Mikail Shishkhanov is one of the richest businessmen of the Russian Federation. The start of his career was facilitated by his uncle, and evil tongues are ready to "exaggerate" this topic again and again, preferring not to mention the personal achievements of Michael himself.
The success stories of this businessman can only be envied. Today, the fortune of Mikail Shishkhanov is estimated at more than $ 600 million. Who is he and where from? How did you manage to build such a dizzying career in the financial market of Russia? And is it true that he was “crammed” by an uncle with whose name criminal cases of fraud are connected?
Biography of Mikail Shishkhanov
Mikail was born in Grozny, in early August 1972, in a family of Chechen Ingush. His mother gave him the name in honor of the most revered angel of Allah in Chechnya. The boy did not dream of being a banker or someone related to finances. He was more attracted to the profession of a doctor - a man helping people, saving lives.
Mikail was different from his peers in perseverance, a thirst for knowledge, he really liked the strict, business style in clothes. He preferred classic costumes, loved ties, but was not a "nerd".
Another striking character trait is practicality and the desire to think through every step. It was they who brought Mikail in his youth to one of the small hospitals of Grozny, where he tried himself as a medical worker. The position of a nurse made it possible to see in all colors what medicine is, and the guy realized that this was not his field of activity.
On the advice of relatives, the young man entered the University of Friendship of Peoples named after Lumumba, at the Faculty of Law and Economics. While still at university, Mikail began working - in the company of his uncle Mikhail Gutseriev.
Start of career and education of Mikail Shishkhanov
Mikail began his professional career in 1992, 3 years before graduation, as the commercial director of his uncle Mikhail Gutseriev's "BIN" company.
Few of the current Russian financiers can boast that they started the practice while still studying the profession. Mikail was given such a chance by a loved one, and this is not surprising for a representative of the Caucasian nationality. The guy did not disappoint his uncle, showed himself as a responsible and executive employee. In gratitude for this, the young man received the position of vice president of a large financial and industrial company just two years after he came there.
For a little over a year, Mikail worked as vice president of BIN, and in early 1996 became the head of the board of directors of the concern. High post and rather bright career prospects did not become an occasion to stop self-development. Mikail defended his thesis on jurisprudence in banking, then entered the Financial Academy of the Government of the Russian Federation, and successfully completed it.
The acquired knowledge and practical professional experience allowed Mikail Shishkhanov to write and adequately defend his doctoral dissertation in economics.
The post of the head of Binbank and achievements - were they?
For almost 20 years, Mikail Shishkhanov served as chairman of the board of shareholders of the industrial and financial company BIN. In 2015, he headed the Board of Directors of the already renamed Binbank business group.
Having received this post, Mikail proceeded to reorganize the company, tried to increase its assets and attract new customers with high payment and purchasing power. He took the following steps:
- included a large construction holding in the bank’s asset,
- acquired an impressive stake in the trading company M.Video,
- decided to expand the company's oil business.
In 2017, Shishkhayev Mikail won the National Banking Award in the nomination “Personal contribution to the consolidation of the Russian system” and became an official billionaire, was on the Forbs magazine.
According to experts, Michael Shishkhanov made a fatal mistake, which subsequently undermined the further development of the bank, back in 2015, when he decided to acquire and introduce MDM into Binbank.
Unprofitable financial organization required additional investments from outside and led to the reorganization of Binbank. The Central Bank of the Russian Federation demanded additional accruals of reserves, the size of additional accruals amounted to almost 100 billion rubles, which was nowhere to take.
In December 2017, Forbs magazine called the loss of Binbank's assets the collapse of the year. This situation didn’t affect Shishkhanov Mikail’s personal condition, he remained a billionaire, but left the post of head of the bank.
