According to its Articles of Association Rating-Agentur Expert RA GmbH shall have an advisory board and at least one third, but no less than two, of the members of the advisory board shall be independent.

The advisory board shall ensure that the company’s credit rating activities are independent, including from all political and economic influences or constraints, that conflicts of interest are properly identified, managed and disclosed, and that the company complies the remaining requirements of EU CRA Regulations.

In addition to the overall responsibility of the board, the independent members of the advisory board shall have the specific task of monitoring:

  • The development of the credit rating policy and of the methodologies used by the agency in its credit rating activities though participation and voting on methodological committee meetings;
  • The effectiveness of the internal quality control system;
  • The effectiveness of measures and procedures instituted to ensure that any conflicts of interest are identified, eliminated or managed and disclosed;
  • The compliance and governance processes.

The composition of the Board starting from 13.05.2019

Dmitry Grishankov

Representative from the shareholders side
Member of the advisory board

Dmitry Grishankov is head of the International group of rating agencies RAEX that is represented in Russia, Germany, Hong Kong, Kazakhstan and Belorussia. In the early 1990’s he was actively involved in the Russian media, first working for “Komersant” and later participating in the foundation of “Expert” magazine. Since 1999 he is the head of “Expert RA” rating agency, the leading rating agency in Russian and CIS markets. Dmitry is the author of more than three hundreds of publications. He has received several awards and certificates from public and professional associations. Dmitry is also a member of some expert councils of the Russian Central Bank and in May 2014 he was elected as a member of the IREG Observatory on Academic Ranking and Excellence executive committee.

Svetlana Grishankova

Managing director of Rating-Agentur Expert RA
Chairman of the advisory board

Svetlana Grishankova is the Managing director of Rating-Agentur Expert RA GmbH since 2013. She holds BSc degrees from the Higher School of Economics in Moscow and University of London, as well as MSc degree in Finance and Economics from the London School of Economics. Svetlana has been working in private equity in London and following that held leading positions in a number of investment projects in fields of construction, real estate, retail and IT with wide geographic scope (UK, Switzerland, Germany, Russia). She was managing the rating activity in Europe of RAEX (Moscow) and then fully involved in the foundation of Rating-Agentur Expert RA GmbH in Frankfurt being responsible for the strategy and development of the agency, including its process of obtaining ESMA registration.

Matthias Schepp

Independent member of the advisory board

Matthias Schepp holds a position of the Chairman of the German-Russian Chamber of Foreign Trade (AHK) since April 2016. Matthias studied history, politics and philosophy at the Johannes-Gutenberg University in Mainz and at the Université de la Bourgogne in Dijon, and later attended the Hamburg School of Journalism. Mr. Schepp started his professional career in the Catholic News Agency in Wiesbaden. He then worked for the Moscow office of the "Stern" from 1992 to 1998, before taking over the management position in the "Stern" Beijing office for six years. From 2004-2005 he studied at the University of Michigan as a fellow Knight Wallace Fellow and at the Ross School of Business. Later he continued his journalistic career as a correspondent for Stern's foreign department in Hamburg. Mr. Schepp worked for many years as a director of the "Spiegel" office in Moscow.

Victor Markov

Independent member of the advisory board

Victor Markov owns company ITC AGROPROMSTROY Ltd. which specializes at real estate investments and asset management. Since 2017 Victor has been holding the position of a certified pre-seed stage startups growth expert in the Internet Initiatives Development Fund. Mr. Markov is currently a member of Advisory Council in the Federation Council of the Federal Assembly of the Russian Federation. From 2009 to 2013 Victor worked in leading Russian oil companies - Rosneft Oil Company and Gazprom Neft PJSC. Mr. Markov graduated from the Moscow State Institute of International Relations and holds a PhD degree in Economics.

The composition of the Board from 01.12.2018 till 13.05.2019

Dmitry Grishankov

Representative from the shareholders side
Member of the advisory board

Dmitry Grishankov is head of the International group of rating agencies RAEX that is represented in Russia, Germany, Hong Kong, Kazakhstan and Belorussia. In the early 1990’s he was actively involved in the Russian media, first working for “Komersant” and later participating in the foundation of “Expert” magazine. Since 1999 he is the head of “Expert RA” rating agency, the leading rating agency in Russian and CIS markets. Dmitry is the author of more than three hundreds of publications. He has received several awards and certificates from public and professional associations. Dmitry is also a member of some expert councils of the Russian Central Bank and in May 2014 he was elected as a member of the IREG Observatory on Academic Ranking and Excellence executive committee.

Svetlana Grishankova

Managing director of Rating-Agentur Expert RA
Chairman of the advisory board

Svetlana Grishankova is the Managing director of Rating-Agentur Expert RA GmbH since 2013. She holds BSc degrees from the Higher School of Economics in Moscow and University of London, as well as MSc degree in Finance and Economics from the London School of Economics. Svetlana has been working in private equity in London and following that held leading positions in a number of investment projects in fields of construction, real estate, retail and IT with wide geographic scope (UK, Switzerland, Germany, Russia). She was managing the rating activity in Europe of RAEX (Moscow) and then fully involved in the foundation of Rating-Agentur Expert RA GmbH in Frankfurt being responsible for the strategy and development of the agency, including its process of obtaining ESMA registration.

Matthias Schepp

Independent member of the advisory board

Matthias Schepp holds a position of the Chairman of the German-Russian Chamber of Foreign Trade (AHK) since April 2016. Matthias studied history, politics and philosophy at the Johannes-Gutenberg University in Mainz and at the Université de la Bourgogne in Dijon, and later attended the Hamburg School of Journalism. Mr. Schepp started his professional career in the Catholic News Agency in Wiesbaden. He then worked for the Moscow office of the "Stern" from 1992 to 1998, before taking over the management position in the "Stern" Beijing office for six years. From 2004-2005 he studied at the University of Michigan as a fellow Knight Wallace Fellow and at the Ross School of Business. Later he continued his journalistic career as a correspondent for Stern's foreign department in Hamburg. Mr. Schepp worked for many years as a director of the "Spiegel" office in Moscow.

Evgeny Maltsev

Independent member of the advisory board

Evgeny Maltsev has been working for RAEX Group for over 18 years. Currently he is holding the position of General Director in consulting and analytical division of the international group RAEX, which is engaged in major consulting projects with the Ministry of Finance of the Russian Federation and the World Bank. For many years Evgeny has been working in the area of developing and managing information technology systems. He holds a bachelor degree of Engineer-mathematician from Moscow State Aviation Institute and attended a number of professional trainings in the areas of corporate management, strategic management, management and financial accounting (RAS, IFRS), quality management system. Mr. Maltsev is a member of the Russian Federation national register of professional corporate directors.

The composition of the Board starting from 01.12.2015 till 01.12.2018

Dmitry Grishankov

Representative from the shareholders side
Member of the advisory board

Dmitry Grishankov is head of the International group of rating agencies RAEX that is represented in Russia, Germany, Hong Kong, Kazakhstan and Belorussia. In the early 1990’s he was actively involved in the Russian media, first working for “Komersant” and later participating in the foundation of “Expert” magazine. Since 1999 he is the head of “Expert RA” rating agency, the leading rating agency in Russian and CIS markets. Dmitry is the author of more than three hundreds of publications. He has received several awards and certificates from public and professional associations. Dmitry is also a member of some expert councils of the Russian Central Bank and in May 2014 he was elected as a member of the IREG Observatory on Academic Ranking and Excellence executive committee.

Svetlana Grishankova

Managing director of Rating-Agentur Expert RA
Chairman of the advisory board

Svetlana Grishankova is the Managing director of Rating-Agentur Expert RA GmbH since 2013. She holds BSc degrees from the Higher School of Economics in Moscow and University of London, as well as MSc degree in Finance and Economics from the London School of Economics. Svetlana has been working in private equity in London and following that held leading positions in a number of investment projects in fields of construction, real estate, retail and IT with wide geographic scope (UK, Switzerland, Germany, Russia). She was managing the rating activity in Europe of RAEX (Moscow) and then fully involved in the foundation of Rating-Agentur Expert RA GmbH in Frankfurt being responsible for the strategy and development of the agency, including its process of obtaining ESMA registration.

Jacqueline Curzon

Internal control officer
Independent member of the advisory board from 01.12.2015 till 01.12.2018

Jacqueline Curzon serves as internal control officer and during the period from 01.12.2015 till 01.12.2018 was an independent member of the advisory board at the agency. She holds an LLB in Private International Law from Kings College UoL, an LLM from the Université de Pathéon-Sorbonnes, an MBA in Finance from the Wharton School and was the President Elect of the Board of the Swiss CFA society during 2012-2013. After working in various locations for the World Bank Group, Price Waterhouse and other influential international organizations she founded her own consultancy company in Switzerland. Jacqueline has an extensive career in the public and private sector world-wide and currently is an executive and independent non-executive member of the board of several leading Swiss and non-Swiss companies.

Alexander Karminsky

Independent member of the advisory board from 01.12.2015 till 01.12.2018

Alexander Karminsky is currently a professor at the Higher School of Economics and the Moscow State Bauman Technical University. He has doctor degrees in Economics and National Economy Management, as well as in Computer Science, Technology and Management. During his professional career he wrote and published a large number of influential academic papers and books in the areas of banking, credit ratings, computer modelling, controlling and information of business. Apart from his academic career, Alexander participated in a number of research projects for largest companies in the private Russian sector. Since 2001 Mr Karminsky is a Member of the Russian Academy of natural science.

Carsten Sprenger

Review Function Officer

Carsten Sprenger is a Finance professor and the Head of the International Laboratory in Financial Economics at the Higher School of Economics (HSE) in Moscow. He has a vast teaching experience in the field of economics, corporate finance and credit risk at the top Russian and European universities. After studying Economics at Humboldt University, he obtained a PhD degree in Economics at Pompeu Fabra University. Carsten is the author of numerous publications and working papers in the areas of corporate finance, corporate governance and privatization. He participates regularly as a speaker or co-organizer in conferences and seminars covering these topics in Russia, Europe and USA. Carsten is a member of the American Finance Association and received a large number of grants, fellowships and awards from renowned academic and non-academic institutions, including HSE and the Robert Bosch Foundation.

Jacqueline Curzon

Internal control officer

Jacqueline Curzon serves as internal control officer and during the period from 01.12.2015 till 01.12.2018 was an independent member of the advisory board at the agency. She holds an LLB in Private International Law from Kings College UoL, an LLM from the Université de Pathéon-Sorbonnes, an MBA in Finance from the Wharton School and was the President Elect of the Board of the Swiss CFA society during 2012-2013. After working in various locations for the World Bank Group, Price Waterhouse and other influential international organizations she founded her own consultancy company in Switzerland. Jacqueline has an extensive career in the public and private sector world-wide and currently is an executive and independent non-executive member of the board of several leading Swiss and non-Swiss companies.