Education

He graduated in 2001 from Kharkiv National University with a Master's degree in Econometrics.

Language proficiencies

He speaks English, Russian and Ukrainian.

Konstantin Stetsenko

Managing Director, Head of Sales and Trading, Member of Investment Committee

Konstantin’s Sales and Trading team has been consistently recognized as the best team in Ukraine and received multiple awards, including Best Fixed Income Sales (2009-12, Cbonds), #1 Government Bond Trader by the number of exchange transactions in 2011-12 (Cbonds-AUST).

Konstantin has a successful track record in capital markets that extends over twelve years. From 2005 to 2008, he worked as Head of Fixed Income Trading at ING Bank Ukraine, where he helped the bank obtain leading positions in primary and secondary domestic debt markets.

Before that, Konstantin was employed by UkrSibBank, where he progressed from a member of the trading team to the Head of Sales & Trading and held the position of the Vice Chairman of the Board and Chief Investment Officer at UkrSib Asset Management.

Contacts

e-mail: konstantin.stetsenko@icu.ua

Education

Makar holds a Bachelor's Degree in Business Administration from International Christian University (Ukraine/Austria) and is a CFA charter holder.

Language proficiencies

He speaks English and Russian.

Makar Paseniuk

Managing Director, Head of Investment Banking, Head of Investment Committee

Makar has more than fifteen years of investment banking experience both locally and internationally. His team is currently the most experienced and professional in Ukraine. Over the past three years, the team is credited with over US$1.0bn in M&A deals, US$2.0bn in debt advisory, and UAH3bn in debt issuances.

Most recently, Makar led Kernel’s acquisition of Allseeds Group, Enselco in Ukraine, and “Russian Oils” in Russia. Makar also successfully completed the Industrial Milk Corporation's IPO on the WSE in May 2011 despite difficult market conditions.

Before joining ICU, Makar was Managing Director and Head of Corporate Finance at ING Bank (Ukraine). Prior to that he was a member of ING Corporate Finance team in London. From 1998 to 2002, Makar was Head of Securities at ING Bank Ukraine.

Makar has been involved in a range of assignments including an US$2.7bn restructuring of Ukraine’s external debt, high-profile ratings advisory transactions (Kyiv City and MoF) and advisory work for the State Property Fund of Ukraine. The list of transactions includes many market opening deals, such as: the first Ukrainian IPO on AIM (real estate developer XXI Century), the first Ukrainian IPO on WSE (Astarta, 2006), IPOs and SPOs for Kernel and Astarta - leading Ukrainian agricultural companies; the first Ukrainian LBO (Soyuz Victan - leading CIS alcohol manufacturer), and the private placement of BaDM, the largest Ukrainian pharmaceutical distributor.

Contacts

e-mail: makar.paseniuk@icu.ua

Education

Inna graduated from the Kharkov Engineering-Economic Institute.

Language proficiencies

She is fluent in English, Ukrainian and Russian.

Inna Vedrynska

Funds Management Department Head

Inna Vedrynska joined ICU team in January of 2007 with more than eighteen years of experience in the financial sector. 

In 2001-2006, she worked as the head of the securities transaction accounting department at UkrSibbank. From 1996 to 2001, she headed the investment trust department at Land Bank (Kharkiv). 

Contacts

e-mail: inna.malceva@icu.ua

Education

Liliya graduated from Kyiv International University with a Master's degree in International Economics. 

Language proficiencies

She speaks English, Ukrainian and Russian.

Liliya Kubytovych

Senior Sales

Liliya is responsible for all of the aspects of customer service, including both administrative and operational functions concerning the products and services provided by ICU. She cooperates with the business development department, sales, analytical and operational units to develop and support relationships with potential and existing clients. 

Before joining ICU, Liliya was the head of local sales of securities at Foyil Securities for four years. She manages customer acquisitions, client portfolio management, and of new investment product development.

Contacts

e-mail: liliya.kubytovych@icu.ua

Education

Makar holds a Bachelor's Degree in Business Administration from International Christian University (Ukraine/Austria) and is a CFA charter holder.

Language proficiencies

He speaks English and Russian.

Makar Paseniuk

Managing Director, Head of Investment Banking, Head of Investment Committee

Makar has more than fifteen years of investment banking experience both locally and internationally. His team is currently the most experienced and professional in Ukraine. Over the past three years, the team is credited with over US$1.0bn in M&A deals, US$2.0bn in debt advisory, and UAH3bn in debt issuances.

Most recently, Makar led Kernel’s acquisition of Allseeds Group, Enselco in Ukraine, and “Russian Oils” in Russia. Makar also successfully completed the Industrial Milk Corporation's IPO on the WSE in May 2011 despite difficult market conditions.

Before joining ICU, Makar was Managing Director and Head of Corporate Finance at ING Bank (Ukraine). Prior to that he was a member of ING Corporate Finance team in London. From 1998 to 2002, Makar was Head of Securities at ING Bank Ukraine.

Makar has been involved in a range of assignments including an US$2.7bn restructuring of Ukraine’s external debt, high-profile ratings advisory transactions (Kyiv City and MoF) and advisory work for the State Property Fund of Ukraine. The list of transactions includes many market opening deals, such as: the first Ukrainian IPO on AIM (real estate developer XXI Century), the first Ukrainian IPO on WSE (Astarta, 2006), IPOs and SPOs for Kernel and Astarta - leading Ukrainian agricultural companies; the first Ukrainian LBO (Soyuz Victan - leading CIS alcohol manufacturer), and the private placement of BaDM, the largest Ukrainian pharmaceutical distributor.

Contacts

e-mail: makar.paseniuk@icu.ua

Education

Ruslan holds a Master of Finance from Kyiv National University of Economics.

Language proficiencies

He speaks Ukrainian, English and Russian.

Ruslan Kilmukhametov

Director, Head of Debt Capital Markets

Ruslan is in charge of debt origination and covers financial institutions. While at ICU, he won Best Underwriter Award in 2011 and Deal of the Year on the Primary Bond Market in Ukraine in 2012. 

Ruslan has led bond issues for such clients as VTB, Prominvest bank (VEB), Credit Agricole, Pravex-bank (Intesa SanPaolo), ProCredit Bank, IMC Holding and Donetsksteel. 

Prior to joining ICU, Ruslan worked for UkrSibbank BNP Paribas Group as Head of Corporate Finance and was in charge of debt origination and corporate finance. Under his management, the team obtained numerous underwriting and lead manager awards for UkrSibbank. 
Over 70 transactions for a total of over US$1.5bn were executed, including bond placements for UkrSibbank, Swedbank, VAB bank, Airport Borispil, Konti and AVK Confectionaries and cities of Kharkiv, Donetsk and Zaporizhya.

Contacts

e-mail: ruslan.kilmukhametov@icu.ua

Education

Ivan holds a Bachelor’s degree in Romantic and Germanic Philology from Chernivtsi State University (1996).

Language proficiencies

He is fluent in Ukrainian, English and Russian.

Ivan Shvydanenko

Vice President, Investment Banking

Ivan joined Investment Capital Ukraine in 2013 from ING Corporate Finance in Kyiv, having over ten years of experience in investment banking and securities services.

Prior to joining ICU, Ivan worked for ING Bank in Ukraine in various functions – Corporate Finance in 2006-2012, Securities Services in 2003-2006, and Internet Portal Financial Services in 2000-2003.

Ivan has successfully worked on a number of private and public capital raising and M&A transactions in retail and wholesale trade, telecommunications, agriculture, metals and mining, and real estate. 

His assignments include an IPO of a Ukrainian real estate developer on the AIM, three IPOs for Ukrainian agricultural companies on the WSE, private equity placements for Ukraine’s largest pharmaceuticals wholesaler and an alternative telecom service provider, and a LBO of a leading CIS alcohol manufacturer.

Contacts

e-mail: ivan.shvydanenko@icu.ua

Education

In 2004, Yuriy earned a degree in Finance from Kherson State Technical University. In 2006, he earned the appraiser certificate issued by the State Property Fund of Ukraine for asset valuation and evaluation of property complexes. In 2012, he received a PhD in Economics from the European University (Kyiv). 

Language proficiencies

He speaks Ukrainian, Russian and English. 

Yuriy Kamarnytsky

Vice President, Investment banking

Yuriy is an experienced expert in business valuation, financial modeling, financial analysis, strategic planning, and corporate restructuring. 

Prior to joining ICU, Yuriy worked as a senior economist in the transaction, assessment and business modeling department at Ernst & Young, and was actively involved in business valuation for leading companies in metallurgy, car-building industry, real estate, energy, and banking. 

He also worked as the leading economist of collateral evaluation in the risk management department for corporate business at PrivatBank and UkrSibbank in 2003-2007. 

Yuriy’s latest deals include the debt portfolio restructing for Azovmash and Furshet, as well as the acquisition of WJ and Ukrros companies.

Contacts

e-mail: yuriy.kamarytskyi@icu.ua

Education

He graduated in 2001 from Kharkiv National University with a Master's degree in Econometrics.

Language proficiencies

He speaks English, Russian and Ukrainian.

Konstantin Stetsenko

Managing Director, Head of Sales and Trading, Member of Investment Committee

Konstantin’s Sales and Trading team has been consistently recognized as the best team in Ukraine and received multiple awards, including Best Fixed Income Sales (2009-12, Cbonds), #1 Government Bond Trader by the number of exchange transactions in 2011-12 (Cbonds-AUST).

Konstantin has a successful track record in capital markets that extends over twelve years. From 2005 to 2008, he worked as Head of Fixed Income Trading at ING Bank Ukraine, where he helped the bank obtain leading positions in primary and secondary domestic debt markets.

Before that, Konstantin was employed by UkrSibBank, where he progressed from a member of the trading team to the Head of Sales & Trading and held the position of the Vice Chairman of the Board and Chief Investment Officer at UkrSib Asset Management.

Contacts

e-mail: konstantin.stetsenko@icu.ua

Education

He is a member of the Freedom Support Act, a Future Leaders Exchange Program graduate, and graduated from Lee's Summit North High School, Missouri, United States. 

Language proficiencies

He is fluent in English, Russian and Ukrainian.

Sergiy Belyaev

Trader, Fixed income

Sergey launched his career in ICU’s research department in 2008 and specializes in debt securities and foreign exchange market analysis. 

In 2010, he joined the trading department to handle Ukraine issued bond trading, debt securities repurchase agreements, trading position liquidity planning, and brokerage services. 

Sergey has a Master's degree in Economic Cybernetics from Taras Shevchenko Kyiv National University. 

Contacts

e-mail: sergiy.byelyayev@icu.ua

Education

Vitaliy has a MSc in Finance from Birkbeck College, University of London and graduated from NTU Kyiv Polytechnic Institute.

Language proficiencies

He speaks Russian, English and Ukrainian.

Vitaliy Sivach

Trader, Fixed income and Forex

Having joined ICU in May 2011, Vitaliy is responsible for currency and Eurobond trading. He is an experienced trader in Ukrainian market instruments. 

Prior to ICU, he was a trader at Millennium Capital, worked at JPMorgan in the exotic derivatives department, and began his career at Barclay's Capital. 

Contacts

e-mail: vitaliy.sivach@icu.ua

Education

In 2007, she gained a Master's degree in international Trade from Vadym Hetman Kyiv National Economic University. 

Language proficiencies

She speaks Russian, Ukrainian, English, and German.

Yulia Pecherytsa

International Sales

Yulia has been at the ICU since 2010 and has been in international institutional sales since 2006. She organizes the full cycle of securities sales, from potential investor research and development, trade line initiation, to closing sales. Trading operations and international stock and Eurobond sales are among her specialties. 

Before joining ICU, Yulia worked at Foyil Securities and Phoenix Capital in international sales. 

Contacts

e-mail: julia.pecheritsa@icu.ua

Education

Graduated from the Kyiv National Trade and Economy University in 2009 with a major in Business Economics, she received a Master's degree in Entrepreneurial Economics and Economics.

Language proficiencies

She speaks English, Italian, Ukrainian and Russian.

Yevgeniya Gryshchenko

Sales, Fixed income

Yevgeniya is mostly connected to local debt securities trading, client advisory, trading operations support, cooperation with international exchanges, and client development. 

Yevgeniya has five years of experience in the stock market. In early 2008, she launched her career at the Ukrainian Stock Centre (UFC) as a securities sales specialist and was promoted to the head of sales in less than in a year. She led the debt securities sales unit. 

Contacts

e-mail: yevgeniya.gryshchenko@icu.ua

Education

He holds a Bachelor's degree in Business and Management from King's College, London and a Master's degree from City University, London. 

Language proficiencies

He is fluent in English and Russian.

Vlad Sinani

Director, Strategy and Business Development

As head of ICU's strategic planning and business development, Vlad also founded and headed the equity market department.
 
Prior to joining ICU, he was a partner at Weybridge Associates, a consulting company in London, where his transactional experience included fund raising for a real estate project in the United States as well as Russian oil and gas companies, international emerging markets, and pre-IPO consulting for a gold mining company. 

Vlad also worked in corporate finance and equity capital markets at ING London. While at ING, he was actively involved in numerous transactions, such as an US $ 105 million IPO on the LSE of a Kazakh mining company, an US $ 140 million IPO on the AIM of Ukrainian developer XXI Century, and an US $ 92 million IPO on the RTS of Russian developer RTM. 

Contacts

e-mail: vlad.sinani@icu.ua

Education

Alexander graduated from Vinnitsa Polytechnic Institute with an degree in Electrical Engineering. He also graduated from the International Personnel Management Academy with a degree in Banking.

Language proficiencies

He speaks Ukrainian, English and Russian.

Olexander Valchyshen

Head of Research Department, Member of Investment Committee

Alexander is the Head of Research. Macroeconomic analytics, bond and foreign exchange markets are among his spotlights.

A macroeconomic and securities analyst since 2000, he and his team have been recognized as one of the leading research teams in Ukraine for a number of years and have received multiple awards, including Best Fixed-Income Research Team in 2010-11 by Cbonds.

Prior to joining ICU in 2008, Alexander was Head of Research at ING Bank Ukraine. 

He has been a member of the Debt and Banking Research Committee at USFA since 2005 and has been a member of the Ukrainian Society of Financial Analysts (USFA) Executive Committee.

Contacts

e-mail: alexander.valchyshen@icu.ua

Education

Olexander holds a Master’s degree in Business Administration from the University of South Carolina. He is a graduate of Kharkiv State University, specializing in Economic Forecasting and Planning.

Language proficiencies

Olexander speaks Ukrainian, English and Russian.

Olexander Martynenko

Head of corporate research

Olexander analyzes the financial and operational performance of companies in the metals and mining, energy, and oil and gas sectors of Ukraine and the CIS. He also examines trends of key global commodity markets.

Olexander joined ICU in August 2010, bringing with him five years of analyzing Ukrainian metals, mining and machinery and two years of auditing the leading businesses of Ukraine’s financial and industrial sectors.

His former employers include PricewaterhouseCoopers, Foyil Securities, Troika Dialog, Bogdan Corporation.

Contacts

e-mail: alexander.martynenko@icu.ua

Education

Taras graduated from Kiev State University of Trade and Economics and attended a number of short-term specialized programs at the Joint Vienna Institute (Austria). 

Language proficiencies

He speaks English, Ukrainian and Russian. 

Taras Kotovych

Senior Financial Analyst, Sovereign Debt

Taras’ expertise includes Ukrainian sovereign debt of analysis, Ukrainian bond markets, and analyzing the potential risks and problems with the direct and guaranteed debt payment procedure. He monitors other national debt markets and assesses their impact on government borrowing. 

Prior to joining ICU, for more than twelve years he worked at the Ministry of Finance of Ukraine in various positions – from economist to the head of the department - mainly in government borrowing. 

Contacts

e-mail: taras.kotovych@icu.ua

Education

Mykhaylo earned a Master's degree in Economics from Central European University (Budapest, Hungary), and a Master of Finance from Ivan Franko Lviv National University.

Language proficiencies

He speaks Ukrainian, English and Russian.

Mykhailo Demkiv

Financial Analyst

Mykhaylo provides surveys and analytical reports on the Ukrainian banking sector. 
Prior to ICU, he was an auditor for Deloitte focused on Ukrainian bank accounting according to local and international standards (IFRS). 

Contacts

e-mail: mykhaylo.demkiv@icu.ua

Education

Bohdan graduated from the National University of Kyiv-Mohyla Academy, and also attended Kyiv School of Economics. 

Language proficiencies

He is fluent in English, Ukrainian and Russian. 

Bohdan Vorotylin

Analyst, AIC (Agroindustrial Complex)

Prior to joining ICU’s team of analysts in 2013, Bogdan analyzed stock markets for other investment banks for more than five years. 

His career began in 2009 at Phoenix Capital, where he was responsible for the agriculture sector. Afterwards, he spent three years as the head of the research department at Millennium Capital. 

Bogdan has broad knowledge of the following sectors: agriculture, mining, banking, chemistry, telecommunications and aviation. 

Contacts

e-mail: bogdan.vorotilin@icu.ua

Education

Oleg holds a MBA from Eastern Ukrainian University and an Investment Manager degree from Kyiv Investment Management Institute. 

He is also certified by the National Securities and Stock Market Committee to provide securities trading, asset management and depository activities.

Language proficiencies

He is fluent in English, Ukrainian and Russian.

Oleg Medvedev

Director

Oleg Medvedev has been at ICU since the company was founded. In 2005-2006, he worked as a general director at Optima Capital AMC, Kyiv. For more than 7 years, from 1997 to 2005, headed ITT-Management AMC, Kyiv. 

Contacts

e-mail: oleg.medvedev@icu.ua

Education

Dmitry graduated from Gordon S. Marshall School of Business, University of Southern California.

Language proficiencies

He speaks English, Ukrainian and Russian. 

Dmytro Nedelchev

Risk Management, Member of Investment Committee

Dmitry’s area of expertise includes the systematic search for the company's business areas that require risk management, risk monitoring or further identification of potential problems. 

Dmitry's team uses complex models to render the economic risk value (VaR), estimated risk adjustments, constant position, limits, and resolution determination/ All positions are being monitored and presented to the Board daily. 

Before joining ICU, Dmitry worked at PIMCO's (California) main office at the asset management and global strategies department. 

Contacts

e-mail: dmitri.nedelchev@icu.ua

Contacts

Vera gained a Bachelor's degree in Business Administration from International Christian University (Kyiv) and a degree in Corporate Management from European University (Kyiv).

Language proficiencies

She speaks English, Russian and Ukrainian. 

Vira Evseeva

Regulatory compliance

Vera focuses on ICU's customers and counterparty identification to counteract the legalization of income gained illegally, as well as the development and monitoring of policies and procedural compliance necessary to implement the company's services in the stock market. 

Prior to joining ICU, Vera was the head of the operations department at Troika Dialog Ukraine for more than six years. She also worked as a senior specialist for securities operational services at Foyil Securities. Through the years spent at these companies, Vera provided both the operational support of securities transactions and the identification of customers and counterparties. 

Contacts

e-mail: vera.yevseeva@icu.ua

Education

A graduate of the Institute for Applied Systems Analysis at NTU Kyiv Polytechnic Institute, he specialized in Systems Analysis of Financial Markets. He also studied Asset and Liability Management in Erste Bank AG College. 

Language proficiencies

He is fluent in English, Ukrainian and Russian.

Sergiy Arkhypov

Project Manager / Middle Office

Sergiy is responsible for automation, reporting and risk management. He provides support to the trading division in advanced mathematical models application for trading and risk analysis. 

Prior to joining ICU in March 2013, Sergiy worked for foreign banks for more than four years, introducing various information and risk systems in the Ukrainian divisions of Alfa Bank Ukraine, Erste Bank, UkrSibbank, BNP Paribas Group. 

Contacts

e-mail: sergiy.arkhypov@icu.ua

Education

In1998, she graduated from Kyiv International Financial University with an honorary diploma in Economics and later earned a MBA at IBR Business School (Germany). She also has a degree in medicine and endocrinology (1994).

Language proficiencies

She is fluent in Ukrainian, Russian and English.

Svitlana Korchynska

Chairman, Avangard Bank

Svitlana joined Avantgard Bank in September 2013 as Chairman of the Management Board. 

Prior to joining Avantgard, Svitlana has more than seventeen years of experience in banking, including the following positions: Chief Accountant and CFO at ING Bank, Ukraine (1998-2001); Deputy Chairman of the Management Board/CFO at Bank NRB-Ukraine (2001-2006); Chairman of the Management Board at Energobank, Ukraine (2006-2009); First Deputy or the Chairman of the Management Board at Ukrainian Innovation Bank (2010-2013).  

With eighteen years of experience in financial management at Ukrainian and international banks, she has been responsible not only for finance but also for business re-engineering, business procedure optimization, implementation of automated banking systems, restructuring of portfolios, and the development and implementation of new modern banking products.

He is fluent in Ukrainian, English and Russian.

Contacts

e-mail: s.korchynska@avangardbank.com.ua