Federal Agency for State Property Management approves RWM Capital Asset Management (JSC) top management representatives as independent directors of 2 Russian companies. This decision is associated with the initiative of the government of the RF to increase influence of independent directors and improve efficiency of corporate management in companies with state participation. Independent directors shall immediately participate in elaboration of company development strategy, ensure internal control, and promote efficient interaction with investors.
According to Department protocol dated June 9, 2012 Felix Blinov, Chairman of the board of directors and Managing director of RWM Capital Asset Management (JSC) was appointed the Head of the Board of Directors of Joint Stock Company «Design and Research Institute of Air Transport «Lenaeroproject» and became a member of the Board of Directors of Scientific center for operating safety in coal industry NC VostNII (JSC). Besides, according to the decision of Federal Agency for State Property Management, Nikolay Molchanov, Director for Strategy and Development at RWM Capital Asset Management (JSC) became a member of the Board of Directors of publishing House Sovremennik (JSC).
«Federal Agency for State Property Management is an authority, which takes into account modern environment, not being afraid of operations under new economic conditions», said Felix Blinov. «They change themselves and take certain measures to ensure that positive changes affect enormous amount of state companies. Managing these assets, Federal Agency for State Property Management makes them to write strategies, compile new business plans, implement innovative programs, and effect reorganization. Previously, this was not the case for state enterprises, and they were not recruiting such experts. It became clear, that the possibility to do so comes only from the outside with the support of experts, who already used this for multiple times in their business. We became such specialists. RWM Capital Asset Management experts have implemented new strategies in design companies for many times. Our expertise and knowledge positively affected their subsequent development. It is a pleasure for us that the state gave us credence, and we consider that our experience and efforts for the benefit of a certain organization will promote overall success and prosperity of the country».
«Corporate governance became an important factor of business development, which is getting more and more topical», said Nikolay Molchanov. «Involvement of independent directors is an objective necessity. It becomes clear, that correct and coordinated strategic decisions, which will promote development, and not stagnation, are only possible subject to establishment of efficient management, including from business shareholders. To this end it is necessary to involve experts, who will professionally fulfill functions of independent corporate directors».
RWM Capital Asset Management (JSC) was established in November 2005. At present, RWM Capital Asset Management is among the leaders of the Russian market of trust management. The company was assigned an individual reliability rating of АА- level (reputation is described with very high level of trust by the clients and counterparties) according to National Rating Agency, and reliability rating of А+ level (very high level of reliability and quality of services) according to Expert Rating Agency.
The company has license of the Federal Agency for Financial Markets to provide services of management of investment funds, mutual funds and non-state pension funds No. 21-000-1-00798 dated March 15, 2011. Main activity of RWM Capital Asset Management is management of close share investment funds of mixed investments, real estate and private equity investments. Today RWM Capital Asset Management manages 6 closed share investment funds. Net asset value of mutual funds managed by RWM Capital Asset Management as of March 31, 2012 exceeds RUB 32.5 billion.
