March 07, 2019

An address by Ruben Vardanyan: "Thank you for your belief in our shared mission"

I am deeply grateful to everyone who believes in me, in our team and in what we do.

Photo: Danil Kolodin

 

Dear Friends,

Ever since publications regarding the activities of Troika Dialog between 2006–2012 appeared in various media outlets, a huge number of partners and colleagues, friends and associates and even people I haven’t met personally, reached out to me and our offices in Russia and Armenia from all over the world to express their support and gratitude for the projects and initiatives, which my family, our colleagues and our team are implementing. To my regret, I do not have the opportunity to respond to each one of you personally and have therefore decided to publish this open letter. I am deeply grateful to everyone who believes in me, in our team and in what we do. Trust is the most valuable asset, and your unconditional support in the current situation serves as testament to this conviction.

It is difficult to describe just how confused the published materials were: with total inaccuracies, information taken completely out of context, interpretations and pure inventions. Although, it is stated in most publications that there are no accusations against me, I have been targeted as the supposed mastermind for transactions of independent clients of one of Troika’s operating divisions that have subsequently been brought under suspicion. I was the senior partner of Troika Dialog and therefore feel morally responsible to defend our collective reputation. Our lawyers are now researching all the possible legal options to protect our reputation. At the same time, it is curiously somehow forgotten which era we lived in: Troika was founded in the early 1990s, when the investment banking industry did not exist in Russia, and the whole country was in a position similar to that of a startup. Even so, we refused to live under the ‘law of the jungle’ and did everything possible to create a civilized environment in Russia with clear rules and standards of conduct. It is not correct nor impartial to assess Troika’s activities outside of the historical, economic and business context, and measure them against contemporary standards. I will restate, throughout all of its history, Troika did everything in full compliance with the principles of legality and transparency, in line with international standards, and sometimes even set its bar higher than market level.

It is quite telling that my Armenian origin is frequently emphasized in many publications. I am Russian with Armenian roots, which I am very proud of. As a representative of a people who have played the role of a bridge between civilizations for many centuries, I have always strived for dialogue and understanding in all my projects. With its multinational and multicultural environment, Troika served as a bridge between Russia and the world, brought foreign investors into the country and gave Russian companies the opportunity to enter the global financial markets. Today we continue to implement commercial, social entrepreneurship and charitable projects, guided by the same goal and conviction. The Moscow School of Management SKOLKOVO in Russia, the UWC Dilijan College in Armenia, and especially the Aurora Humanitarian Initiative – all of them serve to unite people in a world where, regrettably, many still live in a “friend or foe” mindset.

Dear friends, I once again thank you for your support and belief! I would like to tell everybody: nothing will stop me from implementing the projects we are involved in. I know that this is not the first nor last challenge which we will face. And yet I am certain that together we will overcome all of them. In the end, all that we leave after us are our children and our true deeds, revealed over time. I truly believe, that we can make this world a better place, otherwise none of us have a future. So to those of you, who still believe, join us and let us move forward together.

Yours,

Ruben Vardanyan

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