Petr Aven presentation at SKOLKOVO

On July 26 Petr Olegovich Aven, President of Alfa-Bank – one of the largest Russian banks – was a guest speaker at SKOLKOVO MBA programme.

Mr. Aven told about corporate management style in Alfa-Bank Group, and the students had an opportunity to ask all their questions.

The short video from the meeting is in Russian and doesn't have subtitles, but you may find the most interesting statements below.

“We initially had very formal relationships at "Alfa". All partners’ relations were written by the British lawyers… We have a very strict rule: no agreement can be violated. If having any disagreements we are trying to solve them between ourselves, involving no lawyers. Written agreements make us be honest.”

“It is impossible to get a job in "Alfa" through connections. If I take anyone through connections – I will violate my liabilities.”

“Business has nothing to do with humanism. Business can be compared to a cruel war operation…. If someone doesn’t want to give back his loan – we will get our money back anyway... Business for us is about abidance by rules. We are a very aggressive structure. We are using any legal opportunity to defend our interests and make money. Our legal service is the best one in Russia. We have never forgiven anyone for anything.”

“It is better when friendship follows business, not vice a verse.”


“One of key factors for successful management is to find professional people who are good at what they are doing, and let them work.”


“No one can know everything… There have always been people that are smarter than me; that’s why I am not trying to be in control of everything.”


“At Alfa, employees do participate in decision making… Any person in the company can meet me in 15 minutes.”


“Business strategy must be created by the management, not by shareholders… And strategy is always more important than tactics.”


“I have made a lot of mistakes; but it is more important that we have overcome them.”


“Business is art, and it requires lots of knowledge and skills.”


Speaking of family business: “People must live their own lives. I am not intended to leave my business to my children. They should develop by their own. Otherwise it is destructing.”


“Happiness is a combination of various lives that you live through. In each of them the most important thing is self-realization.”