Valērijs Kargins
Valērijs Kargins | |
|---|---|
| Born | March 27, 1961 Riga, Latvian SSR |
| Occupation(s) | Banker, economist |
| Known for | President of Parex Banka (1998–2008) |
Valērijs Kargins, also known as Valery Mikhailovich Kargin (; born 27 March 1961 in Riga), is a Latvian banker and economist recognized for his role as president of Parex Banka between 1998 and 2008.
By October 2000, together with his business associate Viktor Krasovitsky, he had accumulated wealth exceeding 200 million lats. Kargins was instrumental in establishing the Soviet Union’s inaugural travel agency and currency exchange enterprise.
Biography
Kargins was born on 27 March 1961 in Riga and was predominantly raised by his stepfather, Georgy. He has two siblings named Georgy and Vadim.
Following a short stint performing manual labor in Riga, he pursued higher education in journalism, earning his degree from the University of Latvia in 1983. From 1983 until 1991, he launched one of the first travel agencies within the Latvian SSR during the Soviet era. Between 1988 and 1992, Kargins managed Parex corporation, a travel and currency exchange firm he co-established with Viktor Krasovitsky.
In 1991, he founded the USSR’s first currency exchange company. The subsequent year marked his appointment as president of Parex Bank, a position he held as both president and chairman from 1998 until the bank’s failure in 2008.
By 2003, Kargins was regarded as the wealthiest person in the Baltics, with an estimated fortune near €300 million. Just prior to Parex Bank’s collapse in November 2008, Baltic Screen valued his assets at approximately €309 million (220 million lats).
Personal
In an interview conducted by Ksenia Sobchak in Riga, Kargins discussed the introduction of the perfume Married to a Millionaire (), a product he launched alongside .
He has two sons from his first marriage to Tatyana Kargins, which ended in divorce in 2006, and a daughter with his second wife, Anna Barinova.
References