OREANDA-NEWS. December 30, 2013. The owner and leading partner of London based investment fund G2 Capital Partners Grigory Guselnikov has acquired 50%+1 share of JSC NORVIK BANK shares and has become the majority shareholder and strategic investor in the bank. With the shareholder meeting of the same date Oliver Bramwell, CFA, has been appointed the new CEO of the bank.

After the conclusion of the deal Jurijs Sapurovs maintains substantial shareholder participation in the bank, holding 18.4% of shares, the remaining shareholders hold 31.6% shares.

Grigory Guselnikov is a finance and investment leader, who has worked in the banking industry since 1996. Currently Mr. Guselnikov resides in London and is the leading partner and majority shareholder of the London based investment fund G2 Capital Partners. Since 2007 Mr. Guselnikov is also the majority shareholder and Chairman of the Board of Directors of Vyatka Bank in Russia. Mr. Guselnikov holds a M.A. in Economics and he has extended his knowledge in business and financial management in several education establishments in the USA.

Oliver Bramwell has extensive experience in the banking sector, financial and credit risk management and retail lending. Oliver Bramwell has held management level positions in several banks in the United Kingdom and in Russia, including Barclays Bank and Citibank. Before joining NORVIK BANKA’s team Mr. Bramwell was the Managing director of Vyatka Bank (Russia). His duties included risk management, strategic IT project management and the development of new financial products. Oliver has a Masters in Mathematics from the University of Warwick (UK). In 2012 Oliver qualified as a Chartered Financial Analyst, a highly valued certification in international financial industry. Mr. Bramwell will undertake his duties at NORVIK BANKA from the start of 2014.

Already in December 16, 2013 Bank’s share capital was increased for more than 28 mln EUR, reaching almost 124.7 mln EUR. Funding for capital increase provided Mr. Guselnikov himself, but this is not the full sum of the deal.

The parties have agreed not to reveal information about the sum of the deal or other conditions of the deal.

Change in shareholder composition will not affect overall performance of the Bank. On the opposit - the accession of strong player will enable the Bank to develop the business in international markets additionally to the Latvian market.