Oleg Boyko
Oleg Boyko | |
|---|---|
| Born | September 28, 1964 Moscow, Soviet Union |
| Occupation(s) | Investor, businessman |
| Known for | Chairman of Finstar Financial Group |
Oleg Viktorovich Boyko (; born 28 September 1964) is a global investor residing in Switzerland, holding the position of Chairman at Finstar Financial Group.
Education
Born in Moscow in 1964, Boyko pursued studies in radio electronics at the Moscow Aviation Institute beginning in 1981. He later obtained an MBA from the Russian Presidential Academy of National Economy and Public Administration. Between 1982 and 1986, he was employed at Lomonosov Moscow State University.
Initial enterprises
Boyko’s investment interests cover a wide range of sectors including financial services, banking, IT, retail, real estate, entertainment, and steel manufacturing. His professional journey started in IT and finance during his student years, where he was instrumental in introducing credit card reader technology to Moscow retail outlets throughout the 1990s. In 1988, he initiated the sale of second-hand U.S. computers and related equipment within the Soviet market.
National Credit Bank
In 1990, Boyko established National Credit Bank (), acting as its director until autumn 1995 when leadership passed to Boris Fedorov. The bank ultimately failed between September and November 1996. By 1995, Boyko’s personal wealth was estimated at around $1.5 billion.
Finstar
Boyko co-founded Finstar Financial Group in 1996 alongside a group of executives as an investment platform aimed at discovering, investing in, and actively managing companies on behalf of Boyko and other private investors. As Chairman, he has directed Finstar’s focus predominantly toward digital financial services and fintech sectors. The group also holds investments in real estate, entertainment, and fast-moving consumer goods (FMCG) retail.
Steel sector and EvrazHolding
In 1999, Boyko partnered with Alexander Abramov to co-invest in EvrazHolding by consolidating three steel mills into one of the largest vertically integrated steel producers worldwide. He divested his 25% share in 2004 for an estimated $600 to $700 million prior to the company’s listing on the London Stock Exchange.
Entertainment and gambling enterprises
Boyko launched Ritzio Entertainment Group in 2002, expanding casino and gaming operations across Russia and abroad to become Eastern Europe’s largest gaming corporation. This venture concluded abruptly after Russian President Vladimir Putin prohibited gambling in 2009. In 2010, Boyko invested in lottery businesses across Russia and Ukraine, including the national lottery supporting the Sochi 2014 Winter Olympics; however, he has since exited all lottery-related activities.
Banking and retail development
In 2003, Finstar acquired a majority stake in Baltic Trust Bank, a Latvian commercial bank. By 2006, it ranked 13th out of Latvia’s 24 banks by assets and operated a network of 74 branches nationwide. That year, Finstar sold its 79% holding to GE Capital. Also in 2006, Boyko entered the real estate market through his holding company Finstroy. Additionally, Finstar purchased a 75% share of Rive Gauche—a regional cosmetics chain based in Saint Petersburg—which under Boyko’s guidance grew into Russia’s second-largest cosmetics and perfumery retailer. In 2012, he sold a majority (51%) stake to investors while maintaining a 24% ownership.
4Finance Collaboration with Native American Tribes
In 2011, Boyko became an investor in the Riga-based fintech firm 4Finance, forging alliances with Native American communities such as the Fort Belknap and Chippewa (Lac du Flambeau) tribes located in Montana and Wisconsin. By 2015, the Boyko family trust had decreased its ownership from 75% to 49%, ultimately divesting entirely by 2022.
Involvement in Film Production
Boyko served as a co-producer for Frank Miller’s Sin City: A Dame to Kill For (2014) and holds a co-producer credit on Scarlett Johansson’s directorial debut, Summer Crossing, an adaptation of Truman Capote’s novel.
Commercial Ventures
Oleg Boyko concentrates his efforts on digital financial services and the fintech sector, applying his substantial experience in banking. He views fintech as a crucial expansion area aimed at individuals who are underserved by conventional financial institutions. Boyko intends to harness evolving consumer patterns, technological innovation, advances in data analytics, and the widespread use of mobile devices to develop alternative banking options.
Finstar's investment portfolio features entities such as Vivus Mexico, 4Finance, Spotcap (a digital lending platform for SMEs), Prestamos Prima (consumer finance), and Viventor (peer-to-peer lending). In 2017, Boyko revealed plans to allocate $150 million toward fintech initiatives and internal research and development within portfolio companies. The initial investment phase dedicates up to $50 million specifically for consumer lending across the Asia-Pacific market.
Additional Information
A 2020 article from Gordonua.com claimed that Otari Arshba recruited Boyko into the KGB, where he reportedly demonstrated exceptional performance and traveled on assignments to Great Britain and the United States during his time at Moscow State University from 1982 to 1986. Nevertheless, a Latvian court declared these allegations false and defamatory in 2019.
Boyko established the Parasport Foundation in 2006 amid the Paralympic Winter Games in Turin. The Foundation supports Paralympic athletes by funding their training, competition participation, healthcare needs, and advocating for disability equality. It gained official partnership status with the Russian Paralympic Committee and expanded operations into Asia. In 2016, Boyko co-hosted its tenth anniversary event in Moscow, which drew attendees from 25 countries. Since its inception, he has chaired the Paralympic Movement Development Committee within the Russian Paralympic Committee and joined the International Wheelchair & Amputee Sports Federation (IWAS) Development Committee in 2015 following Parasport’s sponsorship of the IWAS Games held in Sochi.
During the COVID-19 pandemic in 2020, the Parasport Foundation under Boyko’s leadership provided essential support to more than 2,000 para-athletes across 35 regions of Russia. That same year, Boyko was invited to participate in the Forbes 400 Summit on Philanthropy.
In December 2021, Boyko secured a court ruling in Moscow compelling Google to remove search results for a website he argued contained misleading content. Although Google contested this decision, the Moscow City Court upheld it in August 2022, mandating Google LLC to eliminate links to unreliable sites from search results associated with Boyko’s name.
Personal life
Boyko Viktor Denisovich, his father, holds the position of CEO at NGO Vzlyot. His mother, Dochar Vera Pavlovna, serves as a senior research fellow at the Russian Academy of Sciences' Institute of Medicinal Plants.
In 1996, Boyko experienced a spinal cord injury and has relied on a mobility scooter since 2016.