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reach a physical branch location. To that end, she first oversaw the integration of all of the bank's IT systems, utilizing her past experience at
Microsoft Russia. The 2017 merger of VTB24, the group's retail banking group, was a big test for merging systems into one comprehensive system. The IT merger put 20 million clients onto one IT system. Merging banking operations was critical to allowing 24/7 access to its banking platforms.
305:. However, that business had not yet been sold by the time she left her position. Another business touted to be privatized was VTB bank; at that point, the government owned 60.9 of its outstanding shares. However, that deal did not happen as well, partly due to the recovery of oil prices generating more revenue for the Russian government to avoid having to sell equity in its businesses.
273:. Her family members, including her husband who works in finance, taught her many terms necessary to operate in a bank. She was hired as a member of the company's Management board. She also worked as the head of the Second Corporate Block, serving the bank's major clients. She worked in this role from 2007 to 2012, before her appointment to the Russian government.
222:'s relatively new Russian operation, which had only existed for 18 months. The operation at the time related to the licensing of the company's programs. She joined in part to gain a global perspective on the technology industry. In 1995, Dergunova was promoted to general director of the company's Russian branch, and she became its chair in 2004.
331:, to raise dividends. Due to the high degree of state ownership, a very large portion of those dividends, if not the majority, would flow to the Russian government and reduce its budget shortfall. Dergunova stated that raising dividends would raise as much as 100 billion rubles ($ 1.7 Billion) in additional government revenue.
241:
One of her biggest roles was to explain the concept of intellectual property to
Russian consumers, with the goal of decreasing piracy and increasing demand for the company's products. In order to improve the sales of Microsoft products in the country, she lowered the prices of the company's products
362:
On June 24, 2016, Olga
Dergunova rejoined VTB Bank, this time as the Chairman of its Management Board and as its Deputy President. Dergunova was put in charge of positioning VTB Bank's digital strategies. Her core initiatives include making it possible to do banking digitally without ever having to
237:
of their products. Software used to be sold in the country unlicensed, so the idea of licensed software was relatively new to the country. Over the course of her tenure, and in the general
Russian market, the piracy of software has declined. However, piracy was still common in the country in the
366:
At the beginning of her tenure, Dergunova sought to implement artificial intelligence into operations at VTB Bank, utilizing it to calculate credit risk. VTB Bank also used AI to automate the opening of accounts for individual components of companies. She also sought to utilize
334:
The lack of an acceptable sell price for equity as well as improving economic conditions in Russia stalled the efforts to privatize the economy. As of March 2019, the
Russian government still owns the same 60.9% share of VTB Bank as it did in the past. The
242:
and hired local residents to sell products to consumers. The programs were also translated into
Russian. As a result of local hiring efforts, in 2005 over half of all Russian IT workers worked for Microsoft, according to Microsoft's estimate.
371:
in its mobile applications and customer service centers in order to better verify a customer's identity and reduce the potential for fraud. In addition, in 2017, VTB Bank, along with other financial services companies, launched a 5-week
160:
Russia. She transitioned to VTB Bank in 2007, working as a member of the
Management Board, before leaving to serve in the Russian Government as Deputy Minister of Economic Development and also as the head of the
663:
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country, following the fall of the Soviet Union. During this period of time, the two primary concerns of
Western IT companies operating in Russia were a lack of demand for their products and the
249:
enforcement, Dergunova usually focused on larger counterfeit software sellers rather than individuals who download the products for personal usage or for small-scale distribution.
165:. She was hired as Deputy President of VTB Bank in 2016. Her main initiatives as Deputy President include preparing the company for digital banking transformations, including
313:
404:
Olga
Dergunova is married and has one daughter, Nina. She met her husband while they were both studying at university together. She likes to play golf, ski, and go camping.
210:
Before joining
Microsoft Russia, Olga Dergunova worked as a sales and marketing director at a Russian IT company. She worked at various IT companies between 1992 and 1994.
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caused by the collapse of oil prices, with efforts peaking in 2016. One of the first businesses that Dergunova oversaw that had the potential to be privatized was
317:
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31:
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350:, claimed that Dergunova slowed down privatization attempts. On April 12, 2016, Dergunova was officially released from her position, succeeded by
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sought to raise capital from Western investors in order to combat budget shortfalls due to both oil prices being depressed at the time as well as
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systems merger for the different subsidiaries of VTB Bank. She started her career in the IT industry before working as President of
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at bargain prices, which would have reduced the government's control of the economy without a large enough return on the sale.
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Startup incubator to help develop different technologies. Also at the beginning of 2017, Dergunova sought to launch a new
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In January 2016, rumors of Dergunova's departure from her government position surfaced. A report by Russian media outlet,
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173:, as well as allowing customers access to their finances without visiting a physical branch location. A 2001
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as well as managing government properties. The overall privatization efforts sought to close the
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At the time that Dergunova entered Microsoft, Russia was slowly being converted from a
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On the other end of the spectrum was a decree for state-owned enterprises, such as
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721:"Russian economy minister says Sovcomflot privatization possible in second half"
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368:
347:
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964:"VTB Supervisory Council decides to merge VTB 24 (PJSC) into VTB Bank (PJSC)"
813:
780:
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503:"Olga Dergunova appointed Deputy President-Chairman of VTB Management Board"
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report listed her among the Top 30 most influential European businesswomen.
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36:
320:. However, the agency led by Dergunova did not want to sell off equity in
903:
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769:"Reshuffle Russian Government to Shore Up Economy, Says Former Minister"
422:"The Most Influential Businesswomen In Europe: Pioneers in Their Ascent"
328:
266:
186:
149:
113:
802:"Russian Central Bank Fears Weak Oil Price Could Threaten Economy"
664:"Russia's improving economy leaves privatization out in the cold"
1041:"CONSOLIDATED LIST OF FINANCIAL SANCTIONS TARGETS IN THE UK"
261:'s Management Board. This occurred shortly after VTB Bank's
497:
495:
493:
491:
389:
153:
904:"Dmitry Pristanskov appointed as Head of Rosimushchestvo"
197:, focusing on computer science and economic cybernetics.
743:"Bad timing for Russia bank privatization plan: VTB CEO"
1091:
Russian individuals subject to United Kingdom sanctions
931:
929:
927:
925:
257:
In 2007, Olga Dergunova left Microsoft Russia to join
879:"Sovcomflot eyes expansion as Yamal LNG nears start"
123:
97:
92:
76:
64:
48:
21:
577:"Source: Dergunova Tapped to Lead Property Agency"
281:In 2012, Olga Dergunova was appointed to head the
632:"In Russia, State Firms Will Stay Public for Now"
269:. Her switch to banking also occurred during the
938:"VTB's digital strategy embraces co-operation"
603:"Dergunova Appointed Chief of Property Agency"
8:
1015:"Russian Banks Launch FinTech Lab Incubator"
380:for VTB Bank, to be launched in early 2019.
283:Federal Agency for State Property Management
277:State Property Management Agency (2012-2016)
163:Federal Agency for State Property Management
989:"Overview: Artificial intelligence of 2018"
526:"Microsoft: Not Behind Russian Piracy Case"
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455:
453:
451:
449:
447:
445:
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358:Deputy President at VTB Bank (2016-present)
29:
18:
195:Plekhanov Russian University of Economics
130:Plekhanov Russian University of Economics
835:"Gazprom's low cash flow, high spending"
694:"Sovcomflot May Be Sold for State Funds"
193:. She studied at and graduated from the
662:Korsunskaya, Darya (October 27, 2017).
464:"The first Tsarina of Russian business"
413:
299:Russian governmental's budget shortfall
287:deputy minister of economic development
144:(born 1965) is the Deputy President of
49:Deputy Minister of Economic Development
1076:21st-century Russian women politicians
552:"Top bankers leave Russia's VTB bank"
524:Serrano, Alfonso (February 6, 2007).
60:29 June 2012 – 12 April 2016
7:
657:
655:
653:
626:
624:
1086:21st-century Russian businesspeople
877:Bakhsh, Nidaa (September 1, 2017).
741:Ellyatt, Holly (January 20, 2016).
1081:21st-century Russian businesswomen
550:Bryanski, Gleb (August 30, 2017).
392:government in 2022 in relation to
14:
16:Soviet businessperson (born 1965)
936:Macknight, Joy (April 7, 2018).
833:Corcoran, Jason (June 7, 2017).
719:Devitt, Polina (July 10, 2017).
800:Ostroukh, Andrey (2014-09-16).
767:Ostroukh, Andrey (2014-09-19).
462:Graudt, Svetlana (2005-04-17).
35:Olga Dergunova as President of
962:EQS Group (November 2, 2016).
189:in 1965, in what was then the
1:
171:distributed ledger technology
271:2007 Global Financial Crisis
218:Olga Dergunova was hired at
214:Microsoft Russia (1994-2007)
152:. She was hired to head the
291:responsible for privatizing
185:Olga Dergunova was born in
1112:
148:, a bank headquartered in
135:
88:
53:
44:
28:
339:also still owns 100% of
181:Early life and education
426:The Wall Street Journal
263:initial public offering
167:artificial intelligence
698:The Maritime Executive
295:state-owned businesses
310:privatization efforts
247:intellectual property
318:annexation of Crimea
285:and to serve as the
253:VTB Bank (2007-2012)
995:. December 28, 2018
866:. Superperformance.
839:Petroleum Economist
806:Wall Street Journal
773:Wall Street Journal
674:on October 27, 2017
394:Russo-Ukrainian War
175:Wall Street Journal
700:. February 4, 2016
638:. January 29, 2016
636:Stratfor Worldview
388:Sanctioned by the
378:mobile application
352:Dmitry Pristanskov
83:Dmitry Pristanskov
322:Russian companies
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910:. April 22, 2016
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860:"Bank VTB (PAO)"
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670:. Archived from
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607:The Moscow Times
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289:. The agency is
245:With regards to
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93:Personal details
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864:Market Screener
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609:. June 20, 2012
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505:. June 27, 2016
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428:. March 1, 2001
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229:country into a
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1021:. May 30, 2017
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968:Yahoo! Finance
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583:. May 23, 2012
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316:over Russia's
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142:Olga Dergunova
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23:Olga Dergunova
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1071:Living people
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747:Yahoo Finance
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400:Personal life
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308:Overall, the
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110:(age 59)
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1047:. Retrieved
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842:. Retrieved
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784:. Retrieved
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750:. Retrieved
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724:. Retrieved
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702:. Retrieved
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676:. Retrieved
672:the original
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611:. Retrieved
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585:. Retrieved
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507:. Retrieved
479:. Retrieved
468:The Guardian
467:
430:. Retrieved
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217:
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206:Early career
191:Soviet Union
184:
141:
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118:Soviet Union
78:Succeeded by
71:Gleb Nikitin
55:
1096:1965 births
238:mid-2000s.
108:15 May 1965
66:Preceded by
1065:Categories
942:The Banker
819:2019-03-19
786:2019-03-19
481:2019-03-19
408:References
369:biometrics
348:Kommersant
341:Sovcomflot
337:government
303:Sovcomflot
231:capitalist
125:Alma mater
104:1965-05-15
1025:March 20,
999:March 20,
993:T Adviser
973:March 20,
947:March 19,
914:March 19,
908:Port News
888:March 19,
883:SCF Group
844:March 19,
814:0099-9660
781:0099-9660
752:March 19,
726:March 19,
704:March 19,
678:March 19,
642:March 19,
613:March 19,
587:March 19,
561:March 20,
535:March 20,
509:March 19,
476:0261-3077
432:March 20,
384:Sanctions
314:sanctions
293:formerly
227:communist
220:Microsoft
158:Microsoft
56:In office
37:Microsoft
1049:16 April
530:CBS News
259:VTB Bank
146:VTB Bank
668:Reuters
556:Reuters
374:Fintech
329:Gazprom
1019:PYMNTS
812:
779:
474:
267:London
201:Career
187:Moscow
150:Russia
114:Moscow
39:Russia
1044:(PDF)
1051:2023
1027:2019
1001:2019
975:2019
949:2019
916:2019
890:2019
846:2019
810:ISSN
777:ISSN
754:2019
728:2019
706:2019
680:2019
644:2019
615:2019
589:2019
563:2019
537:2019
511:2019
472:ISSN
434:2019
169:and
98:Born
265:in
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