Speaking to the 10th Anniversary Dinner of the United States Russia Business Council, Alfa-Bank Chairman Mikhail Fridman announced the creation of a major new international investment award sponsored by Alfa-Bank and the Lauder Institute of the Wharton School of Business in the U. S. The Alfa-Bank and Lauder Institute Award will be presented to the foreign investor in Russia who compiles the best record of business success while at the same time making a substantial commitment to corporate conduct in Russia. The two main criteria for the Award, which will be decided by a distinguished panel of Russian and American business experts are:

  1. A record of profitable operation and successful adaptation to competitive conditions in Russia.
  2. A record of leadership in improving corporate conduct in Russia as evidenced by at least one of the following factors:
    1. Successful efforts to improve corporate governance, and enhance disclosure and transparency in the conduct of business in Russia.
    2. Demonstrated commitment to transferring skills to local employees and developing local managers.
    3. Leadership in addressing broader social responsibilities such as protecting the environment, promoting public health and assisting those in need.

“There is no doubt that direct foreign investment will continue to play a pivotal role in the development of Russia's economy and business culture. Everywhere in the Russian economy we find the positive effects of foreign investment. International companies have made a major commitment to the Russian market, and this Award is designed to recognize those who have conducted superior business operations while at the same time making Russia a better place in which to live, learn and work. We are immensely proud of our association with this Award, and with the Lauder Institute of the Wharton School.”

The Alfa-Bank and Lauder Institute Award will be presented at a dinner to be held in Moscow in late July.

Founded in 1990, Alfa-Bank is one of the five largest banks in Russia based on assets and shareholder equity. In 2002, the assets of the Alfa-Bank Group, including Alfa-Bank, insurance company AlfaStrakhovanie, subsidiaries and financial companies, grew to $4.1 billion. The net profits of the Alfa-Bank Group were $104 million, shareholder equity was $422 million, and loan portfolios were $2.4 billion.

With more than 100 branches in Russia and fully licensed banking subsidiaries in Ukraine, Kazakhstan and the Netherlands no financial partner is placed better. The Bank's fast growing brokerage business has a FSA authorised arm in London and a NASD registered Broker Dealer in New York.

Inside Russia, Alfa-Bank is at the forefront of the domestic debt capital markets, risk management and M&A business as well at the leading edge of the commercial and retail banking development across the country. The Bank also runs one of Russia's most important fund management companies

Alfa-Bank is rated B by Fitch IBCA, B1 by Moody's and B- by Standard & Poor's.