21.05.2025
12:00–13:30
Russian Financial Market for Investor and Issuer: Development Catalysts
Congress Centre, conference hall D3
The Russian economy faces the strategic task of boosting the role of the stock market as a source of investment and doubling its capitalization by 2030. The role of retail and foreign investors, and financial institutions, including banks, is of significance as part of this process. Of major importance are the legal conditions for participation by these investor categories in the investment process. What are the possible legal guarantees for new investments on the Russian financial market? Which tools and possibilities are in short supply? Which legal solutions and stimulating measures may be needed for developing the market architecture?
Moderator
Alexey Guznov
Secretary of State – Deputy Chairman, The Central Bank of the Russian Federation (Bank of Russia)
Panellists
Marina Belyakova
Partner, Head of the Tax Services Group for Fuel and Energy Companies in Russia and Belarus, B1 Group
Victoria Bortkevicha
Global Managing Partner, Better Chance
Anatoly Kozlachkov
President, Association of Banks of Russia
Andrey Medvedev
Legal Department Director, The Central Bank of the Russian Federation (Bank of Russia)
Denis Shulakov
First Vice President, Gazprombank
Broadcast

Alexey Guznov
Secretary of State – Deputy Chairman, The Central Bank of the Russian Federation (Bank of Russia)
Born on 18 June 1967 in Gorky.
Education
1990: graduated from the Lomonosov Moscow State University.
Candidate of Juridical Sciences (1994); Doctor of Juridical Sciences (2016).
Author of over 80 publications on the theory of law and financial regulation, including tutorials and monographs.
Career
1984–1985: Assembly Mechanic at the Gorky Institute Salyut, Gorky.
1985–1990: student at the the Lomonosov Moscow State University, Moscow.
1990–1991: Legal Advisor (contractor) at the Leisure Centre of the Oktyabrsky District, Moscow.
1991: Legal Team Leader at the International Association of Parliamentarians, Moscow.
1991–1992: Assistant to the Chairman of the Council of the Union of the USSR Supreme Council, Moscow.
1992–1994: Planning Team Leader, Deputy Chief of the Parliamentarianism Section at the Parliamentary Centre of the Russian Federation, Moscow.
1995–1997: Deputy Head of Section, Head of Section in the Banking Legislation Division of the Legal Department at the Bank of Russia, Moscow.
1997–1998: Deputy Head of the Division for Legal Support of Banking Operations of the Bank of Russia’s Legal Department, Moscow.
1998–2002: Deputy Director — Head of the Division for Legal Support of Banking Operations of the Bank of Russia’s Legal Department, Moscow.
2002–2014: Deputy Director of the Bank of Russia’s Legal Department, Moscow.
2014–2022: Director of the Bank of Russia’s Legal Department, Moscow.
Since 2022: State Secretary — Deputy Governor of Bank of Russia.
Member of the Bank of Russia Board of Directors (since 10 October 2018).
He holds the title of Honoured Lawyer of the Russian Federation; the medal of the Order ‘For Merit to the Fatherland’ 2nd class; awards of the Federation Council and the State Duma of the Federal Assembly of the Russian Federation; and awards of Russian ministries. Themis Award winner.
Education
1990: graduated from the Lomonosov Moscow State University.
Candidate of Juridical Sciences (1994); Doctor of Juridical Sciences (2016).
Author of over 80 publications on the theory of law and financial regulation, including tutorials and monographs.
Career
1984–1985: Assembly Mechanic at the Gorky Institute Salyut, Gorky.
1985–1990: student at the the Lomonosov Moscow State University, Moscow.
1990–1991: Legal Advisor (contractor) at the Leisure Centre of the Oktyabrsky District, Moscow.
1991: Legal Team Leader at the International Association of Parliamentarians, Moscow.
1991–1992: Assistant to the Chairman of the Council of the Union of the USSR Supreme Council, Moscow.
1992–1994: Planning Team Leader, Deputy Chief of the Parliamentarianism Section at the Parliamentary Centre of the Russian Federation, Moscow.
1995–1997: Deputy Head of Section, Head of Section in the Banking Legislation Division of the Legal Department at the Bank of Russia, Moscow.
1997–1998: Deputy Head of the Division for Legal Support of Banking Operations of the Bank of Russia’s Legal Department, Moscow.
1998–2002: Deputy Director — Head of the Division for Legal Support of Banking Operations of the Bank of Russia’s Legal Department, Moscow.
2002–2014: Deputy Director of the Bank of Russia’s Legal Department, Moscow.
2014–2022: Director of the Bank of Russia’s Legal Department, Moscow.
Since 2022: State Secretary — Deputy Governor of Bank of Russia.
Member of the Bank of Russia Board of Directors (since 10 October 2018).
He holds the title of Honoured Lawyer of the Russian Federation; the medal of the Order ‘For Merit to the Fatherland’ 2nd class; awards of the Federation Council and the State Duma of the Federal Assembly of the Russian Federation; and awards of Russian ministries. Themis Award winner.

Marina Belyakova
Partner, Head of the Tax Services Group for Fuel and Energy Companies in Russia and Belarus, B1 Group

Victoria Bortkevicha
Global Managing Partner, Better Chance

Anatoly Kozlachkov
President, Association of Banks of Russia

Andrey Medvedev
Legal Department Director, The Central Bank of the Russian Federation (Bank of Russia)

Denis Shulakov
First Vice President, Gazprombank
Denis Shulakov is the First Vice-President of Gazprombank since September 2012, in charge of capital markets across international and domestic debt, equity and equity-linked products as well as trading, brokerage and market research. Over the last 3 years Gazprombank has established itself within top 5 bookrunners for Russian eurobonds and #1 bonds arranger in Russian Oil&Gas and Energy industries (Gazprom, Gazpromneft, Novatek, Rosneft, Sibur, Federal Grid mandates executed).
Prior to joining Gazprombank Denis worked as a Managing Director of Barclays in London (2003-2012) heading Russian investment banking and lately CIS public sector. During this time, Barclays became the #1 bookrunner for Russian Eurobonds (2010) and was among top-3 bookrunners for a number of consecutive years. Denis managed over 70 eurobond placements and liability management mandates for largest Russian and CIS clients, including re-entry of the Russian Federation in theEurobond market in 2010, debut international debt offerings of Vhesheconombank, Russian Development Bank and Russian Railways, numerous eurobond issues for Lukoil including USD1.5bn convertible bonds in 2010, loan portfolio restructuring of Rosneft with USD7.5bn pre-IPO bridge financing, IPO and debut eurobonds, rating advisory, positioning of Ukrainian Railways for international debt issue and many others.
Prior to joining Gazprombank Denis worked as a Managing Director of Barclays in London (2003-2012) heading Russian investment banking and lately CIS public sector. During this time, Barclays became the #1 bookrunner for Russian Eurobonds (2010) and was among top-3 bookrunners for a number of consecutive years. Denis managed over 70 eurobond placements and liability management mandates for largest Russian and CIS clients, including re-entry of the Russian Federation in theEurobond market in 2010, debut international debt offerings of Vhesheconombank, Russian Development Bank and Russian Railways, numerous eurobond issues for Lukoil including USD1.5bn convertible bonds in 2010, loan portfolio restructuring of Rosneft with USD7.5bn pre-IPO bridge financing, IPO and debut eurobonds, rating advisory, positioning of Ukrainian Railways for international debt issue and many others.