Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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JSFC Sistema (SSA)

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Wednesday 13 May, 2009

JSFC Sistema

Sistema Appoints Alexander Korsik as Head of Oi...

Sistema Appoints Alexander Korsik as Head of Oil and Energy Business Unit

JSFC Sistema


Sistema (LSE:SSA), the largest diversified public financial corporation in Russia and the CIS, which manages large companies operating in different industries, today announced the appointment of Alexander Korsik as Head of Oil and Energy business unit, established in April 2009 by the decision of the Board of Directors. The Board of Directors of Sistema expects to confirm the appointment of Mr. Korsik at its next meeting. Mr. Korsik previously held the position of Chairman of the Board of Directors at RussNeft.

In 2008, Sistema established a new organizational structure and formed three business units in addition to functional divisions, “Telecommunications Assets”, “Consumer Assets” and “High Technologies and Industry”, responsible for the strategic development of the Group’s assets. Following the acquisition of a controlling stake in Bashkir Oil and Energy Group in March 2009, Sistema established a new business unit, Oil and Energy Assets, which will integrate the Group’s interests in Bashkir oil-processing and oil-extracting companies into a single corporate structure.

Alexander Korsik, as Head of Oil and Energy business unit and Senior Vice President of Sistema, will be responsible for the development and implementation of Sistema’s development strategy in Bashkir Oil and Energy Group and its subsidiaries, including Bashkirenergo. In particular, Alexander will focus on the development of the unit’s competency in oil and gas sector, consolidation of management efforts and creation of a unified centre responsible for strategic and organizational development of the portfolio’s assets, including planning, oversight and control over their activities.

Leonid Melamed, President and Chief Executive Officer of Sistema, commented: “Alexander Korsik is a well regarded professional in the oil and energy sectors who has firsthand knowledge and experience of managing oil and gas companies. We are confident that under his leadership the new business unit will achieve its full potential in the development of Bashkir oil assets and contribute to the creation of additional shareholder value.”

Alexander Korsik was born in 1956. From 2007 to January 2009, Mr. Korsik was Chairman of the Board of Directors at RussNeft. From 2006 to 2007, he served as President at Itera Group, one of the largest independent producers and traders of natural gas operating in the CIS and the Baltic states. In 2006, Mr. Korsik worked as Deputy Chairman of the Board of Directors at Renaissance Capital, a leading investment group focused on the emerging markets. From 1999 to 2005, he served as First Vice President at Sibneft, renamed Gazprom Neft, one of the largest oil and gas producing companies in Russia. From 1997 to 1999, Mr. Korsik was Head of Strategy at Sibneft. From 1995 to 1997, he served as Deputy General Director of CJSC KomiTEK-Moscow and Member of the Board of Directors of JSC KomiTEK Oil Company. From 1979 to 1995, Mr. Korsik worked in a number of government positions. Alexander Korsik graduated with honors from the Bauman Higher Technical School.


For further information, please visit or contact:

Sistema Investor Relations       Shared Value Limited
Pavel Kim Larisa Kogut-Millings
Tel: +7 495 692 22 88 Tel: +44 (0) 20 7321 5010

[email protected]

[email protected]


Sistema is the largest public diversified financial corporation in Russia and the CIS, which manages companies serving over 100 million customers in the sectors of telecommunications, high-tech, oil and energy, radio and aerospace, banking, real estate, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 16.7 billion for the full year of 2008, and total assets of US$ 29.2 billion as at December 31, 2008. Sistema’s shares are listed under the symbol “SSA” on the London Stock Exchange, under the symbol “AFKS” on the Russian Trading System (RTS), under the symbol “AFKC” on the Moscow Interbank Currency Exchange (MICEX), and under the symbol “SIST” on the Moscow Stock Exchange (MSE).

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.

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