Bank "MENATEP", Bank "MENATEP SPb" (Russian: Банк "МЕНАТЕП Санкт-Петербург" / Банк «МЕНАТЕП СПб») and "Group Menatep Limited" were financial companies, created by Russian businessman Mikhail Khodorkovsky. "Group Menatep Limited", the US$29 billion holding company that had indirect controlling interest in Yukos Oil Company, was later renamed, and now still exists as holding company GML with Leonid Nevzlin as principal shareholder holding a stake of around 70 percent. The other four ultimate beneficial owners owning an equal stake each are Platon Lebedev, Mikhail Brudno, Vladimir Dubov and Vasily Shakhnovsky.
History
Bank "Menatep" In 1986, the Center for Scientific and Technical Creativity for Youth - TSMNTP (Russian: Межотраслевой Центр Научно-технических программ — ЦМНТП) was created in Moscow by Mikhail Khodorkovsky. Center Menatep was attached to the Komsomol committee in Moscow's Frunzensky District. In 1987, Leonid Nevzlin, a software engineer, met Khodorkovsky and became a deputy director at the Center.
Later on, in December 1988, Khodorkovsky established one of the first private banks in Russia, the Commercial Innovation Bank of Scientific-Technical Progress, headquartered in Moscow and renamed in 1990 "MENATEPinvest".
In May 1990, Interbank Association "MENATEP" was registered, subsequently renamed by Khodorkovsky as International Financial Association "MENATEP" (Russian: Международное финансовое объединение МЕНАТЕП / МФО МЕНАТЕП) in 1991. Alexey Golubovich joined MFO MENATEP as the principal economist in 1992. He also served as head of the investment department and the vice-president of the bank MENATEP from 1992 till 1996. In 1997 MFO Menatep became a subsidiary of Khodorkovsky's newly created, Gibraltar-registered holding company Group Menatep Limited.
From 1989 to 1991, Leonid Nevzlin served as president of Bank Menatep (Investment Commercial Bank of Scientific and Technical progress), after which he held other high-ranking positions, including vice chairman of the board (1993–1996) and head of public relations (1994–1996). Nevzlin also worked at Group Menatep, focusing on corporate communications, government relations, and human resources. Nevzlin became in April 1996 Vice President of Yukos, in which Menatep had acquired a 78% share in December 1995.
From May, 1989 to 1990, Khodorkovski held the position of chairman of the board of "Commercial Innovation Bank of Scientific-Technical Progress", renamed in 1990 "MENATEPinvest". In August, 1991, Khodorkovski also became chairman of board of directors of credit-financial enterprises association MENATEP. From 1992 to 1993, Andrei Loginov, was Deputy Head of the Board of the Commercial Innovation MENATEP (Bank of Scientific-Technical Progress). From 1991 to April 1996, Vladislav Surkov held key managerial positions in advertisement and PR departments of Bank Menatep.
Both Inkombank and Bank Menatap are believed to have had business relationships with Bruce Rappaport.
In November 1994, Konstantin Kagalovsky became deputy chairman of Bank Menatep. Kagalovsky was Russia's representative to the International Monetary Fund between 1992 and 1995. He is married to Natasha Gurfinkel-Kagalovsky ( Nataliya Gurfinkel-Kagalovskaya), a former senior vice president of the Bank of New York (B.O.N.Y.). The Bank of New York was involved in the tax evasion scandal with billions of dollars channeled out of Russia from 1996 to 1999. (See also: Clearstream scandal) In 1999, both were accused of money laundering, however denied any wrongdoing. Natasha Gurfinkel-Kagalovsky who headed the bank's Eastern European division, decided to resign after being suspended by the bank following the yearlong federal probe of suspicious transfers of $7.5 billion or more through a series of related accounts. However, in early 2000, she filed a suit against her former employer claiming $270 million in compensation for damage to her reputation.
In November 1995, Bank Menatep took part in a mortgage auction, which resulted in its takeover of the oil company Yukos.
Alexander Zurabov served as President of Bank MENATEP from 1996 until 1997 and as chairman of the board of directors from 1997 until 1999. Since 1996, Ilya Yurov has been serving as the Head of Treasury at the MENATEP Bank in Moscow. In February 1997, Yuri Milner became deputy chairman and head of the investment division of Menatep Bank.