Founders

	Founders
	Public equity management team
	Private equity management team
	Real estate management team

Boris G. Fedorov
Ph.D, Founding Partner and Member of UFG’s Investment Advisory Committees

— Co-founder of United Financial Group; Honorary Chairman
— Member of the Boards of Directors: Gazprom; the Supervisory Board of Savings Bank of the Russian Federation (Sberbank)
— Chairman of United Financial Group (1994 to 1998)
— Appointed Head of the State Tax Service and later Deputy Prime Minister of the Russian Federation (1998)
— Minister of Finance of the Russian Federation (1990)
— Deputy Prime Minister (1992 to 1994); Appointed Minister of Finance (1993)
— Elected Deputy of the State Duma (1993-1998)
— Executive Director of the International Bank for Reconstruction and Development for the Russian Federation (Washington, 1992)
— Head of Soviet Affairs, EBRD in London (1991-1992)
— BSc from the Moscow Institute of Finance in International Economic Relations 1980, Ph.D. in Economics in 1985 and Doctor of Science in Economics in 1990

Charles E. Ryan
Founding Partner and Member of UFG’s Investment Advisory Committees

— Co-founder of United Financial Group
— As UFG’s CEO turned UFG into Russia’s largest independent investment bank (1994-2006)
— Deutsche Bank acquired UFG’s Corporate Investment Banking (CIB) business in 2006. UFG Asset Management was spun off as independent in 2003 and remained in control of UFG founders / outside the deal with Deutsche Bank.
— CEO & Chief Country Officer of Deutsche Bank Group in Russia since UFG’s CIB business acquisition by Deutsche Bank (2006 — presently).
— To step down as DB Russia’s CEO/CCO in September 2008 while assuming the role of Chairman of Deutsche Bank in Russia;
— Associate and Principal Banker at the EBRD, London. Advised the City of St. Petersburg on the plan for privatizing industry and real estate. Worked in the EBRD Russia and Poland country divisions executing private equity investments (1991-1994)
— Financial Analyst at Credit Suisse First Boston (1989-1991)
— BA with Honors in Government, concentrating on Soviet Foreign Policy, from the Harvard College (1989)

Florian Fenner
CFA, Managing Partner, Chief Investment Officer of UFG AM, Member of UFG’s Investment Advisory Committees

— Joined UFG Asset Management as Managing Partner in July 2002
— Head of Unifund?s Moscow office with responsibility for Euro 300m+ Russia portfolio (2000-2002)
— Portfolio Manager, Brunswick Capital Management (1997-2000) managing Russian equity portfolio
— Deputy Head of Research at Brunswick Brokerage, one of Russia?s leading investment banks (1996-1997)
— Investment banker, Schröder Münchmeyer Hengst Co. (1992-1996)
— Received a degree in Banking from Industrie- und Handelskammer in Frankfurt-am-Main ( 1992-1994)

Mikhail Mishustin
PhD, President of UFG Asset Management, Member of UFG Real Estate’s Investment Advisory Committee

— Joined UFG Asset Management as President in March 2008
— Head of the Federal Agency for Management of Special Economic Zones (RosOEZ) (2006-2008)
— Head of the Federal Real Estate Cadastre Agency (2004-2006) (created a united system of registering real estate objects, finished mass land assessment, compiled all the assessment register and cadastre lists on all land plots in Russia, allowing Russia to introduce a new Land Tax in 2006)
— Deputy Minister of the Russian Federation on Taxation (1998-2004) (projected and implemented an automated information system on federal, regional and local levels, supervised registration of the individuals and legal entities)
— (1988-1998) Worked in IT business
— Graduated from the Moscow Machinery Institute (STANKIN) and holds a PhD in Economics

The information contained herein is not for distribution to and does not constitute an offer to sell or the solicitation of any offer to buy or sell any securities to any person in any jurisdiction in which such offer, sale or solicitation is prohibited. Prospective investors are advised to consult their financial advisor and to take separate advice as to the legal requirements within their own countries for investment in any of the funds as well as any securities, taxation or exchange control legislation affecting them personally. In addition, the funds and services have not been registered with the U.S. Securities and Exchange Commission, and as a result, such investment products are only available to certain accredited investors who have been pre-qualified by UFG Asset Management.

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