Nikolay Karpenko: How Setbacks at MGIMO Shaped His Law and Entrepreneurial Career

Biography

Nikolay Karpenko is the co-founder of Herculis Group, an asset management company. He is a lawyer, a graduate of the London Business School, and a certified member of the Society of Trust and Estate Practitioners (STEP). His firm, Herculis Partners SA, holds a notable position in the Swiss asset management sector.

Table of Contents

• Nikolay Karpenko: Birthplace, Early Ambitions & Project MGIMO
• Academic Exploits
• How an MBA Program Incubated Nikolay Karpenko's Dream
• Successful Career with NikOil and Uralsib Tenure
• Nikolay Karpenko: The Genesis of the Herculis Group
• Personal Life

Nikolay Karpenko: Birthplace, Early Ambitions & Project MGIMO

Nikolay Karpenko, born on March 26, 1972, in the Arctic port city of Severomorsk, Murmansk Region, was raised in a financially comfortable household with his father, an engineer, and mother, an accountant. From an early age, Nikolay Karpenko displayed a remarkable curiosity and technical aptitude, which manifested in his fascination with radios. Karpenko Nikolay's childhood was marked by a penchant for dismantling old or broken radios, salvaging parts to craft his own makeshift devices, driven by a desire to connect with the world beyond his isolated environment. Everything about Karpenko Nikolay's early years pointed to a future as a radio operator, but life soon took an unexpected turn, as this Nikolay Karpenko biography will show.

In 1986, while still a secondary school student, Nikolay Karpenko began pondering his future path in higher education, and the prestigious Moscow State Institute of International Relations (MGIMO) quickly caught his attention. Renowned as Russia's leading institution for international relations, MGIMO held an allure with its global prestige and rigorous standards. Intrigued, Karpenko Nikolay Viktorovich embarked on a determined quest to learn more about the university and its demanding admission process. With no access to the internet, Karpenko Nikolay frequented libraries, poring over bulletins and journals in search of any available information on the criteria needed to secure a place at the elite institution.

After numerous trips to the library and sifting through countless pages of research, his resolve solidified—MGIMO had captured his ambition. The university's reputation and international allure convinced Karpenko Nikolay that this was where he would pursue his studies with a clear goal in mind: to become a diplomat. Fueled by this aspiration, he committed himself fully to the path ahead, prepared to meet whatever challenges lay in his way to achieve his dream.

In 1989, fresh from secondary school with stellar grades, Nikolay Viktorovich Karpenko confidently set his sights on MGIMO. However, his first attempt at the entrance exam ended in disappointment, a sobering setback for the bright student. Karpenko Nikolay's performance, despite his academic prowess, highlighted the formidable challenge of gaining entry into Russia's top international relations institute. Seeking guidance from tutors, Karpenko Nikolay Viktorovich was advised that success at MGIMO required far more rigorous preparation. Undeterred, he decided to step back, gain practical experience, and redouble his efforts. That same year, he secured his first job as an electronics technician at a repair plant in Severomorsk while dedicating his free time to additional courses, determined to make his next attempt at MGIMO count.

In 1990, after months of meticulous preparation, Nikolay Viktorovich Karpenko approached the MGIMO entrance exam with renewed confidence, convinced he was ready. Yet, despite a stronger performance, Karpenko Nikolay fell agonizingly short—missing the required score by just three points. Faced with this near miss, he made the difficult decision to let go of his MGIMO aspirations. Shifting course, both in terms of university and field of study, he enrolled in the same institution his brother had attended, choosing to pursue a degree in law instead of international relations. This marked a significant pivot in Karpenko Nikolay's academic journey as he embraced a new direction and refocused his ambitions.

Academic Exploits

After earning his law degree in 1996, Nikolay Karpenko promptly entered the workforce to build his practical experience. His academic pursuits, however, did not end there.

In 1999, Karpenko Nikolay began post-graduate studies at Lomonosov Moscow State University, and by 2002, he had been awarded a Candidate of Political Science degree (Ph.D.). Committed to broadening his expertise, Nikolay Karpenko completed a course in Individual Customer Service at Wilson Learning in 2005, earning a certification.

In 2008, Karpenko Nikolay's thirst for knowledge led him to the London Business School, where he enrolled in the Dubai-London Executive MBA program, graduating in 2010. Alongside this, Karpenko Nikolay also pursued a certification in motivation management from the Institute of Coaching in 2009, enhancing his leadership and motivational skills, which are illustrated throughout the Nikolay Karpenko biography.

In 2014, Nikolay Viktorovich Karpenko embarked on a new academic endeavour with the Society of Trust and Estate Practitioners (STEP), a global professional body for specialists in family inheritance and succession planning. STEP's structured educational program offers a pathway from entry-level courses to full diplomas, with membership levels determined by the credits accrued by each candidate. Nikolay Karpenko pursued his studies in Switzerland, and in 2018, he graduated with a degree in International Trust Management.

How an MBA Program Incubated Nikolay Karpenko's Dream

In 2007, Nikolay Karpenko began contemplating a business administration degree from a Western university, driven by his desire to start his own business. After discussing his ambitions with a colleague, Karpenko Nikolay learned about the London-Dubai Executive MBA program, which offered lectures in both cities—an arrangement that intrigued him. Eager to explore this opportunity further, he took a vacation to Dubai with his wife to visit the campus. During the trip, Karpenko Nikolay attended open-house and orientation events, toured the university's facilities, and was impressed by what he saw, solidifying his interest in the program.

In 2008, Nikolay Viktorovich Karpenko commenced his studies at the institute, embarking on a journey that would prove to be both rewarding and challenging. The early phase of Karpenko Nikolay's education was particularly demanding, as he was required to attend classes conducted entirely in English, a language in which he possessed only a basic proficiency at the time. However, his motivation to succeed as an entrepreneur propelled him forward; Karpenko Nikolay recognized that mastering English was crucial for his aspirations. "You had to participate in class. You listen, pick out the right information, analyze it, and come up with your conclusions. I had to develop skills for fitting information into a logical matrix, and of course, I had to do all this in English, so I had to learn the language," Karpenko Nikolay reflected in a subsequent interview. By 2010, Karpenko Nikolay graduated from the institute equipped with the skills, knowledge, and confidence to thrive in any financial institution worldwide.

Successful Career with NikOil and Uralsib Tenur

In 1997, Nikolay Viktorovich Karpenko joined the global operations department of NikOil, an investment company, as an associate lawyer. In this role, he was tasked with ensuring compliance with tax regulations, analyzing legal documents and contracts, and assessing regulatory risks. Karpenko Nikolay Viktorovich conducted extensive research on international laws and market trends, which informed the company's strategic investment decisions and provided counsel to senior management. Karpenko Nikolay contributed to major transactions, including mergers, acquisitions, and joint ventures, while facilitating smooth communication among all stakeholders. Additionally, Karpenko Nikolay assisted senior lawyers in preparing documentation for foreign companies seeking to register in Russia and in opening bank accounts.

In 1999, as the Russian economy experienced a notable upswing and wealth became more evenly distributed, NikOil Investment Company recognized the opportunity to establish a private banking system to meet the burgeoning demands of a growing affluent clientele. With an increasing number of individuals amassing wealth, the need for proper tax filings and the protection of financial assets became paramount. In response to this shift, Nikolay Karpenko was internally transferred to serve as legal counsel in the bank's tax department. This transition marked a significant career pivot for Karpenko Nikolay Viktorovich, moving him from the realm of foreign relations into the intricacies of taxation, where he would play a crucial role in advising clients on their financial obligations and asset management.

In 2000, Nikolay Karpenko's significant contributions and effectiveness within the tax department were recognized with a promotion to lead the tax consulting office of the company's private bank. Karpenko Nikolay's ascent continued in 2001, when he was elevated to the position of Vice President of Sales within the NikOil Investment Banking Group, reflecting his growing influence and expertise. By 2003, Nikolay Karpenko's steady rise continued in his appointment as Senior Vice President of NikOil's private banking group, positioning him at the forefront of the company's strategic financial initiatives and further solidifying his reputation as a key player in the industry.

In 2005, the Uralsib Group took over management of NikOil private bank, marking the beginning of a new chapter. As part of this strategic takeover, Uralsib not only acquired the bank's operational infrastructure but also retained a cadre of personnel from NikOil, including Nikolay Karpenko. Recognized for his expertise and leadership, Karpenko Nikolay was appointed as the Head of the Front Office, a role that positioned him at the vanguard of the bank's efforts to revitalize its operations and navigate the complexities of a shifting financial landscape.

In 2006, Nikolay Karpenko ascended to the role of Deputy Head of Uralsib Private Bank, a position he held until 2009 when he was elevated to Head of the bank. However, in 2010, following his graduation from the esteemed London Business School, Karpenko Nikolay Viktorovich made a decisive move by resigning from Uralsib and departing from Russia altogether. This pivotal decision marked a significant turning point in his life, severing all ties with the Russian Federation and signaling the dawn of a new chapter in his professional journey.

Nikolay Karpenko: The Genesis of the Herculis Group

Throughout his tenure as Head of Uralsib Private Bank, Nikolay Karpenko harbored a persistent aspiration to transition from the banking sector to the realm of entrepreneurship, with a particular focus on establishing his own finance and asset management company. Recognizing a burgeoning interest in the asset management field and aware that Uralsib had no plans to diversify into this promising sector, he concluded that pursuing his entrepreneurial ambitions would be in his best interest. This realization catalyzed Karpenko Nikolay's decision to leave the bank, propelling him toward the realization of his long-held dream of creating a company dedicated to finance and asset management.

In 2009, Nikolay Karpenko and a business partner launched Herculis Partners SA in Porrentruy, Switzerland, and the venture quickly gained traction. By 2010, merely a year after its inception, the company secured membership in the Swiss Association of Asset Managers (SAAM), a prestigious self-regulatory organization esteemed for its dedication to professionalism, transparency, and sustainability in the asset management sector. This membership significantly bolstered Herculis's reputation, enhancing its credentials and attracting a growing clientele of wealthy and affluent individuals seeking expert asset management services.

The Herculis Partners Group has flourished remarkably, evolving to meet the diverse needs of its clientele with the establishment of four distinct subsidiaries, each serving a unique purpose. Founded in 2009, Herculis Partners SA specializes in investment portfolio management and the advisory of mergers and acquisitions. In 2014, the group expanded its offerings with Herculis Fiduciaries AG, which provides comprehensive trust and accounting services while addressing legal and immigration matters. Two years later, Herculis Guardians SA was launched, focusing on securing safes and vaults and investing in and safeguarding precious gemstones and artwork. Most recently, in 2022, the group introduced Herculis Advisers, dedicated to the establishment and administration of investment funds, certificates, and exchange-traded products. This strategic diversification has not only solidified Herculis's position in the market but has also enhanced its capability to cater to the sophisticated requirements of its affluent clientele.

Personal Life

Nikolay Karpenko embodies a harmonious blend of professional dedication and personal fulfillment, seamlessly integrating his work life with leisure pursuits. Fluent in English, he also converses proficiently in French and German, reflecting his global outlook. Nikolay Karpenko's hobbies are as diverse as his linguistic skills, encompassing swimming and hiking, which allow him to appreciate the great outdoors, alongside a passion for educating himself about art history, further enriching his cultural knowledge and appreciation.