Childhood and Youth
Denis Aleksandrovich Bortnikov was born on November 19, 1974, in Gatchina, Leningrad Region. His father, Alexander Vasilyevich Bortnikov, held the rank of general and has been the Director of the Federal Security Service (FSB) of the Russian Federation since 2008. Despite his father’s influential position, Denis chose to pursue a career in economics, deviating from the path of working in the FSB.
Education
After completing his schooling in 1991, Denis joined the St. Petersburg University of Economics and Finance, where he spent the next five years studying national economics. He graduated in 1996, laying the foundation for his future career in the financial sector.
Early Career
Denis Aleksandrovich Bortnikov began his career in 1996 at the Industrial Construction Bank, initially serving as a consultant in the liquidity management department. Over the years, he held various positions showcasing his capabilities in brokerage operations, authorization, and acquiring departments. In 2004, he transitioned to Guta-Bank, later becoming an advisor to the manager.
Career at VTB
In 2006, Denis joined Vneshtorgbank (VTB), marking the beginning of a long and successful association. His career at VTB saw steady progression, with roles such as department head, vice-chairman of the board, and ultimately, chairman of the board of VTB Bank North-West. In 2017, Denis Aleksandrovich Bortnikov assumed the role of chairman of the board of directors of VTB and vice president of the financial institution.
Brief Details about Vneshtorgbank (VTB)
VTB Bank, which is also referred to as Vneshtorgbank, made its debut in the Russian financial sector in 1990. The Russian State Bank and the Ministry of Finance provided substantial support for its initial formation as a limited liability company, with the main goal of supporting Russia’s foreign trade activities and promoting its integration into the global economy.
Over the course of several years, VTB Bank has witnessed impressive growth, establishing itself as one of the largest banks in Russia. Not only does it have a presence in countries like Armenia, Kazakhstan, and Ukraine, but its reach also extends beyond the borders of Russia.
VTB Bank has made significant progress in its journey by merging and acquiring a total of 15 banks between 2002 and February 2019.
Denis Aleksandrovich Bortnikov is the Deputy Chairman of the Management Board at VTB Bank PJSC, leading the bank’s leadership team. His role highlights the bank’s dedication to ensuring effective governance and leadership in successfully navigating the intricate landscape of the financial industry. VTB Bank remains a significant player in Russia’s financial landscape, thanks to its strong emphasis on global integration and a diverse range of services.
Involvement in Government Programs
Denis Bortnikov actively participates in government programs focused on the development of small and medium-sized businesses. VTB, under his leadership, collaborates with ministries and organizations supporting economic development, agriculture, and small enterprises.
Timeline of the Career of Denis Aleksandrovich Bortnikov
| Year | Event |
|---|---|
| 1974 | Denis Aleksandrovich Bortnikov is born on November 19 in Gatchina, Leningrad Region. |
| 1991 | Completes schooling. |
| 1991-1996 | Completed schooling. |
| 1996 | He began his career at Industrial Construction Bank as a consultant in the liquidity management department. |
| 2004 | Transitions to Guta-Bank, becoming an advisor to the manager. |
| 2006 | Joined Vneshtorgbank (VTB). |
| 2006-2017 | Progresses through various roles at VTB, including department head, vice-chairman of the board, and chairman of the board of VTB Bank North-West. |
| 2017 | Assumed the role of chairman of the board of directors of VTB and vice president of the financial institution. |
| 2019 | Appointed Deputy Chairman of the Management Board at VTB Bank PJSC. |
| Early careers involved working under the leadership of Vladimir Kogan at Promstroibank, a figure with ties to public service and significant property ownership. | Throughout the Career |
| Notable Connection | Early career involves working under the leadership of Vladimir Kogan at Promstroibank, a figure with ties to public service and significant property ownership. |
Prominent Connections
His journey into the banking sector began in 1996 at the OJSC Industrial Construction Bank, later renamed OJSC VTB Bank North-West. During the years 2004-2011, he held various positions at VTB Bank, contributing significantly to the institution’s operations. Notably, Bortnikov’s early career involved working under the leadership of Vladimir Kogan at Promstroibank. Kogan, a figure with ties to public service and significant property ownership, played a crucial role in shaping Bortnikov’s early banking career.
Positions Held by Denis Aleksandrovich Bortnikov at VTB Bank
| Position | Organization |
|---|---|
| Deputy Chairman of the Management Board | VTB Bank PJSC |
| Deputy Manager | CJSC “Vneshtorgbank Retail Services” |
| Deputy Manager | VTB Bank (St. Petersburg branch) |
| Deputy Chairman of the Management Board | VTB Bank PJSC |
| First Deputy Chairman of the Management Board | VTB Bank PJSC |
| Chairman of the Management Board | VTB Bank PJSC |
| Head of the North-West Regional Center | VTB Bank PJSC |
| Deputy President and Chairman of VTB Bank Management Board | VTB Bank PJSC |
| Chairman of the Board of Directors | CJSC VTB Bank (Belarus) |
| Chairman of the Supervisory Board | VTB Azerbaijan |
| Chairman of the Board of Directors | PJSC Bank Vozrozhdenie |
The Marital Life of Denis
Denis Bortnikov is married and has a son, but no further details about his family members are available in the search results.
Alleged Project Involvement and Family Connections
Media have reported on Bortnikov’s alleged participation in a major construction project involving flood protection structures in St. Petersburg. The project, overseen by Kogan, faced scrutiny during an audit by the Accounts Chamber, with allegations of fund mismanagement and cost escalation. Family connections, including ties to Kogan and cousin Yuri Sverdlov, a State Duma member, raised questions about potential influences on the project.
Details about the Construction Project
VTB Bank, Sarstedt, and St. Petersburg
Under the guidance of the Deputy President and Chairman of the Board, Denis Aleksandrovich Bortnikov, VTB Bank joined forces with Sarstedt and the city of St. Petersburg to establish a state-of-the-art industrial complex. Key figures, including Denis Bortnikov, Alexander Beglov (Governor of St. Petersburg), and Juergen Sarstedt (Chairman of the Board of Sarstedt), celebrated a pivotal moment in the initiative during a significant ceremony. The collaboration stemmed from a joint activity memorandum signed during the 2018 St. Petersburg International Economic Forum.
In accordance with the agreement, Sarstedt secured a 4-hectare land plot in the Marino industrial park. By June 2019, authorities had granted the necessary permissions to construct the plant. Governor Alexander Beglov expressed excitement about the venture, emphasizing,
“We are keen to foster high-tech industries in St. Petersburg as they bring highly paid jobs for our residents.”
Sarstedt invested over 1.5 billion rubles in the new enterprise, designed to supply its products to medical institutions in St. Petersburg and various regions of the Russian Federation. The project’s aim was to create 50 high-performance jobs, contributing to economic growth.
Denis Bortnikov, representing VTB Bank, underscored the institution’s commitment as a financial partner, providing favourable conditions for accelerated development in the Marino industrial park. He stated, “The construction of an industrial complex will open up new opportunities for the Sarstedt company and will serve as a positive endorsement of the industrial park for other foreign investors.”
Jürgen Sarstedt, the head of the board at Sarstedt, highlighted the substantial investment of 21.1 million euros in the construction of the production facility. He emphasized the company’s dedication to investing not only in the plant but also in the city of St. Petersburg and the Russian industry. The company set an ambitious completion target of May 2020 for the new industrial complex, spanning over 9,000 square meters.
Sarstedt expressed confidence in achieving this goal within the stipulated timeframe, noting –
“We aim to build a new plant in Marino in less than a year. These rather aggressive timelines reflect the dynamic pace at which our family company’s business has been developing in Russia since 1991.”
Net Worth and Family
Denis Aleksandrovich Bortnikov‘s father, Alexander Vasilyevich Bortnikov, openly disclosed his wealth, amounting to 4.62 million rubles in 2011. By 1912, the army general had amassed 5.18 million rubles in the capital. Denis’s mother also contributed over 228 thousand rubles. The real estate owned by his parents includes a residential building with a plot of land, two apartments, and three garages.
Apart from this, Denis’s personal financial status remains undisclosed.
His personal life has not been publicly revealed either, and his marital status and whether he has children are unknown.
Sanctions on Denis Aleksandrovich Bortnikov
Reason for Sanctions
Bortnikov, the son of Oleksandr Bortnikov, holds significant influence in shaping government policies due to his father’s position as the head of the Federal Security Service (FSB) and his role as a permanent member of the Security Council of the Russian Federation.
Denis fulfils an active role as the deputy president and chairman of the board at VTB Bank, where he is involved in efforts to legitimize his father’s income, which may have raised concerns about its legality. In addition, he offers financial support to Russian individuals associated with the annexation of Crimea and the destabilization of Ukraine.
Details
| European Union: 14/09/2022 |
| United Kingdom: 24/02/2022 |
| USA: 22/02/2022 |
| Canada: 24/02/2022 |
| Switzerland: 25/02/2022 |
| Australia: 26/02/2022 |
| Japan: 03/03/2022 |
| Ukraine: 19/10/2022 |
| New Zealand: 18/03/2022 |
Current Activities
As of the latest available information, Denis Bortnikov continues to lead VTB Bank, actively engaging in policies supporting small and medium-sized businesses. Innovative approaches, such as digital factories, are implemented to enhance business processes and provide non-banking services to entrepreneurs.
In 2020, VTB, under Bortnikov’s leadership, entered into over two thousand lending agreements, exceeding a total transaction value of 100 billion rubles. The “Program No. 1764” emphasizes preferential lending to various sectors, including woodworking, construction, private trade, and transport organizations.
Denis Aleksandrovich Bortnikov remains focused on contributing to the growth and success of VTB Bank, employing strategic initiatives to advance the bank’s position in the Russian financial sector.
Summary
Denis Aleksandrovich Bortnikov, born in 1974, deviated from his father’s FSB career to pursue economics. After graduating in 1996, he entered the financial sector, excelling at VTB Bank. Notably, his early career involved working under Vladimir Kogan’s leadership.
Bortnikov played key roles, rising to VTB’s Chairman of the Board. He actively engages in government programs, emphasizing support for small businesses. Allegedly involved in a major construction project, Bortnikov faces scrutiny, with family connections raising questions. Despite sanctions due to ties with annexation efforts, he leads VTB Bank, focusing on innovative approaches and contributing to its growth.
