About Bulat Utemuratov

Bulat Utemuratov is a leading businessman and philanthropist. He is the key investor in the projects managed by Verny Capital investment group and oversees the activities of his charitable foundation. He is also Vice President of the International Tennis Federation and President of the Kazakhstan Tennis Federation.

Bulat Utemuratov

About

Bulat Utemuratov is a leading businessman and philanthropist. He is the key investor in the projects managed by Verny Capital Investment Group and oversees the activities of the registered Bulat Utemuratov Foundation. He

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Early Career

Bulat Utemuratov, an Economics graduate from Almaty Institute for National Economy (Narxoz University), started his career against the backdrop of a difficult economic environment. At that time, the Government of Kazakhstan, having recently regained independence, faced a range of challenges. These included a shortage of hard currency and the absence of a well-functioning banking system, as well as declining industrial output and a lack of an adequate legislative framework and trained specialists to form a new cadre.

At that time, Mr Utemuratov was rapidly advancing in his career, rising from a lecturer at his alma mater to head of department at the Ministry of Foreign Economic Relations. A turning point came when the government established the Kazakhstan Trading House in Austria.

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Years of expertise

Launch of business career

In 1995, Bulat Utemuratov, together with a group of partners, set up Almaty Trade and Finance Bank CJSC (ATF Bank), and by 2007, he had become its sole controlling shareholder. During this period, ATF Bank evolved from a small financial institution into a leading player in the banking market.

In 2007, Bulat Utemuratov, together with minority shareholders, sold the bank to the Italian UniCredit Group for USD$2.2 billion, a deal that experts at the time regarded as the largest transaction in the CIS banking sector.

The entrepreneur used the proceeds from the sale to develop his asset portfolio, becoming the key financier in projects under the management of Verny Capital Investment Company. Today, Verny Capital is one of the largest investment groups in Kazakhstan, specializing in direct investment. The group’s portfolio includes projects and assets spanning the transport and logistics, real estate, hospitality, telecommunications, and financial sectors.

All Verny Capital’s projects, undertaken with international partners, are marked by transparency and high standards of corporate management.

European chapter

As head of the Trading House, the 34-year-old Bulat Utemuratov had a unique opportunity to help Kazakhstan, build a good network across Europe, and develop trade and economic relations between Austria and Kazakhstan. In 1996, following his successful posting in Austria, Mr Utemuratov received a new appointment, as Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan, as well as Permanent Representative to the United Nations in Switzerland.

Mr Utemuratov served as the Special Representative of the President of the Republic of Kazakhstan to Kyrgyzstan.

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Health and social care

Social Infrastructure Projects

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Urban development

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Social Infrastructure Projects

Philanthropy

A dedicated philanthropist, Mr Utemuratov carefully studied international best practices in delivering assistance and implementing systemic solutions. In 2014, he established the Bulat Utemuratov Foundation and is personally involved in its activities covering healthcare, education, environment, disaster relief, sport, culture and urban development.

The total value of projects implemented by the Foundation is over USD$240 million.