James Cook (American banker)
James Cook | |
|---|---|
| Born | Richmond, Virginia, United States |
| Alma mater | Hampden–Sydney College; Virginia Tech Pamplin College of Business |
| Occupation(s) | Financier, banker, investor |
| Known for | Pioneer of mortgage lending in Russia; managing partner at The U.S. Russia Investment Fund and Delta Capital Management; chairman and CEO of GE Capital's Russian operations; co-founder of Aurora Russia Limited |
James Cook is a financier, banker, and investor from the United States. He held the position of managing partner at both The U.S. Russia Investment Fund (TUSRIF) and Delta Capital Management, in addition to serving as chairman and CEO of GE Capital's Russian operations. Cook co-established Aurora Russia Limited, a private equity firm listed on AIM that focused on investments within Russia. He was instrumental in the modernization of Russia's financial infrastructure following the 1998 Russian financial crisis, pioneering the nation's inaugural mortgage bank and earning recognition as the "father of mortgage lending" in Russia. Furthermore, he was responsible for launching Russia’s first revolving credit card and founding a leasing company with nationwide reach. More recently, Cook played a notable role as a fundraiser for Hillary Clinton during her 2016 presidential bid.
Early life
Raised in Richmond, Virginia, James Cook completed his undergraduate studies at Hampden–Sydney College before obtaining a Bachelor of Science degree in finance from the Virginia Tech Pamplin College of Business. He also attended the Mortgage Bankers Association's School of Mortgage Banking to further his expertise.
Career
Cook’s professional journey began in marketing at the Virginia Tech Credit Union while he was still a student. Subsequently, he worked as a loan officer at Investors Savings Bank located in Richmond. By 1988, he advanced to a compliance officer role at the Virginia Housing Development Authority.
In 1994, Cook took on the role of deputy director at the Urban Institute in Russia, where he provided training to Russian bankers on mortgage lending practices. He joined Delta Capital Management in 1996 and ascended to senior vice president by 2000. Concurrently, from 1999 onward, he served as senior vice president at The U.S. Russia Investment Fund (TUSRIF), which was overseen by Delta Capital.
At Delta Capital in 1997, Cook launched his inaugural mortgage product. Given that loans were largely unfamiliar to most Russians at that time, he and his team employed former KGB agents to perform thorough background screenings.
In 2004, Cook was named chairman and CEO of GE Consumer Finance, General Electric’s subsidiary operating within Russia. His governance experience includes board memberships at several institutions such as OSG, Unistream, Fora Bank, Kreditmart, DeltaBank, DeltaCredit, Europlan, Flexinvest Bank, and ICICI Bank in Russia.
The year 2006 saw Cook co-founding Aurora Russia Limited, a private equity entity that successfully raised $150 million and remained listed on the Alternative Investment Market (AIM) until 2016. This fund facilitated the creation of three enterprises including KreditMart, which specialized in mortgage and consumer lending.
Cook considers the 1998 financial crisis a critical turning point for Russian banks as it compelled them to broaden their asset portfolios. His contributions have led to him being acknowledged as the pioneer of mortgage lending within Russia.
Political activity
On October 4, 2015, Cook organized a fundraising event for Hillary Clinton’s presidential campaign at his residence located in Paris.