The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Internet brokers pioneer in the provinces

Russia


What was the leading Russian stock market broker in volume last year – Troika Dialog, Renaissance Capital, UBS? No, it was Alor-Invest, a brokerage little known among foreign investors, yet capable of commanding about an 11% market share of the RTS and Micex combined.


Anatoly Gavrilenkov, chairman of Alor-Invest, explains: “We are a very modest and small company. It's more of a family business than anything else. Yet despite this, we won first place for volume.”

Gavrilenkov knows he can't compete with such houses as UBS or Troika in some aspects of investment banking. “They have a lot more money than we do,” he says. “They have a lot of foreign clients, while we have only Russian clients. But in order to survive, we had to be aggressive. And now, they are obliged to take us seriously.”

There are two reasons for Alor-Invest's success. First, the brokerage took pains to reach the parts of the Russian market that bigger brokers couldn't reach. In particular, it has targeted the regions, via 15 offices. Secondly, it has used the internet to reach out to these provincial investors.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree