November 10, 2015 / 12:13 PM / 4 years ago

Rising stars among children of Russia's elite

LONDON/MOSCOW (Reuters) - BORIS KOVALCHUK. Born in 1977, he is the son of Yuri Kovalchuk, the founder and largest shareholder of Bank Rossiya, and founder with Putin of the Ozero dacha cooperative, an exclusive lakeside settlement of weekend homes near St. Petersburg. His son Boris is CEO and chairman of the management board of state electricity holding firm InterRAO. He did not respond to a request for comment.

YURY SHAMALOV. Brother of Kirill and elder son of Nikolai Shamalov, an old friend of Putin. Yury Shamalov is deputy chairman of Gazprombank, one of Russia’s largest lenders and the owner of a strongly pro-Kremlin media group. He is also president of Gazfond, the largest pension fund in Russia. Gazfond is the largest shareholder in Gazprombank. Requests for comment from Shamalov sent to Gazfond went unanswered.

SERGEI IVANOV. Son of former KGB general and current Kremlin chief of staff, Sergei B. Ivanov. The younger Ivanov, 35, is a director of Gazprombank and has been chairman of the management board of Sogaz, one of Russia’s largest insurance companies, since 2011. Last year, the younger Ivanov told Reuters his father’s position had “only hindered” his work at Gazprombank. He did not respond to a request for comment.

GLEB FRANK. The son of Putin’s former transport minister, Sergei Frank. In 2010, the younger Frank married Ksenia, the daughter of oil billionaire Gennady Timchenko, who is an old friend of Putin. A year later, Frank, 32, joined the board of directors of Stroitransgaz, a large construction company co-owned by Timchenko. Frank also increased his stakes in Russkaya Akvakultura, a fish farming company, by buying shares from Timchenko. In June, the Russian newspaper Vedomosti reported that his 37.13 percent stake in the company was worth 1.68 billion rubles ($26 million). A source close to Frank said the young businessman had few interests connected to his father-in-law and that he had acquired the stake in Russkaya Akvakultura for a market price. The source did not say how Frank had acquired the capital to make the purchases.

IGOR ROTENBERG. Aged 42, he has acquired significant assets from his 63-year-old father, Arkady Rotenberg, a former judo partner of Putin. The older Rotenberg became a billionaire from business interests developed while Putin consolidated political power. The assets Arkady has sold to his son Igor include 79 percent of drilling company Gazprom Drilling (Bureniye); 28 percent of road construction company Mostotrest; and 33 percent in TPS Real Estate Holding. Igor Rotenberg, in a written statement, told Reuters: “Of course my father gave me a good start in business. Today I am an independent businessman and I am developing my assets with my team in a competitive, market environment.”

ROMAN ROTENBERG. Igor’s younger brother. Born in 1981, he plays ice hockey, Putin’s favorite sport. The young Rotenberg has developed ice hockey in Finland, and is vice president of the St. Petersburg SKA hockey club, whose president is Timchenko. He has also worked as a vice president of Gazprombank since 2010. He did not respond to a request for comment.

IVAN SECHIN. Son of Igor Sechin, head of the state-owned oil company Rosneft. In January, Rosneft announced that Putin had given an award to Ivan Sechin, for his “substantial contribution” to the country’s fuel and energy sector and “longstanding conscientious” work. Sechin is said by Russian media to be about 25 years old. He had been working for Rosneft as a deputy director of a department for less than a year when he got the award. He did not respond to requests for comment.

ANDREY MUROV. Son of ex-KGB general Evgeny Murov, who has run the Federal Protective Service since 2001. The service safeguards Putin, other VIPs and presidential buildings. Murov’s son Andrey, born in March 1970, is chairman of the management board of the state-owned Federal Grid Company, which is the main supplier of electricity in Russia and is listed on the London Stock Exchange. He did not to respond to a request for comment.

DMITRY PATRUSHEV. Son of the head of the Russian Federation Security Council, Nikolai Patrushev. Dmitry, 38, has headed the Russian Agricultural Bank, one of the largest state-owned banks in Russia, since 2010. He did not respond to a request for comment.

Editing By Richard Woods and Michael Williams

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