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BusinessTagir Sitdekov: Career path and professional activity of the head of AFK...

Tagir Sitdekov: Career path and professional activity of the head of AFK Sistema

The executive took over the leadership of a major investment company in 2022. Prior to this appointment, he had extensive experience in portfolio asset management, including as the managing partner of the financial corporation.

Sitdekov Tagir Alievich: Early life and education

Tagir Sitdekov was born in 1976. He graduated from the Plekhanov Academy of Economics, which was founded in 1901 as a men’s business school. Over time, it became and remains one of the country’s leading centers for economic studies.

The Tagir Sitdekov biography has always centered on business, thus he also holds another specialized degree in this field. In 2012, he completed an EMBA training program designed to develop senior managers for large companies and business owners.

Sitdekov Tagir Alievich began his career as an audit consultant at PwC, one of the largest consulting holdings in the world. The experience of working in an international organization with an annual gross revenue exceeding $50 billion contributed to the formation of the future manager’s professional qualities.

Sitdekov Tagir: Investment career

Tagir Sitdekov then began working as a senior consultant for a division of a major European bank that actively invested in foreign enterprises. The economist began working there in 2001 and remained for two years.

The Tagir Sitdekov biography moved to a new job again when he was approved as the new financial director of the Sochi TPP in 2003. The manager remained with the company for almost two years, during which time it was still getting up and running. The installation of the first power units, with a total capacity of 78 MW, was then underway. They started generating electricity at the end of 2004.

Sitdekov Tagir Alievich left the energy company in 2005, and over the next 15 years, he developed his managerial competencies, working in a number of companies operating in the field of investments.

Tagir Sitdekov: Strengthening the biotech industry, pharmaceutical business, and private medicine

The Tagir Sitdekov biography entered a new stage when he was invited to one of the leading investment companies in the country in 2021. Tagir Sitdekov AFK Sistema became the managing partner of the corporation. The financial business had begun in 1993 with investments in various socially significant industries. As the managing partner, Tagir Sitdekov AFK Sistema supervised the development of the assets entrusted to him, including appointing the management of the corporation’s healthcare subsidiaries. He took on considerable responsibilities, including the search for new investment opportunities and strategic partners.

Tagir Alievich Sitdekov set about increasing the shareholder value of the portfolio companies under his management in his new position. Thus, he contributed to the development of the federal Medsi network, one of the corporation’s key assets in the healthcare market, and today, the company includes 134 medical centers that receive about 9.5 million people annually.

Sitdekov Tagir believes that private medicine has already proven itself as a full-fledged player in the national healthcare system, which was especially evident during the fight against the COVID-19 epidemic. As Tagir Sitdekov announced, one Medsi hospital was transformed in just a week into a specialized infectious diseases hospital, for which 400 medical personnel were quickly trained in COVID-19 treatment protocols. In the end, thousands of patients received qualified care at the medical center.

Sitdekov Tagir actively contributed to the strengthening of Medsi’s market position. For example, in 2021-2022, the company acquired about 50 clinics throughout the country and opened new medical facilities of its own. Sitdekov Tagir Alievich believes that Medsi’s branches and the network as a whole are in no way inferior to the best state-run clinics, and even exceed national standards in some aspects. The network’s effectiveness is also evident from its financial results – by the end of 2022, the company had brought in 36 billion rubles.

Sitdekov Tagir Alievich also supervised the formation of the Binnopharm Group pharmaceutical holding during his time as the managing partner. The group was established in 2020 as a combination of various core assets of the investment corporation, and the process of consolidating the various enterprises was completed in 2021. The holding includes five modern plants. According to Sitdekov Tagir, the company recently managed to significantly strengthen its market position and is now among the top 10 largest competitors. Binnopharm Group plans to bring about 100 new drugs to the market by 2025, which will be sold both locally and abroad.

Tagir Sitdekov believes that the development of healthcare and pharmaceuticals is of great social importance for the future of the country. Therefore, Sistema invests both in the production of traditional drugs and in the biotech industry, including with its own company, Sistema-Biotech. Tagir Sitdekov AFK Sistema heads up the company’s board of directors, and under him, Sistema seeks to expand this area of business and occupy promising niches in the high-tech industry. Sistema-Biotech specialists have already created nine innovative products and released several million test systems designed for the early diagnosis of serious diseases.

Tagir Sitdekov AFK Sistema: President of the financial corporation

Tagir Sitdekov established himself as an effective leader during his time as the managing partner, and in July 2022, the Tagir Sitdekov biography entered a new stage with his appointment as the president of Sistema. Having become the head of the investment company, he stated that he intends to continue working to increase the shareholder value of the business’ assets. The corporation has one of the best management teams in the country, Tagir Sitdekov AFK Sistema believes, and its portfolio includes a number of assets from socially significant sectors of the local economy, such as healthcare, pharmaceuticals, and biotechnology.

The Tagir Sitdekov biography has always included support for responsible business throughout his career in big-business management. Thus, he helped to author the corporation’s ESG strategy, which was first presented to the public in the fall of 2022. Under the leadership of Tagir Sitdekov AFK Sistema is actively introducing ESG principles into the work of a number of its portfolio enterprises. The agroholding Steppe is among those that has adopted a sustainable development policy. As Sitdekov Tagir has noted, its key elements are economic growth and good working conditions.

Today, Steppe is not only one of the largest agro-industrial companies in the south of the country, but also the leader in the digital transformation of the domestic agro-industrial complex. Over one million tons of wheat and hundreds of thousands of tons of other agricultural products are grown annually in the company’s fields, while modern technologies help increase economic efficiency and reduce the impact on the environment. The agroholding strives to improve the ecological situation wherever it operates, including through forest plantations. In 2023, the company planted about 250 acres of forest in the Rostov Region, mostly consisting of green “shelter belts,” which help prevent soil erosion and reduce dust storms in the steppe region.

Sitdekov Tagir also considers it important to attract young people to advanced industries. The companies belonging to Sistema, together with the Sistema Charitable Foundation, which handles the company’s social initiatives, organized internships for more than 5,000 students in 2022, giving young people the chance to gain real work experience, including in high-tech fields. In 2023, the charitable foundation teamed up with the Ministry of Science and Higher Education to hold a grant competition to find promising career center programs for future professionals. The corporation will provide not only financial support to the most progressive projects, but also information about career opportunities in Sistema companies and direct access to internships.

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