Creation of a real estate portfolio across Europe
N&T are a couple of extremely busy executives of major US corporations at CEO and MD level. They are based in Europe and both travel intensively from the USA to Asia. They wished to buy real estate properties to both diversify their current financial assets, and set up a family home for the future. They also wished to take advantage of favorable financial leverage while interest rates were at a historical low.
Since 2008, Dergatcheff has built for and with them an international real estate portfolio with properties in the UK, France, Spain and Switzerland.
For each property, Dergatcheff assessed the financial situation and N&T's long term goals. Together they defined a strategy tailored to their financial expectations and their personal tastes, real estate always involving an emotional input in addition to the prospect of financial return.
In each of the target countries, Dergatcheff S.A. carried out a dedicated search on the visible market with his partners and checked the unseen market through Dergatcheff S.A. business network. For each transaction, these clients with only scarce time available needed only a few hours in each city to visit the properties Dergatcheff had shortlisted along with all the elements needed for a swift decision.
Dergatcheff handled all negotiations towards an attractive and fair price in the given market situation and coordinated the transactions with legal and tax adviser, where necessary.
In parallel, Dergatcheff 's long standing reputation with local banks enabled Dergatcheff S.A. to secure for their clients the best mortgage offers, comprising not only low interest rates, but also legal and financial conditions non local buyers very seldom obtain.
For one of the items in N&T's investment portfolio, Dergatcheff initiated and monitored the completion of a real estate development on the newly acquired property that produced, within 2 years, a 140% return on invested funds while most financial and real estate markets were enduring very troubled times. Read more
Advisory of the CEO and founder of a new financial company based in London with a focus on emerging markets
AVMT is a London based consulting and capital services firm serving wealthy European family offices and international firms. It was founded in 2004 when Alexis turned entrepreneur after a lengthy and successful management career in Business, Finance, Law and Diplomacy.
Stephane Dergatcheff has counseled him since the onset and over the years significantly contributed to:
• Gearing development towards new business territories with ventures in Europe and emerging Eastern European markets
• Identifying investors for early stage projects through his international financial network
• Steering the young ventures through the turmoil of the 2008 crisis, thanks to his experience in venture capital gained in the 80's
Over the years, Dergatcheff's and AVMT's respective client and supplier network naturally grew, interconnected and multiplied. Read more
ADVISORY FOR A MAJOR RUSSIAN HOLDING (NO 100 privately Russian Co)
SD advised the main shareholder of XYZ, a major Russian holding company owning assets in diverse sectors such as one of the leaders in steel trading company, one of the most successful retail companies of the last decade and successfully expanding in the regions, a bank and various real estate companies.
The initial challenge was to overcome the lack of overall internal visibility among the scattered business lines that had been locally set up and had developed at varying paces at times of evolving economic and regulatory environment
Stephane Dergatcheff's invaluable advice led to:
• Reorganizing the individual business structures to ensure better overall visibility, sound corporate governance practices and transparency.
• Building on the small size of the 20 years active bank and the invaluable network of the main shareholder to orient the activity towards new advisory services for its customers
• Adapting the overall holding structure to improved management practices and clarity
• Gaining access to reduced loan rates at a time when Russian debt was very expensive
Thereby improving financial appeal and access to foreign investors and partnerships and expand abroad where and when necessary
Acquisition and development of business assets in EU
Mikhail is a partner and an advisor to top 10 Russian businessmen. Having graduated from one of the top US business school, Mikhail had already high level experience and network, not only in CIS region, but also abroad. When he decided to acquire and expand his personal business in Western Europe, Mikhail turned to us for advice.
Mikhail had already acquired a factory in Western Europe, but had to face unexpected challenges. He had a clear and original vision, as many Russian businessmen who aren't afraid to step into new territories and new fields of activity. He understood perfectly that many things were about to change in the European energy industry and he intended to become a pioneer in the development of green energy.
Dergatcheff advised Mikhail to go beyond classical marketing studies and gain deeper insight in this market, to focus on the legal and financial aspects, the new expected trends, the local and European lobbying, the key success factors in this business, etc..
Through our network, our painstaking data collection and confidential meetings with key players in the field, Dergatcheff could present Mikhail with an accurate insider picture of this fast moving market. With reliable and significant information, Mikhail was enabled to make the right decisions for his new business in a field and a geographical area in which he had no prior experience. He could thereafter adapt swiftly to local constraints and use the strong personal managerial skills he had developed in Russia to successfully launch and manage this new business.
The experience he gained with Dergatcheff's advice led Mikhail to consolidate the return of this first acquisition and suspend further investment in the field until EU regulatory policies were stabilized Read more
Family relocation in Europe and Switzerland, comprehensive services
Dergatcheff's chief purpose as a financial advisory company is to help our clients to be more profitable. But our work, at times, goes far beyond!
Vladimir, a successful businessman operating in Russia, and his wife Anastasia wished for their family to avoid long Russian winters and for their 3 children to be brought up in a francophone country. He was ready to run his business by commuting to and from his home country.
They turned to Dergatcheff, early July for relocation to be effective by September, in time for their children to start school.
The challenge in a very short timeframe was to determine the target location, identify rental properties meeting the clients' requirements, negotiate a rental contract, secure residency permit for a non EU family and ensure the children's school enrolment.
Over this short time span in the slowdown of the holiday season, Dergatcheff
• Shortlisted 5 properties and procured within two weeks a lovely house over the French border with Swizerland and 15mn away from Geneva center and international airport. This specific area being in high demand Stephane Dergatcheff drew on his expertise and network in the unseen market and on his negotiating skills to secure a contract with the landlord.
• Coordinated administrative and legal procedures with the French authorities, the French consulate in Moscow and one of Dergatcheff's lawyers in Paris.
• Obtained for the whole family all legal documents to reside in France.
• Registered, past the normal deadlines, Vladimir and Anastasia's three children in elite Swiss schools for some and nearby French public schools for the others.
Within two months, Dergatcheff had completed the assignment and securely relocated the whole family.
We have come to understand that achieving long term financial profitability isn't our clients' only purpose. And when they approach us to help relocate in the UK, Switzerland, France, Italy or Spain we understand that for this particular matter they seek to rely on the same professionalism, integrity and responsiveness we demonstrate in financial advisory assignments and on the proficient network we have painstakingly built over generations. Read more
Advising the CEO of a young bank in a fast growing economy of the CIS region towards national and international development
BBB Bank was founded in 2007 by shareholders with a clearly defined long term vision, with a European orientation and strict reliability and transparency operating criteria in a country with lasting remains of soviet procedures.
Stephane Dergatcheff's prior work with the CEO on other matters had allowed them to build mutual trust and understanding so he was asked to join the project at an early stage. Two challenges were to be taken up:
• Develop on the national market in the face of local competition with a 20 years headway
• Venture abroad to Western markets where, at best, the country was barely known or, at worst, the country had a negative reputation.
Over the past 5 years, Stephane Dergatcheff contributed fresh vision and ideas to the strategy defined by BBB's Board and Management and instilled new skills and routines at middle management levels.
In order to shed past soviet mentality remnants the shareholders were determined to invest heavily in young employee training. In house training modules were set up by Stephane Dergatcheff as well as external seminars with top international banking institutions such as Geneva's ISFB, who were impressed by the advanced level of qualification shown by the trainees involved and their success at exams local bankers found hard to pass…
Furthermore, over the years Stephane Dergatcheff brought in elements of his network to contribute new ideas and special skills in their specific area of expertise. Stephane Dergatcheff triggered foreign partnerships with financial companies, banks and institutions that rapidly leveraged know how, products and networking.
Stephane Dergatcheff's close work with the CEO allowed steering the Bank's expansion both at the national level as well as in foreign markets, through the potential acquisition of existing banks and/or set up of a new financial company.
Only 7 years after its inception the bank received best awards in investment banking and in private banking …
Here again, the pioneering spirit helped develop both new services for the national market and a significant presence abroad where, despite the negative reputation of the country abroad, the bank itself was considered respectable.
Advisory to a Hedge Fund
Fund XYZ is a Global Macro hedge fund whose return since inception in Oct. 2004 is + 111.70 %. During this period, the fund was positive in 2008 when most managers in the fund industry endured substantial losses. The offices of the Advisory Company are located in London, but the team also has people in Europe and in Turkey. Stephane Dergatcheff himself has been involved as external advisor for the past 7 years.
Fund XYZ has achieved this impressive and stable performance thanks to an extensive knowledge of the financial markets (all the fund's managers and advisors have more than 20 years market experience) including specialist expertise in emerging markets which have greatly contributed to the performance of the recent years.
Through his network and the mutual trust, Stephane Dergatcheff brings significant expertise of the emerging markets (and) mainly in Russia, but also in other CIS countries which offer less well-known but potentially valuable opportunities.
Stephane Dergatcheff is also advising the Fund XYZ with their marketing strategies in these promising regions through his extensive network of contacts and clients which he has developed over many years.
Building on 17 years of experience in finance and management, of which 9 years with Russia and other emerging CIS countries, Stephane Dergatcheff began his independent consulting work in Moscow in 2002 at a time when most foreigners had deserted Russia due to the 1998 crisis. He was among the first of a new generation of financial advisors to enter the Russian market and decided to bet on the signs of coming improvement in the Russian economic and regulatory conditions. He also understood the need to be close to his clients, the new serious Russian entrepreneurs.
Among his first assignments he advised Dmitry Pyatkhin, the CEO of Sovlink, an investment bank owned, at that time, by Viktor Vekselberk and Len Blavatnik, on the development of new financial services in Russia and new foreign partnerships.
Stephane Dergatcheff pursued his advisory work over a period of fast economic growth with owners of medium and large businesses located in Moscow, Russian regions as well as in other CIS countries.
In 2006, with private consulting assignments involving extensive traveling, he chose to return his base to Switzerland where he had already been involved in the 90's within various banking institutions (ncluding Credit Suisse, amongst others) with a pivotal coordination role in departments dedicated to Russian and CIS clients and providing a full range of services from corporate business to investment banking, from asset management to trade finance. (c.f. Stephane Dergatcheff's Biography)
In 2007, spurred by a growing customer base, a fast expanding market and clients' demands requiring diverse professional expertise, Stephane Dergatcheff moved from an independent consultant status into a more formal partnership and founded Dergatcheff & Associés, with accrued visibility and transparency.
Geneva proved to be an outstanding platform providing excellent environment, convenient European and Eastward travel connections and favorable conditions to maintain and expand business networks. Furthermore, since 2007 Switzerland has stood out as a bright spot of sustained growth in the midst of a crisis ridden and depressive Europe.
In 2011, considering his sustained growth and his clients' adoption of Geneva as their hub Stephane Dergatcheff resolved to switch his legal structure to a Swiss S.A. which represents the highest level of respectability, transparency and customer protection available in Switzerland.
Furthermore, in 2011 Dergatcheff & Associés, extended its offer to new clients from emerging countries in Asia by hiring a first Chinese employee, Liang Zhao, who held two MBAs, one completed in Shanghai and the second in Europe. Dergatcheff & Associés was one of the first Swiss companies to take part in the Shangai Fair in 2011.
In 2013, after contributing to a variety of projects with Dergatcheff & Associés, Elisabeth Tschyrkow committed to its real estate department her development skills proven over 30 years career with top financial institutions. Her extensive international experience in the USA, UK, continental Europe and regional responsibility of the Middle East and Africa, in financial services/investment bank environment, confers to our clients a decisive added value at a time when European property markets have become very complex, with sharp value increase in certain areas and drops in others.
In 2014, seven years after founding Dergatcheff & Associés, and after consulting his clients' preference for a brand name, Stephane Dergatcheff chose to rename his advisory firm as Dergatcheff S.A. The ownership and Swiss legal structure remain the same.
We thank you for your continued trust and are happy to present our new web site and our new logo. As we strive to help our clients expand, go global and increase their wealth we are aware that it is essentially their challenging demands that make us grow. We are grateful of these opportunities to excel and are truly proud to deliver. Read more
Stephane Dergatcheff specializes in Corporate and Investment banking, strategic advisory and emerging markets, building networks, connecting and expanding successful businesses east to west, relying on 29 years of professional experience in operational management as well as external advisory, in Western countries from USA to Western Europe and in Emerging markets, from Eastern Europe to Asia. He has started his career in 1985 as an auditor with stockbroker Schelcher-Dumont-Prince in Paris, pursuing his carreer experience with HSBC, Credit Suisse, and Meryl Lynch till 2002 when he started working as an independent advisor and founded Dergatcheff. Over the years, he led Dergatcheff and Associates to expand and become a well respected family owned advisory and real estate office counseling clients with projects in the range of a few million as well clients managing businesses with multi billion turnover and valuation.
He is a French citizen born in 1964 to a French mother and a Russian father whose white Russian family had fled the 1917 revolution. He was raised in a double culture, fully French and Parisian while immersed in the whirlwind of ideas and creativity so typical of the Russian émigré community settled in Paris during the 60s to 80s, when Russian grandparents were still around to pass on pre-revolutionary traditions, while always maintaining strong links across various continents. Over centuries, both Russian and French sides of the family passed down to the next generation the gift to build new businesses, to acquire and run farmland and real estate, to weave links between countries and cultures. Stephane Dergatcheff has a Master's Degree in Finance (MSG), Dauphine University, Paris, France and has also studied accounting and management at René Descartes University, Paris, France, and history and political sciences at Institut Catholique de Paris.
Stephane Dergatcheff earned a stock broker accreditation in 1999, FSA (UK) and SERIES 7 (USA).
He is the father of 2 boys, enjoys sailing and is keen on contemporary art from emerging markets. He developed partnerships for UNESCO with the private sector to successfully finance art exhibition openings and their promotion.
He fell in love with Switzerland for the relief it brings after intensive professional travelling. He enjoys downhill or cross country skiing in the beautiful Alps. Alternatively he loves sailing on the lake. And last but not least, he regularly needs to return to his home port in Saint-Briac, Brittany, not only for the Yacht Club activities, but also to nestle in the family house or read a novel under its huge scented pine trees.
Stephane Dergatcheff started his career in 1985 as an auditor and a trader at the Paris stock exchange with Schelcher-Dumont-Prince (now Amundi Grup) and Fauchier-Magnan-Durant des Aulnois (now ODDO & Cie). Stephane Dergatcheff went through one of the worst financial crises of the XXth century, after 1929, in 1987. For a 23 years old trader at that time, it was a highly instructive experience that later proved invaluable when he came to advise his clients throughout the string of crises of the new emerging Russia … and the 2008 crisis. (In the Fall 2007, he was one the few financial advisors to meet his client in Russia and CIS countries and to strongly caution them against their bullish positions, aggressive expansion plans in Russia and abroad and their business' high financial leverage …)
In 1988 Stephane Dergatcheff was bound to move on to more operational responsibilities and joined the team of Innovation et Gestion Financière, one of the first French venture capital companies, recently founded by a creative and talented French businessman who was already one of the top 20 richest French in his 40's…. an unusual feat in the highly conservative French business community. With IGF, Stephane Dergatcheff had the opportunity to develop his skills in management, industry, business development, business transition and reorganisation of or restructuring of or turning around of (invaluable later in emerging markets) Roberto, an ailing food start-up, into a model example in its sector.
Stephane Dergatcheff had visited Russia as early as in 1981, when joining at 15 years old a Soviet Summer camp in the Moscow region. He travelled again in 1990 in what was still, USSR, on the brink of collapse. Being pioneer oriented, but conservative minded with a western background, Stephane Dergatcheff thought that it was too early to start working in a wild USSR, though he had already clearly decided that his later career would definitely be Eastward oriented, to help the new emerging economies to follow their path in the future changes. In the early 90's Stephane Dergatcheff undertook strategic and organizational audit with ACCOR across European countries, including Western Europe, with Bulgaria in 1991, and was a advisor with BMW France overlooking 20% of their car dealers to improve their sales and marketing strategies, and their financial profitability.
In 1993, Stephane Dergatcheff started his career in Russia when he moved to Moscow with Pechiney World Trade (now Rio Tinto) in the aluminum business that was undergoing rapid and violent restructuring. Being in Moscow in 1993 in this business gave him outstanding insight into the big changes impacting Russian business and Russian citizens at that time, with consequences which still affect today's business and politics in Russia and CIS. This very experience of the early 90's in Moscow conveys full accuracy of his analysis and authentic value of his advice to Russian clients and partners.
In 1994, with the first signs of a Russian budding financial sector, Stephane Dergatcheff's pioneering spirit led him to join HSBC (CCF at the time) and bring his Western stock exchange experience to advise Sberbank in its new equity business; furthermore he coordinated this assignment with the VP of the Central Bank of Russia.
Convinced that the new generation of Russian entrepreneurs needed financial services that Russian banks at that time couldn't offer, Stephane Dergatcheff presented a business plan to Credit Suisse management - the only Western bank with a real interest to expand in this part of the world- and set up in Geneva the first desk dedicated to Russia and CIS with a pivotal coordination role in departments dedicated to Russian and CIS clients, providing a full range of services from corporate business to investment banking, from asset management to trade finance.
In 1999, the Chief Marketing Officer of Merrill Lynch international bank, asked Stephane Dergatcheff to join his team in London and develop the first desk, worldwide, dedicated to Russian and CIS clients. With prior experience with major European and Swiss banks, working at the top level with one of the best American investment banks between, NY, London and Moscow at time when ML was the leader of financing IT and strongly developing on new markets in Europe and in Asia, Stephane Dergatcheff could offer his clients access to a know-how, trusted network insight and services they never had before.
In 2002, Stephane Dergatcheff believed it was time, after already 17 years experience in different businesses, cultures and geographical areas, to start advisory work with a totally independent status, free from political influence and "market pressure", to advise the new generation of independent successful entrepreneurs and bankers, who after the turbulent period of the 90s, really needed direct counseling on how to transform their assets and businesses in a more transparent, more efficient mode, more open to Western partnership and know how, with improved organization towards more profitability and sustainability to face not only their Russian competitors, but also foreign competitors now targeting Russia and CIS as a "normal destination of growth". Read more
Elisabeth Tschyrkow has over 35 years experience in financial services, operations and marketing sectors, with leading American and international/global Companies. Her focus for the last 17 years has been Russia, Eastern Europe and emerging markets. She also has an extensive international experience in the USA, UK, continental Europe and regional responsibility of the Middle East and Africa, in financial services/investment bank environment.
With over 8 years at Citigroup, including 2 years at Citibank Russia, having joined in 1996, as a Vice President, head of customer services for the corporate bank, she also served on the management board of Citibank (Russia), Moscow. At Citibank (Russia), she hired, trained and empowered a customer services team of officers in Moscow and St. Petersburg to turn around the service level and developed a corrective action plan in compliance with the Central Bank of Russia. Subsequently, at Citigroup she held regional responsibility in London for Central and Eastern Europe, Middle East & Africa, across 31 countries, with responsibility for the corporate bank customer service excellence, operations efficiencies and systems migrations.
Earlier in her career Elisabeth Tschyrkow worked in New York, at management level, for 20 years with financial companies such as American Express, City Federal Savings & Loan Association and Dun & Bradstreet Corporation in a broad range of functions. Dergatcheff & Associés was set up in 2007 and Elisabeth Tschyrkow joined as an Associate in 2011 and her focus has been real estate management, client services and business development projects for challenging western and emerging markets business clients.
Education Elisabeth Tschyrkow holds a Master of Business Administration (Finance) and Bachelor of Science BS (Marketing) from Syracuse University, New York. She was born in Paris, France and has worked/and or studied in the USA, UK, Russia, France and Switzerland. She is trilingual (English, French and Russian), with Russian origins/Lermontov ancestry and is both a UK and US national.
Other interests include skiing, hiking and painting - she has exhibited at UN and WIPO. Elisabeth Tschyrkow has volunteered on various charity committees, such as Russian Children's Welfare Society, in NY and 100 Women in Hedge Funds Philanthropic committee in Geneva as well as the Syracuse University Alumni Board in New York. She belongs to various organisations, such as the FENG (Financial Executive Networking Group) in London and SRSSC (Section romande de la Société Suisse-Chine/Swiss-Chinese Society in French part of Switzerland, Romandy).
As a lawyer, Nicolas Remy-Neris assists international and domestic clients on several matters, such as providing assistance in connection with the sale or purchase of privately-owned companies or assets with a particular focus on cross-border transactions involving foreign buyers or acquirers, setting-up joint-ventures and partnerships, corporate re-organization, vast range of litigation assistance before French national courts, Arbitration procedures (France & UK), negotiation and implementation of contract policies in the Russian Federation, CIS countries and Eastern European countries.
Nicolas Remy-Neris has been a lawyer for 20 years, working in several law firms (Salans, Rambaud-Martel, Price Waterheouse Coopers) and as in-house lawyer. Over the years, Nicolas Remy-Neris has specialized in
(i) Real Estate legal matters, while being Legal representative of the residents' board for several condominiums for 15 years
(ii) Contract law while working as in house lawyer for a French listed company, providing legal support to the subsidiaries established in the Russian Federation, Germany and Eastern European countries
(iii) Litigation assignments while working at Rambaud Martel
(iv) M&A assignments while working at Salans Denton.
Having been on both side of the "lawyer-client" equation is a unique experience on which Nicolas Remy-Neris has built a real expertise by developing legal solutions aiming at translating in a pragmatic way the needs of the business people.
While being an attorney in charge of Managing and mediating personal and legal conflicts between company board members, companies, contractors, Joint Venture partners, Nicolas Remy-Neris has developed a strong interest for psychology and collaborative law, and a strong ability to deliver proactive and solution-oriented legal support, equitable and constructive assistance in any business relationship.
Education: French Bar (1995), Master Degree in Business and Tax law (University of Paris II Pantheon Sorbonne, 1994), Master Degree in Competition and Contract law (University of Montpellier 1993); Business & Tax Law Institute (IDA), University of Paris II Pantheon Sorbonne, 1992), Law Degree in Business Law (with major in German Law) (University of Paris II Pantheon Sorbonne,1992).
Nicolas Remy-Neris is a French citizen, born in 1969, and is married with two children. He is fluent in French, English and German. When in Paris on week-ends, he enjoys driving around his 1952 Russian Ural sidecar motorcycle with his children for a night ride or a Sunday morning "croissants chasing" at dawn in the cafés of the Ile St Louis, one of his most romantic spots in Paris.