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

Grigoriy received an MBA cum laude from IBR, Steinbeis University in Berlin. Graduated from Ukrainian Academy of Foreign Trade and Kyiv Air Force Institute.

Language proficiencies

He speaks Ukrainian, Russian, English and French.

Grigoriy Ovcharenko

Director, Head of Local Asset Management

Grigoriy Ovcharenko joined ICU in 2016 as Director, Head of Local Asset Management. He is responsible for all local asset management business including pension funds and cooperation with institutional investors.

Grigoriy has been leading asset management and marketing organizations for more than 20 years. Prior to joining ICU, he was the CEO of OTP Capital and a board member of OTP Pension for more than six years. From 2007 to 2010, he was the CEO of Socrat Asset Management. During his tenure, Socrat was recognized as the top asset management firm in Ukraine (Euromoney, 2008). From 2000 to 2007, he directed marketing efforts for Altadis as head of the Ukrainian representative office.

Grigoriy is a member of the Board of Ukrainian Association of Investment Business (UAIB) and chairs its public funds committee.

Contacts

e-mail: grigoriy.ovcharenko@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 the ICU team in January 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. Prior to that, she spent five years heading the investment trust department at Land Bank (Kharkiv). 

Contacts

e-mail: inna.vedrinskaya@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

Head of Marketing and Sales

Liliya is responsible for all of aspects of customer service at ICU. She cooperates with the business development department as well as the sales, research and operational units to support relationships with potential and existing clients.

Before joining ICU, Liliya was the Head of Local Securities Sales at Foyil Securities for four years. There she was responsible for managing 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

Roman received BBA degree in Enterprise and IT Management from International Christian University (Kyiv-Vienna) in 1999. He qualified as a certified chartered accountant in 2002 (ACCA).

Language proficiencies

He speaks Ukrainian, English and Russian and has basic Polish skills.

Roman Nikitov

Director, Investment Banking

Roman has more than 15 years of experience in investment banking and corporate finance.  He joined the ICU team from UniCredit, where he was heading the Corporate Finance Advisory team in Ukraine. Before that, he served as a director in ING’s corporate finance team.

During his time at UniCredit and ING, Roman led and took part in a number of major transactions. These include a private placement of Ukraine’s largest pharmaceuticals wholesaler, a leveraged buy-out and follow-on capital raise for one of the largest alcohol producers in Ukraine, the acquisition of a large Ukrainian hard cheese producer as well as a number of public offerings on the Warsaw Stock Exchange, among which was Ukraine’s largest vegetable oil producer.

Prior to ING, Roman worked at Ernst & Young in the audit department in Kyiv from 1999 to 2003. In 2003, he moved to the corporate finance department in Moscow to focus on M&A, project finance, and restructuring projects. He returned to Kyiv in 2005 to led Ernst & Young’s Transaction Support department, executing financial analysis, pre-acquisition due-diligence and IPO documentation projects.

Contacts

e-mail: roman.nikitov@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 the Best Underwriter Award in 2011 and the Deal of the Year on the Primary Bond Market in Ukraine in 2012. 

Ruslan has led bond issues for clients such 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 won numerous underwriting and lead manager awards. During his time at UkrSibbank, he completed over 70 transactions for with a total value of over US$1.5bn, including bond placements for UkrSibbank, Swedbank, VAB bank, Airport Borispil, Konti and AVK Confectionaries and the 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

Director, Investment Banking

Ivan joined Investment Capital Ukraine in 2013. He has over 15 years of experience in investment banking and securities services..

Prior to joining ICU, Ivan worked for ING Bank in Ukraine in a variety of roles including Corporate Finance (2006-2012), Securities Services (2003-2006) and Internet Portal Financial Services (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 the 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 an 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. There he 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 for collateral evaluation in the risk management department for corporate business at PrivatBank and UkrSibbank in 2003-2007.

Yuriy’s most recent transactions include the debt restructurings for Azovmash and Furshet as well as the acquisitions of WJ and Ukrros.

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

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

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

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

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

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

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

Contacts

e-mail: vitaliy.sivach@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

Head of brokerage services department

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.

Alexander Valchyshen

Head of Research, Member of Investment Committee

Alexander is ICU’s Head of Research. His direct areas of expertise include macroeconomic analytics, bonds and foreign exchange markets.

He and his team have been recognized as one of the leading research teams in Ukraine for a number of years, receiving multiple awards including Best Fixed-Income Research Team in 2010-11 by Cbonds.

He has been an economic and securities analyst since 2000. Prior to joining ICU in 2008, Alexander was the Head of Research at ING Bank Ukraine.

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

Contacts

e-mail: alexander.valchyshen@icu.ua

Education

Alexander 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.

Alexander Martynenko

Head of corporate research

Alexander covers equity, debt and commodity instruments in metals & mining, oil & gas, utilities, transportation and other non-banking sectors in Ukraine, CIS and international markets.

Alexander joined ICU in August 2010, bringing with him five years of experience analyzing the Ukrainian metals & mining and machine building sectors and two years’ experience auditing leading businesses in the financial and industrial sectors.

Prior to joining ICU, he worked for PricewaterhouseCoopers, Foyil Securities, Troika Dialog and 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 is an expert on Ukrainian bond markets and Ukrainian sovereign debt. He regularly evaluates the risks associated with government debt payments. He closely monitors other local debt markets and assesses their impact on government borrowing.

Prior to joining ICU, he worked for more than 12 years at the Ministry of Finance of Ukraine in positions ranging from economist to department head.

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.

Mykhaylo Demkiv

Financial Analyst

Mykhaylo joined the ICU team in 2013. He covers the Ukrainian banking sector, generating surveys and analytical reports covering the industry as a whole and a number of the largest players. 

Prior to ICU, he was an auditor for Deloitte focused on Ukrainian bank accounting according to both 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 worked for more than five years as an equity analyst for other leading investment banks in the Ukrainian market.

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

Bogdan has developed a 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. 

Vera Yevseeva

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

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, PJSC “BANK AVANGARD”

Svitlana joined PJSC “BANK AVANGARD” 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