Mikhail Lomtadze
Born
Mikheil Lomtadze

(1975-10-17) October 17, 1975 (age 49)
Occupation
  • Technology entrepreneur
    investor
    shareholder
AwardsMedal Halyk Algysy.svg

Mikheil Nugzarovich Lomtadze (Georgian: მიხეილ ნუგზარის ძე ლომთაძე, born October 17, 1975 in Batumi, Georgian SSR, USSR) is a technology entrepreneur[1]; investor[2]; cofounder, shareholder[3] and chairman of the Board in Kaspi.kz [4]; shareholder and chairman of Supervisory Board of the merged Kolesa, Krisha, Market company. According to Forbes Kazakhstan ranking, he takes the number 3 spot among the Top-50 Richest Businessmen of Kazakhstan, worth $3,900 million[5], and the number 10 spot among The Most Influential Businessmen of Kazakhstan[6]. In 2021, he was included for the first time in the Forbes’s list of the world’s billionaires, rated 956th[7]

Education

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Mikheil graduated with BBA degree from European School of Management (Georgia, Tbilisi) in 1997 and with MBA degree from Harvard Business School in 2002[8].

Business career

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Early career

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1995-2000: While being a student, founded the auditing and consulting company Georgia Consulting Group Audit in Tbilisi[9].

In 2002, the company became part of Ernst & Young global network[10][11].

2002-2004: Investment project manager at Baring Vostok Capital Partners[12].

2004-2016: Partner at Baring Vostok Capital Partners[13]. Managed investments in Europlan, Center of Financial Technologies[14]Business guide, and Bank Kaspiyskiy[15].

2003-2005: Head of Russian Venture Capital Association[16]

2003-2006: Chairman of the Board of Directors of Europlan, the Russian leasing company [17]. Made a $20 million deal to acquire Kelvin, a leasing subsidiary of Rolf Group of Companies[18]

Kaspi.kz

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From May 29, 2006 up to the present: A member of the Board of Directors of Kaspi Bank, formerly Bank Kaspiyskiy JSC[19].

July 24, 2007 - November 20, 2018: Chairman of the Management Board of Kaspi Bank[20].

From 2018 up to the present: Shareholder and chairman of the Management Board of Kaspi.kz JSC[21]. The Kaspi.kz Ecosystem[22] under the leadership of Mikheil Lomtadze combines a number of services for individuals and retail companies. It provides an online platform for goods purchase and sale[23] and a mobile banking app [24] in addition to the standard banking products – deposits, loans, and payment transfers[25]. Mikheil Lomtadze is considered to be the number one person responsible for Kaspi transformation from a corporate bank to a tech giant, successful project in Kazakhstan [26][27] As Kazakh business press observers believe, Kaspi.kz under the leadership of Mikheil has a significant role to play in evolution of Kazakhstan second-tier banks into marketplaces[28].

On February 21, 2020, President of Kazakhstan Kassym-Jomart Tokayev held a meeting with Vyacheslav Kim and Chairman of the Kaspi.kz Board Mikheil Lomtadze, at which discussions addressed the digital service development strategy, prospects for e-commerce growth in Kazakhstan and the Company’s plans to support small and medium-sized businesses. The President emphasized the importance of using technological innovations in Kaspi.kz activities[29] One year later, on February 26, 2021, President of Kazakhstan Kassym-Jomart Tokayev held a second meeting with the Kaspi.kz founders Vyacheslav Kim and Mikheil Lomtadze during which promising areas of joint activity of the state bodies and Kaspi.kz were identified, including in the development of non-cash payments in Kazakhstan[30].

In February 2021, Mikheil Lomtadze participated in the plenary session of the annual International Forum Digital Almaty 2021: Digital Reset: Leap to the Next Reality, where political leaders, heads of major IT companies, and international experts discussed the digital agenda of the Eurasian Economic Union[31].

Other projects

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2006-2010: A member of the Board of the Center of Financial Technologies, Russia[32].

In February 2013, Mikheil Lomtadze together with Vyacheslav Kim acquired the merged Kolesa, Krisha, Market company for $15 million[33]. Changed owners of websites and Newspapers the Kolesa and the Roof, and became the Chairman of the Supervisory Board.

In March 2017, Vyacheslav Kim together with Mikheil Lomtadze donated an extensively repaired building with an area of 1,400 square meters to the ‘We will Win Autism’ Project[34].

In 2017, Mikheil Lomtadze invested more than 1 million roubles in Automama.ru, the retail network of used vehicles[35].

In May 2019, Mikheil Lomtadze became a member of Harvard Business School Advisory Board for Central Asia, Turkey, Middle East and North Africa[36].

Awards and honours

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The Order of Kurmet (December 22, 2014) – for significant contribution to development of the economy and domestic banking system [37].

In 2018 and 2019, Mikheil Lomtadze was recognised as the best CEO in Kazakhstan according to the Kazakhstan Growth Forum[38][39].

In 2019 and 2020, Mikheil was recognised as the best business leader in Kazakhstan according the findings of the survey by the auditing company PricewaterhouseCoopers – the respondents called the Chairman of the Kaspi.kz Management Board a leader in the use of new technologies in Kazakhstan pointing out such his qualities as adaptability, strategic vision and customer focus[40][41].

Halyk Algysy Medal (June 24, 2020) – for significant contribution to the fight against the COVID-19 pandemic[42].

In 2020, for the first time in their history the Forbes Kazakhstan awarded ‘Businessman of the Year’ to two entrepreneurs at the same time – Kaspi.kz cofounder Vyacheslav Kim and board chairman Mikheil Lomtadze[43].

References

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  1. ^ "Kaspi Empire: as a Partner of Baring Vostok, Mikhail Lomtadze Builds a Banking-based Service System in Kazakhstan". kapital.kz (in Russian). Retrieved 2021-06-12.
  2. ^ "Two Private Investors Bought Kolesa and Krisha Newspapers and Websites". forbes.kz (in Russian). Retrieved 2021-06-12.
  3. ^ "Kaspi.kz founders met with the President of Kazakhstan". kazpravda.kz. Retrieved 2021-06-12.
  4. ^ "M. Lomtadze appointed general director of Kaspi.kz". Kazakhstan Stock Exchange. Retrieved 2021-06-12.
  5. ^ "Top-50 Richest Businessmen of Kazakhstan 2021". forbes.kz (in Russian). Retrieved 2021-06-12.
  6. ^ "Top-50 Most Influential Businessmen of Kazakhstan 50 – 2020". forbes.kz (in Russian). Retrieved 2021-06-12.
  7. ^ "№ 956 Mikhail Lomtadze". forbes.com. Retrieved 2021-06-12.
  8. ^ "Mikheil N Lomtadze, Chief Executive Officer, Kaspi.KZ JSC". bloomberg.com. Retrieved 2021-06-12.
  9. ^ "Business guide". exclusive.kz. Retrieved 2021-06-12.
  10. ^ "Europlan Smooth Ride on a Bumpy Road" (PDF). Cbonds Page. Retrieved 2021-06-12.
  11. ^ "The Rules of the Game". kommersant.ru (in Russian). Retrieved 2021-06-12.
  12. ^ "BARING VOSTOK INVESTMENTS LIMITED" (PDF). forbes.com. Retrieved 2021-06-12.
  13. ^ "The Most Temporary Government". profile.ru (in Russian). Retrieved 2021-06-12.
  14. ^ "Business guide". exclusive.kz. Retrieved 2021-06-12.
  15. ^ "Kaspi Empire: as a Partner of Baring Vostok, Mikheil Lomtadze Builds a Banking-based Service System in Kazakhstan". rb.ru (in Russian). Retrieved 2021-06-12.
  16. ^ "Permian Period". expert.ru (in Russian). Retrieved 2021-06-12.
  17. ^ "OPIC Provides Europlan 30 Million Dollars for 7 Years". europlan.ru (in Russian). Retrieved 2021-06-12.
  18. ^ "Europlan Buys Rolf Leasing". abinfo.ru (in Russian). Retrieved 2021-06-12.
  19. ^ "Bank Caspian JSC has informed of change in Board of directors and replacement of Chairman of Board". Kazakhstan Stock Exchange. Retrieved 2021-06-12.
  20. ^ "M. Lomtadze appointed Chairman of Executive committee of BANK CASPIAN JSC". Kazakhstan Stock Exchange. Retrieved 2021-06-12.
  21. ^ "Mikheil Lomtadze Acquired Status of Major Shareholder in Kaspi.kz and Kaspi Bank". kapital.kz (in Russian). Retrieved 2021-06-12.
  22. ^ "Kaspi Ecosystem: Transformation System launched". exclusive.kz (in Russian). Retrieved 2021-06-12.
  23. ^ "25 Largest Trading Internet Platforms in the Republic of Kazakhstan". forbes.kz (in Russian). Retrieved 2021-06-12.
  24. ^ "Already 3 million Kazakhstanis use Kaspi.kz". ktk.kz (in Russian). Retrieved 2021-06-12.
  25. ^ "Who Said the Bank should be Boring?". Kapital.kz (in Russian). Retrieved 2021-06-12.
  26. ^ "Kaspi - Central Asian Super App in the Making". Picolinie Capital. Retrieved 2021-06-12.
  27. ^ "How Kazakhstan Banks will Live in a New Ecosystem of the National Bank". kursiv.kz (in Russian). Retrieved 2021-06-12.
  28. ^ "Kaspi.kz – Made in Kazakhstan with Love!". tengrinews.kz (in Russian). Retrieved 2021-06-12.
  29. ^ "The Head of State held a number of meetings". akorda.kz. Retrieved 2021-06-12.
  30. ^ "Tokayev met with Kaspi.kz founders". kazpravda.kz. Retrieved 2021-06-12.
  31. ^ "Annual International Forum Digital Almaty 2021 Started in Almaty". gov.kz (in Russian). Retrieved 2021-06-12.
  32. ^ "Baring Vostok Liked the Golden Crown". vedomosti.ru (in Russian). Retrieved 2021-06-12.
  33. ^ "Changed Owners of Websites and Newspapers Kolesa and Krisha". azh.kzlanguage=ru. Retrieved 2021-06-12.
  34. ^ "The Housewarming of the 'We will Win Autism' Project Took Place in Almaty". forbes.kz (in Russian). Retrieved 2021-06-12.
  35. ^ "Automama Makes it Easier to Get an Auto Loan: Processing Without Leaving Home". inthepress.ru (in Russian). Retrieved 2021-06-12.
  36. ^ "Mikheil Lomtadze Joined the Regional Advisory Board of Harvard Business School". inbusiness.kz (in Russian). Retrieved 2021-06-12.
  37. ^ "Mikheil Lomtadze received the Order of Kurmet". pwc.kz (in Kazakh). Retrieved 2021-06-12.
  38. ^ "Who Is the Best Business Leader in Kazakhstan?". kapital.kz (in Russian). Retrieved 2021-06-12.
  39. ^ "Kaspi.kz CEO Mikheil Lomtadze Recognized as the Best Business Leader in Kazakhstan – 2019 Country's Best CEOs". inbusiness.kz (in Russian). Retrieved 2021-06-12.
  40. ^ "Named the best CEO of Kazakhstan". forbes.kz (in Russian). Retrieved 2021-06-12.
  41. ^ "Moving on intuition" (PDF). pwc.kz. Retrieved 2021-06-12.
  42. ^ "Mikhail Lomtadze awarded the 'People's Gratitude' medal by the President of Kazakhstan". kazpravda.kz. Retrieved 2021-06-12.
  43. ^ "Forbes Kazakhstan Decided on the Best Businessman of the Year 2020". forbes.kz (in Russian). Retrieved 2021-06-12.