31 Jan 2023 11:22

Goldman sells some assets in Russia to former execs - media

MOSCOW. Jan 31 (Interfax) - Goldman Sachs Group has transferred a number of assets in Russia to former senior executives of its Russian business, the Financial Times reported, citing informed sources.

The U.S. bank's stakes in HeadHunter and Cian were sold to Maxim Klimov and Anton Shreider. They previously served as managing directors of the bank in Russia, but left the company last July.

The terms of the transaction were not disclosed, but a source said the stakes were sold at a discount. The transfer of the assets was approved last year.

Cian, Russia's leading online real estate marketplace posted a net profit of 380 million rubles in the third quarter of 2022, compared to a loss of 299 million rubles a year earlier.

Recruitment service HeadHunter, which has about 28.5 million active users, saw its net profit fall 20% year-on-year to 1.4 billion rubles.

Shreider and representatives of Headhunter and Cian did not respond to questions, while Klimov declined to comment, the paper said.

Goldman Sachs announced last March that it was winding down its business in Russia in line with regulatory and license requirements. It was the first major Wall Street bank to announce plans to stop operating in Russia.

Goldman's loan portfolio in Russia shrank to $205 million at the end of the third quarter of 2022 from $650 million at the end of 2021.