Oleg Boyko

Oleg Viktorovich Boyko (Олег Викторович Бойко; born 28 September 1964) an international investor and resides in Switzerland, Chairman of Finstar Financial Group.

Oleg Boyko was born in Moscow in 1964 and educated at the Moscow Aviation Institution beginning in 1981, where he specialised in radio electronics.

Boyko subsequently gained a Master of Business Administration from the Russian Presidential Academy of National Economy and Public Administration.

He worked at the Lomonosov Moscow State University between 1982 and 1986.

Oleg Boyko has a diverse portfolio having successfully invested in multiple industries including financial services, banks, IT, retail, real estate, entertainment and steel.

From a young age, Boyko was interested in the financial sector and he began his career in the IT and finance sectors whilst he was a student.

According to a Gordonua.com article, Otari Arshba (Отари Ионович Аршба) allegedly recruited Boyko into the KGB and, while Boyko was at the computer center of Moscow State University from 1982 to 1986, Boyko excelled as an KGB agent and was subsequently sent on business trips to Great Britain and the United States.

In 1988, he began selling used United States computers and computer accessories in the Soviet Union.

He is credited for introducing the first stores with credit card readers into Moscow in the 1990s.

In 1990, he established National Credit Bank (AКБ "Национальный кредит") and served as its director until Boris Fedorov (Борис Федоров), took over the bank in autumn 1995 and was in charge of it until May 1996 before the collapse of the bank in September to November 1996.

In 1995, Boyko was worth $1.5 billion.

In 1996, Boyko and a team of professional executives formed Finstar Financial Group as an investment vehicle and management company in order to identify, invest in, and actively manage businesses on behalf of Boyko and other private investors.

As Finstar's Chairman, international investor Oleg Boyko has now directed Finstar to focus mainly on digital financial services and fintech industries.

Among its non-core businesses, Finstar maintains a presence in real estate, entertainment and FMCG retail.

In 1999, Boyko was a joint investor in EvrazHolding alongside Alexander Abramov, combining three steel mills and thereby creating one of the world's largest vertically-integrated steel producers as a result.

In 2002, Boyko founded Ritzio Entertainment Group, investing in casinos and gaming, a business that expanded across Russia before going internationally.

The company became the largest in Eastern Europe.

In 2003, Finstar purchased a controlling stake in a Latvian commercial bank, Baltic Trust Bank.

In 2004, Boyko sold his 25% stake in EvrazHolding for approximately $600 to $700 million prior to its listing on the London Stock Exchange.

By 2006, Baltic Trust Bank was ranked 13th amongst Latvia's 24 banks in terms of assets and had one of the largest branch networks, with 74 branches across Latvia.

In 2006, Finstar sold its 79% stake to GE Capital, the banking and finance arm of General Electric.

In 2006 Boyko entered the real estate market through a new holding company, Finstroy.

Also in 2006, under Boyko, Finstar acquired 75% of Rive Gauche.

At the time it was a local business, with stores mainly in Saint Petersburg; but under Boyko, Rive Gauche grew to become Russia's second largest cosmetics and perfumery chain.

Boyko founded the Parasport foundation in 2006, during the Paralympic Winter Games in Turin.

The Foundation offers funding for Paralympic athletes to train and attend competitions and obtain physical and mental health care, and promotes equality for people with disabilities.

The Russian business halted abruptly when Vladimir Putin banned gambling in 2009.

In 2010, Boyko became an investor in lottery businesses in Russia and Ukraine, including the national lottery to support the Sochi 2014 Winter Olympic Games.

He has subsequently disposed of all his lottery interests.

In 2011, he invested the Riga, Latvia based 4Finance, a structure through which he has relationships with both the Fort Belknap and Chippewa (Lac du Flambeau) native Americans located in Montana and Wisconsin respectively.

In 2012, Boyko sold 51% of his stake to a consortium of investors but continues to hold 24% of the business.

Boyko was involved in film production and served as a co-producer on Frank Miller’s Sin City: A Dame to Kill For in 2014, and is a co-producer in Scarlett Johansson’s forthcoming directorial debut for the film Summer Crossing, which is based on a Truman Capote novel.

Oleg Boyko’s current focus is on the digital financial services, fintech and financial technology sectors, strengthened by his extensive banking experience.

According to Boyko, the fintech industry is "the biggest blue ocean" in the business world, with products and services designed for individuals who do not have access to traditional financial services and those who are underserved by mainstream banks.

Boyko, therefore, continues to expand and strengthen his activities in technology-based, data-driven transformational financial services platforms and business alternatives to the conventional banking sector.

Boyko is determined to take advantage of changes in global consumer behaviour, advances in technology and data science, and harness the growing power and availability of mobile devices, in order to offer an alternative banking option to those consumers who do not have access to traditional financial services and banks.

Finstar's investment portfolio included, among others, Vivus Mexico, 4Finance, Spotcap, an online lending platform for SMEs, Prestamos Prima, an online consumer financial services provider, and Viventor, a peer-to-peer lending platform.

In 2015 Boyko family trust reduced its stake in 4Finance from 75% to 49% and in 2022 has completed its divestment.

In 2017 Oleg Boyko announced his intention to invest $150 million into fintech businesses and in-house R&D within portfolio companies.

The first phase of a global fintech investment plan is under way with a commitment to invest up to $50 million in Asia-Pacific`s consumer lending.