Deutsche Bank, despite the objections of his reputation Committee in the US approved the sale of expensive real estate in Silicon valley, son of former energy Minister Igor Yusufov, Vitaly
Deutsche Bank, despite the objections of his reputation Committee in the US approved the sale of expensive real estate in Silicon valley, son of former energy Minister Igor Yusufov Vitaly. About it writes The Wall Street Journal, citing documents and sources.
In 2017, the division of Deutsche Bank asset management put up for sale in Menlo Park, where in early 1950-ies was constructed office complex for Sunset Magazine. The offer from the American company Yusufov Willow Project came in the spring of 2018: $72 million in cash with $15 million and the terms of the deal in 15 days.
DB had to negotiate the most favourable for the customers a deal, but feared that she would attract attention to the arrival of Russian money in the USA, from internal communications managers. Yusufov in the Bank called «politically exposed person», contacts which require further testing.
The deal, approved by the Committee on reputational risks, was closed in may 2018. However, she raised doubts among some top managers, including the Manager responsible for compliance with anti-money laundering legislation in the United States. Interestingly, the dispute arose when the U.S. Congress studied the Russian communication Bank.
Doubts as to whether the approval of the transaction, in particular, was expressed by the Manager responsible for combating money laundering in the United States. In the end the issue was decided to make the level of the American Committee for DB reputational risks. The to approve the transaction refused, citing the political climate, the danger of a new anti-Russian sanctions and the risks for the Bank. The team responsible for real estate transactions, contested the verdict, and in the end the dispute was solved during a conference call with the participation of the whole group of top managers of DB in Frankfurt and London. The discussion participants came to the conclusion that the risks incurred by a transaction are insufficient to abandon it, and noticed that Yusufov is not under sanctions.
Vitaly Yusufov forty years. In 2016, Forbes took it to the top 200 richest Russians, and estimated his fortune at $400 million.
Previously, he was assistant Director General of the company «Gazprom export», the Director of NordStream, a branch in Moscow. In 2009, his company Nordic Yards has bought the German shipyards of Wadan Yards for EUR 40 million and sold in 2016, Genting Hong Kong for 230 million euros. In 2010 his company «Aykominvest» together with the related defense of «Voentelekom» established company «Osnova Telecom», which is engaged in the development of the network in the LTE standard.
In 2011, Yusufov bought left Russia Andrei Borodin 19.9% of shares of «Bank of Moscow» taking this credit in the «Bank of Moscow» bail shipyards Nordic Yards. Borodin claimed that the father of the businessman Igor Yusufov participated in the negotiations on the sale of the Bank from the beginning. In September 2011 Yusufov Jr. sold his stake in «Bank of Moscow», VTB Bank.