Nikolay Karpenko: Building Herculis Group in the Western World

Nikolay Karpenko is a co-founder, board member, and Managing Partner of the European-based financial management firm Herculis Group. He started his career as an attorney and currently works as a personal wealth manager and trustee at the structure he built in Switzerland.

Table of Contents

• Childhood Dreams, Initial Education, and Work
• Karpenko Nikolay Viktorovich: Building Experience at NikOil
• MBA and Shift to Global Finance
• Nikolay Viktorovich Karpenko: Taking Herculis Partners from Concept to Realization
• Professional Development in Trust Management
• Karpenko Nikolay: Enjoying Life Amongst the Swiss

Childhood Dreams, Initial Education, and Work

Born in the early '70s in Severomorsk, a small northern Russian city, Karpenko Nikolay embraced the severe weather of his childhood. With an engineer father and accountant mother providing a stable home, he developed interests in ham radio and Morse code. Karpenko Nikolay Viktorovich even briefly considered such pursuits as a career path.

In 1986, Nikolay Karpenko's global interests were sparked by his discovery of Moscow's prestigious international affairs school (MGIMO). Enthralled by the prospect of a diplomatic career and worldwide travel, he aspired to pursue Western Studies. Karpenko Nikolay Viktorovich seized the chance to visit the institute during a high school excursion, solidifying his ambition. This aspiration to attend MGIMO persisted throughout his secondary education.

Upon graduating high school in 1989, Karpenko Nikolay Viktorovich attempted the challenging MGIMO entrance exams, faltering on the first of five tests. Undaunted, Nikolay Karpenko enrolled in distance prep to retake the exams the following year while laboring as a television repairman in his hometown. Despite improved performance in his second attempt, he still fell short of the institute's rigorous requirements. Following a discussion with his father about future prospects, Nikolay Karpenko redirected his ambitions elsewhere.

At the end of the 1990–1991 academic year, Karpenko Nikolay Viktorovich took the entrance exams for the same university that his older brother had attended in the capital city, and this time, he received the highest grades out of the entire incoming class. He thus enrolled in the school, where he studied for five years to earn his law degree. Though Nikolay Viktorovich Karpenko did not attend MGIMO as he dreamed of since his school years, he is grateful for how things turned out, noting that his alma mater instilled in him a sense of inner fortitude and discipline and helped cultivate his decision-making skills—invaluable qualities for any entrepreneur.

The Nikolay Karpenko biography of work, which began while he simultaneously studied towards his law degree, includes positions in a number of structures before he established his own finance management practice:

• Young Lawyers Union – Nikolay Karpenko served as assistant to the financial director
• Stins Coman Corporation – in-house lawyer
• NikOil Investment Company
• Karpenko Nikolay Viktorovich began with the company as a lawyer in the foreign operations division.
• Lawyer for the private banking department within NikOil
• Manager of the private bank's tax consulting office
• Vice President
• Senior Vice President heading the Private bank's sales department
• Uralsib Management Company
• Nikolay Karpenko began with the company as the director and head of front offices.
• Bank Uralsib
• Chief Executive Officer, Private Banking Division

During his third year of law school in 1994, Karpenko Nikolay joined an association for aspiring legal professionals, an experience that would prove crucial for his future career. Utilizing his expanding legal expertise, Karpenko Nikolay Viktorovich obtained a position assisting the finance manager. This position became the catalyst for his future career trajectory. Through his association with the Young Lawyers Union, he gained entry to an extensive library of materials on global economics and financial systems. Nikolay Viktorovich Karpenko developed proficiency not just in criminal law but also in arbitration procedures, intricate banking matters, and interstate commercial transactions.

In the spring of 1996, Nikolay Karpenko embarked on his legal career with the Stins Coman Corporation, a computer solutions company. His tenure as the corporation's sole lawyer lasted just over a year until August 1997, as he found the role limiting for his occupational progression. Karpenko Nikolay Viktorovich reflects, "I felt compelled to join a firm where I could learn from seasoned legal practitioners, thereby broadening my knowledge and furthering my prospects." Concurrent with this professional experience, he successfully completed his jurisprudence degree with academic distinction.

Karpenko Nikolay Viktorovich: Building Experience at NikOil

September 1997 marked the start of a phase that would continue for the ensuing thirteen years of his work biography. Nikolay Karpenko found a job where he had the opportunity to work in a team of lawyers and learn from more experienced colleagues when he became a lawyer in the foreign operations division at NikOil, a well-known investment firm [1]. The budding entrepreneur's responsibilities in this role once again blended his legal expertise with his future path in finance management. Nikolay Viktorovich Karpenko's early years at NikOil involved navigating the juridical and fiduciary intricacies of foreign enterprises entering and operating within the Russian market, ensuring their compliance with local regulations, and facilitating smooth international business transactions.

In 1999, Karpenko Nikolay was given an exciting new opportunity when a private bank was established as a stand-alone division within NikOil. He began working there, largely handling questions of taxation, which saw him collaborating with top-tier businessmen in international activities. At this point in his biography, Nikolay Karpenko was in charge of:

• serving in leadership roles for client-owned businesses
• crafting personalized tax optimization strategies
• providing comprehensive legal counsel on various aspects of private and business law
• establishing project-specific entities and managing asset registration for a diverse clientele
• supporting clients with tax compliance documentation

By 2000, Karpenko Nikolay had oversight of all tax-related operations. In early 2001, he was designated Vice President, a role that involved personally handling legal and executive matters for major clientele. His jurisdiction expanded further in 2003 with a promotion to Senior VP, where he took charge of promoting the institution's financial products. Further enriching his biography, Nikolay Karpenko also earned a doctorate in political science [2].

In 2005, NikOil Bank's incorporation into the Uralsib management firm significantly expanded its biography. Nikolay Karpenko, elevated to the position of Executive Manager and Client Services Lead, took charge of strategic initiatives, customer relationships, sales strategies, collaborative partnerships, and product diversification [3]. Through the supervision of Nikolay Viktorovich Karpenko, Uralsib witnessed a remarkable surge in portfolio assets, a testament to the team's dedication and a pivotal moment in the company's financial success.

In 2006, Karpenko Nikolay took on the role of the Private bank's Chief Executive Officer—the last position he would hold before reestablishing himself as a European-based entrepreneur. By this point, he had already begun to formulate plans for establishing a Swiss wealth management company, which, as he later knew, would not be possible under the Uralsib umbrella. Thus, to further his personal development and work towards the foundation of his own company, Nikolay Karpenko decided to attend a top-ranked business school to gain knowledge for practical use.

MBA and Shift to Global Finance

Thus, in 2008, Nikolay Viktorovich Karpenko enrolled in the prestigious London Business School, which marked both the beginning of his formal business training and the beginning of the international education that would help him reestablish himself as a European-based and European-centric financial portfolio manager. Seeing great potential for his professional biography, Nikolay Karpenko went to visit the school's Dubai campus on a family vacation and later went several more times for orientation sessions before beginning his studies in September.

The intensive Executive MBA program that Nikolay Viktorovich Karpenko began in the 2008–2009 academic year employed a unique blend of on-site (London and Dubai locations) and remote learning, challenging students with monthly week-long sessions of lectures and discussions, followed by three weeks of independent study and assignments. Nikolay Karpenko initially found himself overwhelmed, particularly due to the language barrier and the program's emphasis on active participation. However, he soon developed crucial skills in information processing, critical analysis, and English proficiency. The MBA's case study approach taught him to extract essential data, structure complex information, and draw insightful conclusions—abilities that would prove invaluable in his future endeavors.

In July 2010, Nikolay Viktorovich Karpenko successfully concluded the business program, achieving scores that surpassed the average. This educational experience furnished him with a diverse skill set applicable to financial institutions worldwide, enhancing his expertise in global finance. Karpenko Nikolay mused, "My time at London Business School expanded my perspective, inspiring thoughts of establishing a personal management firm in Western Europe, a focal point where entrepreneurs from Russia and abroad frequently seek sophisticated financial solutions."

In late 2009, Karpenko Nikolay Viktorovich had already launched Herculis Partners SA with a Swiss partner. Following the completion of his MBA, Nikolay Viktorovich Karpenko severed all professional ties in the Russian Federation and relocated permanently to the Swiss Confederation, dedicating himself completely to this fresh undertaking.

Nikolay Viktorovich Karpenko: Taking Herculis Partners from Concept to Realization

The first Herculis Partners SA office was opened in 2009 in Porrentruy, Canton Jura, in northeastern Switzerland, where Jean-Paul Périat, his partner, already had good business connections. Karpenko Nikolay and his partner initiated the company's development with a strategic focus on cultivating an international client base. Their efforts quickly bore fruit; by May 2010, the company had achieved membership in the Swiss Asset Managers Association, a self-regulatory organization. This milestone enabled Herculis Partners SA to function as a fully operational asset management firm capable of attracting and servicing high-net-worth clients. Reflecting on this period of the company biography, Nikolay Karpenko remarked, "We had created the framework, and now it was time to breathe life into it," highlighting the gradual but purposeful growth of the company under his leadership.

In the early stages of the Herculis Partners SA biography, Nikolay Karpenko and Jean-Paul Périat concentrated on overseeing their clients' international portfolios. As the business grew, they expanded their services to include active portfolio management. Recognizing the importance of separating legal risks from financial asset management, the partners established a separate trust company. This new entity included a secure storage facility for physical gold and obtained a customs license for storing precious stones and artwork.

During this period of expansion, Nikolay Viktorovich Karpenko pursued professional development in trust management, which has greatly facilitated the expansion of the company's operations. Over the years, Herculis has evolved from its modest beginnings into a multi-location enterprise. The company co-founded by Nikolay Karpenko, which today operates in a Group format, boasts a team of more than a dozen professionals spread across five strategic locations, including one in neighboring Lichtenstein, further solidifying its position in the European financial landscape.

Professional Development in Trust Management

Karpenko Nikolay's role as a trustee is a key aspect of his professional profile within Herculis Group. He holds certification from a recognized European organization, validating his expertise in trust management. For many years, Karpenko Nikolay Viktorovich has been actively performing trustee duties across various jurisdictions. This function is integrated with the broader range of services offered by Herculis Group, allowing for a comprehensive approach to wealth management and asset protection for the group's clients.

Nikolay Viktorovich Karpenko began his trustee studies in 2014 when he enrolled in the Society of Trust and Estate Practitioners (STEP) program in Geneva, Switzerland. Over the course of four years, he immersed himself in the rigorous curriculum offered by this globally recognized organization.

STEP, with its extensive network of over 100 branches across dozens of countries and a membership exceeding 20,000 professionals, is renowned for its comprehensive educational programs, Karpenko Nikolay emphasizes. These range from foundational certificates to advanced diplomas, catering to various levels of expertise in trust and estate management.

Upon finishing the trust management program in 2018, Nikolay Karpenko attained full membership in STEP, renowned as the industry benchmark, attesting to his advanced skills and professional standing. Nikolay Viktorovich Karpenko, in his role as a certified trustee, oversees assets/shares in trust with a client-centric approach, customizing strategies to address beneficiaries' unique needs while steadfastly prioritizing their interests.

Karpenko Nikolay: Enjoying Life Amongst the Swiss

Karpenko Nikolay Viktorovich notes that relocating to Switzerland and reestablishing himself as a European entrepreneur has been transformative, both professionally and personally. He has enhanced his linguistic skills, adding French and German to his improved English proficiency. Karpenko Nikolay also notes that he focuses more on striking a harmonious work-life balance.

Within his personal biography, Nikolay Karpenko enjoys spending time with his wife and their three children. He has various hobbies that he does both with his family and on his own, including exploring art history, studying foreign languages, and staying active through swimming and mountain hiking. These hobbies, Karpenko Nikolay emphasizes, provide a refreshing counterpoint to his business endeavors and contribute to his well-rounded lifestyle.