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7 Questions with Andrey Movchan
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7 Questions with Andrey Movchan
Name: Andrey Movchan
Current title: managing partner
Current organization: Movchan's Group
Movchan has been a top executive for Russian and international financial institutions since 1993. He was an executive director of Troika Dialog for six years. From 2003 to 2009, Movchan headed Renaissance Investment Management Group, which he founded, and from 2006 to 2008, he was the CEO of Renaissance Credit Bank. He also founded the Third Rome investment company, and was its CEO and managing partner from 2009 until the end of 2013.
Movchan is one of Russia’s best known financial managers. He was named “the most successful CEO of an asset management company in Russia” by Forbes in 2006 and “the best CEO of an asset management company” by the Russian magazine Finance in 2008. He has won numerous awards, including the RBC Person of the Year Award in 2006, the Chivas Top 18 Financials Grand Prix in 2007, and SPEAR’s Russia Wealth Management Awards in the Industry Legend category in 2009.
Movchan has also authored numerous publications on economics and finance. His op-eds and commentary regularly appear in the media. He won two PRESSzvanie business journalism awards in 2011 and 2013.
1. What have you found most challenging as a CEO or executive of a large enterprise?
Finding right people to form the management team
2. How did you become a CEO or executive of a large enterprise? Can you please briefly tell the story?
It was in 90ties in Russia when managers were in severe deficit, and knowing the subject and being able to plan actions were enough to become a top manager
3. How do you structure your work days from waking up to going to sleep?
Usually the carcass of the day is formed of meetings, scheduled according to the availabilities of people I meet to. The empty spaces are filled with routine and internal discussions. I do not have any specific preferences with regards to timing of activities. I usually work from 8am till 5-6pm, except for Saturday, and few hours on Sunday
4. What's the most recent significant leadership lesson you've learned?
It is hard to pick one - lessons come all the time. Maybe the most evident one from the recent past is the paramount importance of trust within the organization for the successful management of it through crisis times
5. What's one book that has had a profound impact on your leadership so far? Can you please briefly tell the story of how that book impacted your leadership?
The ultimate goal of each book is to entertain, not to share knowledge. Even the memoirs rather aim to allow the author to show off, than to share the experience. That's why I'm sceptical about learning from books. Instead, I learn much from people I worked under command or together, people who's actions are public.
6. How do you build leadership capacity in a large enterprise?
Mostly through delegation and inspiration of your direct subordinates, showing them your capacity as a leader, projecting trust and at the same time encouraging them to take responsibility, risks and feel like "owning the business"
7. What is one meaningful story that comes to mind from your time as a CEO or executive of a large enterprise so far?
There are so many... One of them would be how we made a breakthrough in growing the asset management business in Renaissance Group by switching from the numerous KPIs, assessments and discretionary bonus system to simple profit sharing - management immediately shifted from playing with figures to fighting for efficiency and growth.