Tagir Sitdekov biography, career path, and top-manager projects

Tagir Sitdekov is a manager with a classical education in economics. He has worked his way up from consulting at an international company to heading of one of the largest investment corporations in the country.

Tagir Sitdekov biography before his career

Tagir Sitdekov was born in 1976. After finishing high school, he entered the distinguished Plekhanov Academy, which has been training economist and managers for more than a hundred years. Sitdekov graduated in 2001. His alma mater was later granted university status.

Sitdekov Tagir also studied in Chicago where he earned a degree from one of the oldest universities in the world offering a concentration in economics. In 2012, he graduated with an Executive MBA from the Booth School of Business. The history of the university is closely linked to the development of the US economy. It was founded in 1898 and today it can boast more graduates who have won the Nobel Prize in Economics than any other university in the world.

Tagir Sitdekov: Becoming a professional

As a student, the future manager acquired basic business knowledge and an understanding of market mechanisms. The Tagir Sitdekov biography is bound up with the economic sector, and while still in school, he took a position at the international company PricewaterhouseCoopers (PwC), one of the world’s leading audit and consulting firms. Tagir Sitdekov spent two years there working with mining and energy companies as an audit consultant. As of 2021, the organization’s worldwide staff numbered about 295,000 people, with an annual revenue of $45 billion.

After earning his degree, the young economist changed jobs. In 2001, Sitdekov Tagir Alievich became a manager at the Creditanstalt investment bank. Founded more than 200 years ago, the credit institution long played a significant role in the Austrian economy, providing assistance to third-party investors and investing in various assets itself.

In 2003, Sitdekov Tagir Alievich became the financial director of the Sochi Thermal Power Plant. During his two years in that position, the company commissioned two power units with a total capacity of 78 MW – a costly operation that was made possible by a large-scale investment program. The manager himself was among those who participated in the program. Today, the Sochi Thermal Power Plant is one of the most efficient power plants in the country.

Beginning in 2005, the Tagir Sitdekov biography was connected with investment management for 15 years.

In 2021, Sitdekov Tagir was offered a position at the financial corporation Sistema, and so the top manager became a managing partner, entrusted to oversee a wide range of the company’s activities, including its medical, pharmaceutical, and biotech assets. Last year, the board of directors approved the Tagir Sitdekov biography as the corporation’s new president. By that time, the manager’s resume already included several leadership positions, and his 15-year investment experience and positive results as a managing partner played a role in his appointment.

Currently, Tagir Sitdekov is responsible for increasing the investment attractiveness of portfolio assets. He also oversees operational management and the implementation of the company’s investment strategy.

Tagir Sitdekov: Medsi expands its sphere of influence

Before his appointment as president of AFK Sistema Tagir Sitdekov oversaw the development of a key medical asset – the Medsi clinic network. Launched in the midst of the pandemic, the medical holding proved its mettle, successfully passing the COVID-19 test of strength. According to Sitdekov Tagir Alievich, the pandemic, with its particular conditions, provided a unique experience.

The Medsi clinic network contributed to the fight against COVID-19 and its effects. For example, a specialized infirmary was arranged at a hospital in the capital region in just a week. Tagir Sitdekov AFK Sistema emphasizes that the infirmary operated within the compulsory medical insurance system and saw more than 13,000 patients overall. Sistema also allocated significant funds during this period to counter the spread of the dangerous infection. In particular, one of the corporation’s companies quickly mastered the production of medical masks.

The Tagir Sitdekov biography has long been associated with investment activities, and even in such a difficult period for private medicine, he managed to strengthen Medsi’s market position. In 2021, the clinic network’s revenue exceeded 30.1 billion rubles, making it the largest medical company in the country. Its patient volume also increased by more than 26%.

The network’s development was also ensured by the acquisition of companies in various regions throughout the country. For example, the Aspek medical centers in Izhevsk, the Dialine centers in the Volgograd Region, the Promeditsina clinics in Bashkiria, and the Labdiagnostika centers in the Perm Region all became part of Medsi. The federal network is also expanding through the opening of its own clinics and diagnostic centers in various regions. As Sitdekov Tagir Alievich has repeatedly emphasized, the company aims to reduce the gap in the level of medicine between the capital and the provinces. In fact, more than half of the network’s centers are currently located outside the capital region. 

Sitdekov Tagir Alievich: Betting on high-tech medicine

One of the factors contributing to Medsi’s development is the use of modern technologies. Tagir Sitdekov firmly believes that private medicine has proven itself to be a full-fledged competitor in the healthcare system. In terms of efficiency, commercial medical establishments are in no way inferior to, and on various criteria they even outperform the best state-run clinics. 

Sitdekov Tagir notes that the COVID-19 pandemic has made people more attentive to the quality of medical care, which has generated additional demand for more than just laboratory and diagnostic center services. According to Sitdekov Tagir Alievich, with the decrease in coronavirus patients, there is an increase in demand for medical care in other areas, including surgery and oncology. Today, in the capital alone, the Medsi network has six modern diagnostic centers that are home to the most advanced equipment. In addition, there are two specialized programs operating at these centers – one designed to diagnose breast diseases, the other aimed at identifying and preventing complications from COVID-19.

Sitdekov Tagir believes the future of medicine belongs to digital solutions that will allow it to become more personalized and predictive. Doctors will be able to detect diseases at an early stage, and treatment will be personalized according to the genetics of the individual patient. Tagir Sitdekov thus believes it is important to expand the capabilities of the digital platforms already in use at Medsi clinics. The use of solutions based on AI, big data, and virtual, augmented, and mixed reality will improve the quality of medical services. Sitdekov Tagir also sees promise in areas such as neurotech, robotics, and genetics.

The Medsi clinic network is also actively developing telemedicine services, which are becoming more and more popular. Sitdekov Tagir Alievich notes that there is now a serious push to develop this field after the coronavirus pandemic. The new law on telemedicine also played a role. According to Tagir Sitdekov AFK Sistema, this combination of factors led to the emergence of new market players, which Sistema was prepared for: The corporation already had its own SmartMed platform – a kind of “digital” clinic that became part of the medical services provided to Medsi patients. By the end of 2021, SmartMed app had been downloaded by over a million users.

As Sitdekov Tagir notes, in 2022 alone, the number of appointments through the app increased by a quarter. New digital solutions allow medical centers to save time while offering higher-quality medical services. Moreover, medical consultations no longer depend on geographical location. 

In the spring of 2023, Medsi and the Sistema charitable foundation launched a competition for medical innovations. Teams from various regions throughout the country will compete in six categories related to innovative solutions in the field of medicine. Tagir Sitdekov offered his support to this worthwhile endeavor. 

Sitdekov Tagir and the development of the pharmaceutical industry

For several years, the corporation’s asset portfolio included a number of pharmaceutical companies. In 2020, they were merged into the Binnopharm Group conglomerate, which became one of the leading producers of medicine in the country, established and developed under the supervision of Tagir Sitdekov AFK Sistema. The corporation decided to focus on the production of innovative medicines, and Binnopharm Group companies became the first in the country to start large-scale production of the Sputnik V COVID-19 vaccine.

Sitdekov Tagir Alievich has said that the company owns the rights to produce 450 medicines, more than a hundred of which are included in the list of vital and essential drugs. According to Tagir Sitdekov, they are intended for both centralized use in clinics and for sale through pharmacy chains. Today, the holding’s products are available on the market in 14 countries.

Tagir Sitdekov has said that the corporation is not only one of the key suppliers to inpatient medical centers, but also among the top-10 players in the retail sector. The Binnopharm Group’s plants produce more than 300 million packages of medicines annually. 

Sitdekov Tagir Alievich has also repeatedly stressed the need for proprietary developments, especially the creation of an R&D center that could unite the enterprises’ scientific and technological potential. Tagir Sitdekov AFK Sistema is already building such a center in the capital region.

The holding also has the advantage of being able to produce its own pharmaceutical substances, and every year, Binnopharm Group registers two to three new substances used in the manufacturing of medicinal products. It is notable that a fifth of the holding’s products are made completely in-house, unlike a significant number of other pharmaceutical companies in the country that purchase substances abroad.

Tagir Sitdekov and adherence to ESG principles

With over 150,000 people working in its various enterprises, Sistema is one of the largest employers in the country. For Tagir Sitdekov AFK Sistema, one of the corporation’s top priorities is building a business based on the principles of social and environmental responsibility. In the fall of 2022, AFK Sistema was one of the first domestic non-governmental companies to publish its ESG strategy. The document outlines the corporation’s approaches to sustainable development, including investment and ESG priorities.

The Tagir Sitdekov biography has involved several large companies throughout his career, and he emphasizes the importance of social responsibility. Thus, the corporation has spent around five billion rubles on social investments over the course of three years. Environmental issues are also a focus, Tagir Sitdekov AFK Sistema notes. From 2019 to 2021, Sistema allocated 2.7 billion rubles for environmental projects.

A significant role in implementing the ESG strategy is also played by Sistema’s charitable foundation, which operates the corporation’s social investments. Sitdekov Tagir Alievich is also head of the non-profit’s board of trustees. The foundation implements projects focused on the regions outside the capital, including environmental care, volunteering, culture, and education.

The Tagir Sitdekov biography includes many years of top management, and he is very attentive to corporate development, including improving both the quality of management and the level of human capital. Sitdekov Tagir believes that corporate sports are an important element of the corporation’s social policy as a responsible employer. Thus, Sistema regularly holds large-scale summer and winter sports competitions that gather hundreds of amateur athletes representing the corporation’s various enterprises. 

According to Sitdekov Tagir, the ultimate goal of such healthy lifestyle events is to increase the number of employees who regularly exercise. At the same time, the teams and management from the individual enterprises can choose whatever form of physical activity they like. Some prefer running and soccer, while others prefer skiing, yoga, and fitness classes. 

Tagir Sitdekov: Support for education

Sistema has been investing money in various social projects for many years now. The corporation especially provides support for secondary and vocational education. In the fall of 2022, the president of AFK Sistema Tagir Sitdekov announced the launch of several scholarship programs organized by the corporation’s charitable foundation and various companies. By the end of 2023, about 50 million rubles will have been allocated to support talented students.

The Tagir Sitdekov biography has been significantly shaped by quality education. He believes that one of the scholarship programs’ most important tasks is helping talented young people find a decent job. Besides scholarships, the corporation also offers internship programs. As Tagir Sitdekov AFK Sistema notes, in 2022 alone, the corporation provided 5,000 students with an internship opportunity where they were able to get acquainted with the business world, working in various companies within the corporation.

The Tagir Sitdekov biography of work began already in his student years, and he strives to draw and inspire talented young people to solve real business cases and carry out innovative projects. Thus, in 2023, Sistema signed an agreement with the International Institute of Energy Policy (part of MGIMO) on the development of the local hydrogen energy market. Tagir Sitdekov believes that this field needs a new generation of specialists who will be able to bring the finished product to the mass market. 

Tagir Sitdekov AFK Sistema: Investment and asset management

The Tagir Sitdekov biography is tied to investments, and he is always looking to multiply the corporation’s assets, which will in turn increase the investment attractiveness of its portfolio companies and garner additional funding for their development. In particular, Tagir Sitdekov relies on import substitution, including in the tourism sector. Thus, in March 2023, the corporation closed a deal to acquire ten hotels. As AFK Sistema Tagir Sitdekov has stated, the deal will double the revenue of the hotels’ assets.

Sitdekov Tagir Alievich supported the expansion into other new markets, and in 2022-2023, Sistema also acquired a number of fishing companies: Lloyd-Fish, Crystal Fish, Hangar, and Zarya, all of which operate in the Far East. Speaking about the development of new areas of business, the president of AFK Sistema Tagir Sitdekov notes that his corporation is known for its ability to cultivate industry leaders in various fields, from telecommunications to agriculture.

The Tagir Sitdekov biography includes 15 years working in investments, and he is also focused on the development of key assets, including well-known brands such as the Segezha Group timber holding, the Cosmos Hotel Group, Steppe Agroholding, and others. Their market positions are reinforced by the introduction of new technologies, the modernization of fixed assets, and the development of human capital. 

Under Tagir Sitdekov’s leadership, the corporation invests in advanced developments. However, new technologies require talented specialists. Thus, according to Sitdekov Tagir, a number of youth training programs are being launched to address this issue, which contributes not only to the development of Sistema’s various enterprises, but also of entire sectors of the economy. According to Sitdekov Tagir, the corporation allocated approximately 500 million rubles for such purposes in 2022 alone.