Nepotism. Putin style

As reported in Russian business daily Vedomosti on 25 October 2012, Igor Putin, President Vladimir Putin’s cousin, has received another high-profile position, this time as a director of Podolsk bank Promsberbank, controlled by Alexei Kulikov, Anna Smirnova and Oleg Belousov (all holding 20 per cent shares).
Igor Putin is also on the board of two more banks – Master Bank and Russian Land Bank – and chairman of the investment company Vest Capital. From unidentified sources, he is not there for specific financial skills, but rather the links to his illustrious cousin Vladimir. Thanks to Vladimir, Igor can help to attract state finance and aid and abet the financial institutions in state tenders.


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