CPMI Experts took part on conference “Federal property management: global practice and Russian realities”, which was organized by Financial University under the Government of the Russian Federation and Agency “Mergers & Absorption”.

In the first session, "The approach of the state to the ownership, administration and management of federal property," the participants were informed about the planned changes in the legal regulation of state registration of rights and cadaster. The special guest of the first session was Andrew Baum, professor emeritus at the University of Cambridge, a leading expert on the assessment.

CPMI Experts managed at during coffee break between sessions to chat with Andrew Baum:

CPMI: Andrew, how do you think, can we say that the management assets and property of the organization is the main direction in system of corporate management?

Andrew Baum: Definitely, no! The system of corporate management is a huge, where everything is reservoir, which operates in close relationship with other areas.

CPMI: What can serve as a catalyst for improving the management of the assets and property of the organization?

Andrew Baum: First of all, professionalism. For effective asset management is important to be highly competent not only in this area but also in the assessment of tax and accounting. We, therefore, returned to the answer to the previous question - corporate management requires different specialists in specific areas, which in co-operation will be much more effective than individually.

In the second session of the conference "Financial and legal aspects of federal property management in the era of sanctions and the turbulence of the economy," Sergey Eremin, PhD., Associate Professor in Financial University, presented the consolidated information on current issues in the modern management system of foreign ownership of the Russian Federation.

During the discussion future reports were related to the effect of sanctions on the company's investment portfolio. On the question of the CPMI Expert answered Sergey Dobrynin, head of the Center for Strategic modeling parameters Gazprombank:

— Serious ruble volatility and certain tendencies to revise the activities of banks in connection with the sanctions policy leads to changes in interest rates, which, of course, requires companies of a similar revision on reducing investment. However, we are currently providing services to the Group of companies "Gazprom", tried to ensure the effectiveness of not only for the bank but also for the group, thereby achieving a synergistic effect, which is reflected in our proposals.

Third session of the "Expert and consulting support federal property management" started from Olga Losev’s report, PhD. in Economics, Professor of Finance University under the Government of the Russian Federation. The report has been devoted to improving the investment attractiveness of regions.

The answer to the question of CPMI Expert Olga Loseva told about the methods which have improved the level of innovative development of the Penza region, further confirmed the findings from recent studies of CPMI, about the need to expand innovative cooperation between universities and enterprises, thereby stimulating the completion of the research capacity of universities and companies reducing the costs, introducing advanced technology and manufacturing innovation. Results of the study CPPMI are planned to be published in the second issue of the corporate magazine.

In connection with the introduction in 2014 of the new Code of Corporate Governance was seen particularly interesting part of the CPMI in the round table on the activities of the independent directors.

Andrei Galitsky, an independent Director of "Time", and Oleg Osipenko, CEO of "Rincon Gamma", answered CPMI Experts’ pressing questions on the development of strategies and implementation of the key performance indicators, as well as the applied systems of remuneration.

After the conference CPMI Experts were able to discuss with Andrew Galitsky risk management issues in companies:

CPMI: Andrew, we know that there is a problem in the company management system, which consists in the fact that decision-making on risk management often requires quite a long time. How does this process involves independent directors, and can their implementation be seriously to improve the performance of companies?

Andrew Galitsky:Independent Director shall not go into the operating activities of the company. It is the prerogative of the risk manager to identify risks and inform the Board of Directors, which is carried out considering further plans to solve them. Of course, there are cases where everyone says that the probability of a insignificant risk, and they do not pay attention! But later, as a rule, it was that he shoots.

CPMI: That is, we are talking that the Board of Directors should have a matrix of responsibility who, what, and in what time is responsible?

Andrew Galitsky: Yes, indeed, improve the effectiveness of Board of Directors and independent directors is to reduce the number of explicit or implicit conflicts of interest. It is often the Board of Directors of, as a body that defines the strategy of development and fixes for certain decisions of the executive bodies, itself composed of representatives of executive bodies.

CPMI: What can you say about the situation in companies, which faced with development strategies? Do they? What is the depth of their study?

Andrew Galitsky: In fact, the number of companies that have development strategy, is quite small. When you come into the company without a strategy as an independent director to have to start from the beginning: to evaluate current assets, to consider options for possible development. Thus, today, the issue of increasing competencies and corporate management culture is now facing domestic companies rather sharply.

As a result of the conference, CPMI experts exchanged with members of the conference with views and opinions on topical issues in the areas of corporate management and risk management, which will be reflected in future studies of the Institute.