Andrey Borodin was born on May, 24, 1967, in Moscow.


In 1991 he graduated from the Moscow Finance Academy under the Government of the Russian Federation. He specialized in international economics and finance

In 1985—1987 he served in the Soviet Army.

In 1991—1993 he worked for Dresdner Bank AG in Germany.

In 1994 he was appointed an adviser to the mayor and the Moscow city government on financial and economic issues.

In 1995 he co-founded and became president of the Bank of Moscow. He is also a co-owner of the bank.

In 1996 he joined the board of directors of Podolsk non-ferrous metals plant (JSC), and also headed the board of directors of the commercial bank “Ogni Moskvy” Ltd. and of the "Evening Moscow" (Closed JSC).

In 1997 he joined the board of directors of the commercial bank “Mosvodokanal”.

Since 1997 he has been a chairman of the board of directors of the investment company "Troika Dialog" (Closed JSC).

In 2000—2009 he was a chairman of the board of directors of the “Moscow Insurance Company” (JSC). In 2009 he handed the position over to Yuri Gorbatov but remained on the board of directors.

At the end of the second quarter of 2008 the Profile magazine called him one of the ten most influential financial experts. He ranked fifth in the 2010 list of top executives by the Kommersant newspaper in the category “Commercial banks”. In 2010 he ranked 77th in the “100 richest businessmen of Russia” list by Forbes, with 900 million dollars.

Public and political activity: Vie-president of the Association of Russian banks. Member of the council of the Moscow Bank Union. Member of the exchange council of the Moscow Stock Exchange. Coordination council chairman of the Russian Union of Industrialists and Entrepreneurs in the Central Federal district of the Russian Federation. Member of the Board of Governors of the Church Scholar Center “Orthodox Encyclopedia”. Member of the Board of Governors of the Finance Academy under the Russian Federation Government. Member of the Board of Governors of the National  History Center project «Serving the country: names and events».

Awards: Order of Friendship (2007), Medal of the Order of Merit for the Motherland of the second degree (1997), Medal in honour of Moscow’s 850 anniversary, Ministry of Defense Medal “Admiral Kuznetsov”, Medal “60th anniversary of the victory in the Great Patriotic War” (2005), Order of Saint blessed Prince Daniel of Moscow of the third degree, Order of the Reverend Saint Sergius of Radonezh of the second and third degrees.

Source: Wikipedia




Andrey Borodin joined the team of Moscow’s mayor in 1994 as a financial and economic advisor. It is Yury Luzhkov who played a crucial role in this outstanding career achievement. No one before Borodin had ever received such a promotion.

Be it because of Borodin’s talent or because of the opportunities given to him ‘from above’, the Bank of Moscow did very well and during the period from 1996 to 2003 went up from the 47th to the 8th position on the list of top-equity Russian banks. The Bank of Moscow grew into a kind of financial industrial group. The bank co-founded 8 banks and Moscow insurance company, and also bought stake in a number of firms, including Mostatnafta Oil Company, Moscow inter-republican winery, Mikoyan meat processing factory and Pushkinskay Ploshad printing plant. Borodin maintained a long-term business partnership with Elena Baturina, his bank being a backbone financial agent of the Inteco. 

Source: Kompaniya, 02.10.2004 

Close ties to the city council enabled the Bank of Moscow to work with the funds of city budget and public services. This was a force behind the rapid development of the financial institution. As one of the experts put it, ‘the situation is obvious: if Yury Luzhkov is to step down, there is no future for the bank’.

Source: Finans magazine, № 06 (241) 13—19.12.2004


At the end of December 2007 the Bank of Moscow announced the equity capital restructuring. President Andrey Borodin and deputy chairman of the board of directors Lev Alaluyev acquired through the umbrella companies 8.7% stake in the bank’s shares. The president’s stake (6.96%) is estimated $443.4 m, his deputy’s stake (1.74%) – $110.8 m (on February 1, 2008, at the close of trading of RTS). The CEOs own their shares through a chain of umbrella limited liability companies. The information about financing the acquisition remains confidential. The bank has no ESOP. The total bonuses of the board of directors for 3 quarters of 2008 made up $ 37 m.

Andrey Borodin and Lev Alaluev became the largest shareholders among the CEOs of state companies. This illustrates that Borodin and Alaluev are on good terms with the mayor.     

Source: Finans magazine, № 06 (241) 11—17.02.2008

The Bank of Moscow announced 20 million roubles additional issue of shares until the end of the 2nd quarter of 2009. The rise in equity enables the bank to get a subordinated loan of the same amount from the Bank for development and foreign economic affairs (Vnesheconombank). On February 1, 2009, the bank equity was 77 million roubles. Andrey Borodin and deputy chairmen of the board of directors own 23.07% stake in the bank’s shares. Yesterday Borodin confirmed his plans to enlarge his stake to block holding.

Source: Commersant newspaper № 39 (4094) 05.03.2009


No one knows, whether the president of the Bank of Moscow gets on well with new mayor Sergey Sobyanin. Most probably Borodin has already made some steps that secured him from the risks. It is rumoured that he has gathered block equity holding: he probably controls 17.32% stake as the bank’s president and 26.73% as a private shareholder (together with Alaluyev). This gives 44.05% as a total.

Source: Vedomosty newspaper, № 201  (2719) 25.10.2010  


On February 17, 2011, early in the morning a dozen of investigators of Russia’s Investigative Committee, backed by the armed militia special forse, raided the private residence of president of the Bank of Moscow Mr Andrey Borodin. In front of the host of luxury residence the documents were found and seized. Investigators also searched Borodin’s cabinet in the Bank of Moscow. The investigation questioned Andrey Borodin about how 12.5 billion roubles, owned by the city council, arrived to Mrs Elena Baturina’s private bank account in a Cyprus’ offshore.  

The investigation believes that the scheme involved a Premier Estate JSC, founded in summer 2009. The company asked the Bank of Moscow (base bank of the city council) for a loan to purchase a land plot in the western area of Moscow, in Michurinsky Prospect. The land belonged to Ramenskaya Company, the subsidiary of the Inteco. The loan “to replenish current assets” was secured by the shares of the Premier Estate. Their total price was just 10 thousand roubles (330$). After securing the credit The Premier Estate made a payment to Inteco and the money went to an offshore account of Mrs Baturina, who managed to repay 90% of her debts.

Source: Rosbalt, 17.02.2011


On February 17, 2011, a group of minority shareholders of the Bank of Moscow went to Russia’s Commercial Court. They are appealing against the decisions of the board of directors. The appeal might concern the possibility that the representatives of VTB bank become members of the board. VTB is a lead bidder for the acquisition of the base bank of the city council. The minority shareholder is acting on behalf of the president of the Bank of Moscow Andrey Borodin, VTB thinks.  The bank has already said that the appeal put ‘pressure’ on the future deal.

Source: Kommersant newspaper, № 29 (4570),  18.02.2011   


At the end of February 2011 Andrey Borodin sold his stake in the Bank of Moscow to VTB.

He continues to control a number of large companies, including Investlesprom timber holding company, which had been cofounded with the capital of the Bank of Moscow and city council.  

People close to Luzhkov say that the ex-mayor rightfully expects to get dividends from the Investlesprom profit. There are plans to sell the company to the new owners of the Bank of Moscow as a non-core asset. An ex-mayor’s colleague says, ‘One can understand Luzhkov’s pretension. He treated Borodin as if he were his son. He made him top CEO in the bank and helped him develop the financial institution, so that the bank became a key-player in the finance sector’.

Source: Life News, 10.03.2011