Oracle Capital Group, the global independent multi-family office and wealth consultancy has established a strategic alliance with Third Rome Group to expand its presence and reach within the Russian investment services and wealth management markets.
Third Rome Group provides a broad range of services including asset management, investment consulting, trading, corporate finance, asset and deal structuring services. It is ranked by Institutional Investor as one of Russia’s top 20 Money Managers. It was founded by Andrei Movchan in 2009.
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Prior to establishing Third Rome Andrei was Chairman of Renaissance Investment Management and Chief Executive Officer of Renaissance Bank. Previously, he served as Executive Director at Troika Dialog for 6 years.
Under the agreement, Oracle Capital Group has acquired, for an undisclosed sum, a blocking stake in the Third Rome Group holding company. The agreement will enable Oracle Capital Group to expand its service offering and increase its exposure within the Russian wealth markets. Third Rome Group will continue to operate under the Third Rome Group name.
As part of the transaction, Martin Graham Chairman of Oracle Capital Group will join the Board of Directors at Third Rome Group as Group Co-Chairman with Andrei Movchan also sharing the role as Co-Chairman. Danilo Lacmanovic, former President of Third Rome Group, is appointed CEO.
Martin Graham, chairman of Oracle Capital Group and co-chairman of Third Rome Group said: "In the Third Rome Group, we were attracted to the highest quality products and services that their exceptional management has developed. The strong partnership will provide Oracle Capital Group direct access to the Russian market, proven technologies and a unique opportunity to take a market leading position."
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By GlobalDataAndrei Movchan, co-chairman at Third Rome Group said: "This is a very exciting development for Third Rome Group. The partnership will allow us to obtain access to important international markets and, through Oracle Capital Group’s hugely respected and comprehensive service offering, enable us to offer an unparalleled service in the Russian market".
