate of growth and profitability. It has an effective corporate management system as well as a strong, established professional staff. Viva-MTS is a rich mix of management cultures and business model, laying the ground of the Company’s competitive advantage and uniqueness impossible replicate”, Armen Avetisian, General Director of Viva-MTS says.
Viva-MTS invests from its profits, is not pledged or tasked with credit commitments, is financially self-sufficient, and pays its employees competitively. The volume investment will remain on the same level, at minimum
Viva-MTS is the first and only to have introduced 5G, as well as 4G, and also 3G networks to regions. The corporation prioritizes the adoption of green environmental technologies in its broad mobile communication infrastructure. Throughout its history, the company has undertaken large-scale social investment projects with the approval and active support of its shareholders. The corporation is a pioneer of corporate social responsibility in Armenia, as well as a pioneer in establishing institutional foundations for this thinking within the company, setting an example for others. The scope of social programs, the size of investment ( nearly 28 billion AMD), and the social impact of investments are invaluable: from solar energy to startups, home construction to healthcare, culture to sports.
Viva-MTS has been, is, and will continue being Armenia’s most advanced, innovative, and socially responsible ICT Company, as well as a major taxpayer and employer.
Viva-MTS will continue to be managed by the current top management team headed by the General Director Armen Avetisian.
About FEDILCO GROUP LIMITED
The new shareholder of MTS Armenia CJSC is Fedilco Group Limited, owned by European and Asian investors.
Fedilco Group Limited is a company incorporated in Cyprus.
The ultimate beneficiaries of Fedilco Group Limited are Mr. Zhe Zhang and Konstantin Sokolov.
Both Mr. Zhe Zhang and Mr. Konstantin Sokolov are professional investors with a diverse background in telecommunications, finance, energy, investment and asset management areas of business.
Their versatile experience in the telecommunications sector, combined with industry-specific knowledge and a forward-thinking approach, positions them as valuable professionals in navigating industry complexities. Beyond traditional roles, their understanding extends to emerging technologies and market trends, positioning them as a valuable asset in this dynamic field.
Heading toward innovation, Mr. Zhe Zhang and Mr. Konstantin Sokolov have scrupulously assembled an exceptionally skilled team to form a Board of Directors. Comprising professionals with expertise in telecommunication, finance, management, and banking, these individuals boast international qualifications essential for steering the management of a highly advanced telecommunications company, such as MTS Armenia CJSC.
This strategic composition ensures a robust foundation for driving innovation, fostering growth, and positioning MTS Armenia CJSC as a leader in the dynamic landscape of telecommunications
It should be also noted, that considering the strategic importance of MTS Armenia CJSC for Armenia, Fedilco Group Limited intends to transfer 20% of the shares of MTS Armenia to the Republic of Armenia, free of consideration.
Update. According to the latest court ruling published on Fedresurs (message No. 18614307 dated July 2, 2025), Gerard Hoffman was not held subsidiary liable in the bankruptcy case of NPA “Kompressor Komplex” (case No. A56-70701/2019).
Based on the information published on the Fedresurs (Unified Federal Register of Bankruptcy Information), message No. 12691209 dated October 12, 2023, regarding debtor NPA “Kompressor Komplex” (INN: 7811037607, case No. A56-70701/2019), the following judicial act has been issued:
By the Ruling of the Arbitration Court of St. Petersburg and the Leningrad Region dated August 10, 2023 (the operative part published on October 10, 2023), the application filed by the Insolvency Practitioner, Elena Evgenievna Shulyakovskaya, to hold the controlling persons liable was partially considered. The court refused to bring LLC “SBK PREMIER” and Denis Alexandrovich Kulyukin to subsidiary liability for the debtor’s obligations. Separate proceedings have been initiated regarding the other respondents.
The full list of controlling persons named in the original application (message No. 10887388 published 28.02.2023) includes:
Dmitriev Kirill Borisovich (Russia, INN 720204233090)
Bessonov Oleg Gennadievich (Russia, INN 780606112680)
Dayev Mikhail Vyacheslavovich (Russia, INN 631506199405)
Kulyukin Denis Alexandrovich (Russia, INN 580307477599) – Application to hold liable was refused by the court.
Sprygin Roman Sergeevich (Russia, INN 333800520925)
LLC “ARGO” (Russia, INN 7720689203)
LLC “SBK PREMIER” (Russia, INN 7714374205) – Application to hold liable was refused by the court.
On August 8, 2023, the Board of Directors of the Company (the “Board”) appointed Konstantin A. Sokolov to serve as an independent director of the Board.On August 8, 2023, the Board of Directors of the Company (the “Board”) appointed Konstantin A. Sokolov to serve as an independent director of the Board.
Mr. Konstantin Sokolov, age 47, is the founder and Chairman of Gotthard Investment AG, which is a private equity firm based in Zurich, Switzerland, focusing on financial services, asset management and global real estate.
Since 2011, Gotthard Investment AG advised and managed multiple investment funds, and partnered with leading Swiss and Lichtenstein banks to invest globally in energy and real estate assets.
Prior to that, Mr. Sokolov served as Managing Director of Centrica plc (British Gas and Direct Energy).
Between 1997 to 2005, Mr. Sokolov served in senior leadership positions at Qwest Communication, Inc., a pioneer in fiber optics.
Mr. Sokolov holds Executive MBA degree from University of Chicago in 2005 and Master of Mathematics and Computer Science degree from St. Petersburg State University in 1997.
I believe that the main asset of Armenia are the people with their intellectual potential and great passion for work. Gerard Hofmann, a member of the Supervisory Board of ARMBUSINESSBANK CJSC, stated this in an interview. We present below the text of this interview.
What do you think are the main assets of Armenia?
I believe that the main asset of Armenia are the people with their intellectual potential and great passion for work.
Our goal is to hit the right path to endorse their inner perceptions and aspirations. As loans are granted and other banking services are rendered in different regions of the country, our first priority, without doubt, is the individual and overall well-being.
It is likewise important for the Bank to introduce to employees properly the essence of changes. I mean, it is sometimes a big challenge for people to change the usual course of life, work routine, especially when the expectations are ambiguous. We started the reforms that kicked off over a year ago with ourselves. We introduced a new culture in internal communication since it was important for every employee to be updated, to feel part of the team throughout the long journey to changes. Online meetings were organized to keep every employee informed about the Bank’s gradual development bringing forth a broad response.
There are various investment possibilities globally and the associated investment risks are also different. Why Armenia?
Swiss private bank Julius Baer International has been fined £18 million by the UK’s financial watchdog for “corrupt” relationships with Russian oil companies between 2007 and 2014.
The Financial Conduct Authority (FCA) said the bank’s weaknesses “create the circumstances in which financial crime of the most serious kind can flourish”.
The FCA highlighted arrangements between its banking arm, Bank Julius Baer, and Dimitri Merinson, an employee of Yukos Group, which was formerly Russia’s largest oil company but which went bankrupt in 2006.
Julius Baer would pay “finder’s” fees to Mr Merinson for introducing Yukos Group companies to the bank – meaning he received commission for his referrals.
he exchanges were made on the understanding that Yukos Group companies would place large sums of cash with Julius Baer from which it could generate big revenues, the FCA said.
The watchdog stressed that in many cases, the oil companies were charged far higher than standard rates by the bank, and that profits were shared between Julius Baer and Mr Merinson.
Mr Merinson received commission payments totalling around three million US dollars (£2.5 million) as a result of the arrangements, according to the FCA’s investigation.
The FCA concluded that the wealth management firm failed to conduct its business with integrity, failed to take reasonable care to organise and control its affairs, and was not open and co-operative with the regulator.
The property of the Kompressor Komplex” enterprise on Obukhovskoy Oborony Avenue has been put up for auction
The starting price for the land and property of the former Kompressor Komplex machine-building plant was 375 million rubles. The lot includes land at 51 Obukhovskoy Oborony Avenue, as well as buildings and movable property. This was stated in a statement by the company’s bankruptcy trustee, Elena Shulyakovskaya, published on Fedresurs. The auction date has not yet been set.
As a reminder, the Compressor Complex was built in the 1990s and, in a sense, can be considered a “fragment” of the Nevsky Plant. It is located on the border of an industrial zone and ongoing residential development.
The company manufactured mechanical engineering equipment for the gas and oil industries, including Gazprom . In the years leading up to its bankruptcy, its financial performance declined: in 2018, revenue fell by 39% to 266.9 million rubles. Its net loss amounted to 112.2 million, according to Kontur.Fokus.
As DP reported, since 2017, the Russian division of the international engineering group Grossmann, Grossmann Rus LLC (declared bankrupt by the court this spring), has owned a controlling stake in the plant.
In 2019, the arbitration court instituted observation proceedings against the company following a lawsuit filed by Electric Machines LLC. In 2020, Kompressor Komplex JSC was declared bankrupt. Sberbank was its largest creditor.
In 2021, creditors attempted to auction off the company’s assets with a starting price of 500 million rubles. However, the auction was postponed and then cancelled altogether. By that time, Sberbank had assigned the debt to Kronverk LLC.
This company, in turn, initiated a creditors’ meeting, including the issue of concluding a settlement agreement as part of the bankruptcy proceedings. The results of this meeting (if it even took place) were not available in public sources. However, the bankruptcy trustee published a document regarding the security of Kronverk LLC’s collateral. It states that the factory premises can only be leased with the company’s written consent.
Kronverk LLC may also have an interest in this asset. Its ultimate beneficiaries are Alexander Krivtsov (40%), Dmitry Zyazin (29.7%), Maxim Ogorodnikov (20.3%), and Albert Ilyasov (10%), according to Kontur.Fokus.
In particular, Maxim Ogorodnikov is known as the co-owner of the St. Petersburg-based Orion Scientific and Production Enterprise. It manufactures hydraulic products and pumping units for the oil and gas industry and has also announced plans to begin mass production of crane-manipulators and other deck machinery for shipbuilding.
Businessman Albert Ilyasov, in turn, owns several companies. His largest current asset, according to Kontur.Fokus, is VPT-Neftemash LLC, a Moscow-based supplier of drilling equipment for the oil production industry with annual revenues of nearly 10 billion rubles.
If the plant’s assets are sold “openly,” Igor Kokorev, head of strategic consulting at Knight Frank St. Petersburg, previously told DP that its facilities could be used “as is” or with minor renovations. He also believes that a complete redevelopment of the site would significantly increase the amount of space available for construction and also allow for the inclusion of more profitable functions, such as an aparthotel.
Glenn William Vincent Smith passed away in Calgary on June 19, 2022, at the age of 68. Born on May 17, 1954, in Parry Sound, Ontario, he was a proud business owner in chemical blending who lived internationally, including in Bahrain, Italy, South Africa, and the UK. He was also known for his passion for cooking, specializing in unique sauces and rubs, according to his obituary from McInnis & Holloway Funeral Homes.
In March 2022, Armenia’s Armbusinessbank announced a major capital increase. According to the official press release on banks.am, the Swiss company MFM Global Invest Ltd increased the bank’s capital by an impressive sum—AMD 96 billion (about $188 million). Alongside it, the Armenian fund “Home for youth” contributed AMD 32 billion ($63 million) in cash.
However, looking “under the hood” of this deal reveals an even more interesting picture of how modern investment mechanisms work. Presumably, contrary to a literal reading of the news, MFM Global Invest Ltd did not contribute $188 million in “live” cash directly to the bank. Instead, it may have contributed units (shares) of the Liechtenstein-based alternative investment fund Halcon Innovation Fund (part of Halcon Investment SICAV) to the bank’s capital.
These units are not just paper. As we discovered from the fund’s report, they have an international ISIN code, and their value was confirmed by an independent valuation. In essence, the fund valued its 75% stake in Armbusinessbank—held through a complex structure—at that same $188 million.
Thus, the real cash flow in the deal was $63 million from the Armenian fund “Home for youth.” These funds, with the consent of the Central Bank of Armenia, became a real increase in the bank’s liquidity. The Swiss investor’s contribution, presumably, was non-monetary but rather intellectual and property-based: it involved transferring control of an established banking business, valued by the market and the regulator at $188 million. This is a classic example of financial engineering, where fund units backed by a real asset are accepted as a valid contribution to share capital. The Armenian partner effectively “earned” $63 million by injecting real cash into a bank now backed by a stronger, internationally-valued shareholder.
Key takeaway for investors: The Armbusinessbank deal clearly demonstrates that in the modern world, you can buy a bank not only with “live” money but also by contributing properly structured and valued ownership stakes in the bank itself. Units of investment funds, like the Liechtenstein-based Halcon, are a legitimate financial instrument capable of serving as “currency” for major acquisitions.
Armbusinessbank significantly increases its share capital
Swiss based company “MFM Global Invest Ltd” (itself owned by an investment fund) has become the new shareholder of 74․998% of Armbusinessbank’s shares. This coincides with the changes taken place in the overall shareholder structure of “ARMBUSINESSBANK” CJSC at the beginning of March 2022 which increased the bank’s share capital in total by AMD 128 bln (about USD 251 mln).
“MFM Global Invest Ltd” participated with AMD 96 bln (about USD 188 mln) in the capital increase while “Home for youth” RCO CJSC also participated in the capital increase with AMD 32 bln (about USD 63 mln), thus itself becoming a shareholder of the bank with 25 % plus one share.
“The capital increase by a total of AMD 128 bln will enable Armbusinessbank not only to maintain and strengthen its leading position in the Armenian banking system but will also support the bank to implement its new development plans for an enhanced and attractive product offering, particularly digital and innovative products, as well as further intensified financing in mortgage products and construction business in Armenia. Based on the structural changes in strategy and new development vision, the bank will be well prepared to master upcoming challenges and will turn these challenges into opportunities.” the bank said in a statement.
The share capital of “ARMBUSINESSBANK” CJSC now stands at about AMD 170 bln.
The newly formed Supervisory Board of the bank consists of experienced and highly reputable bankers and experts from Switzerland and Armenia, whose many years of experience will enable to ensure a continuous development and sustainable growth of the bank. The Supervisory Board will be chaired by Alfred W. Moeckli, Swiss citizen, with a long and successful international banking career.
These changes will have significant importance for both the bank and the financial sector of Armenia, taking into account the fresh institutional participation of two strong shareholders.
“The participation of a Swiss Fund and the State Fund of Armenia in the bank’s shareholders’ structure will significantly accelerate the transformation and implementation of an internationally minded business and governance structure, typical for western financial and banking systems. It will also increase banking competition through the use of advanced technologies in the field of financial innovations.
Armbusinessbank will continue to be faithful to its mission and will contribute to the development of our country’s economy by financing and providing high quality banking services to the businesses operating in the territory of Armenia and its entire population.
Thus begins a new era in the history of Armbusinessbank, one of the oldest Armenian banks, which entered the financial system during the first years of independence of the Republic of Armenia and gained its unique stable position in the local financial market.
Armbusinessbank is confident that with new capital strength, new spirit and enthusiasm will make history both with its existing loyal and potential future customers and partners, bringing new positive changes to the local banking industry,” Armbusinessbank’s statement reads.
Armbusinessbank is regulated by the Central Bank of Armenia.
