Migratio Group, an investment migration (IM) firm headquartered in Dubai that has a dozen offices worldwide, is appointing Denis Kravchenko, the Investment Migration Council’s Head of Stakeholder Relations, as its new CEO.
Following what Migratio’s co-founder Valentina Solokhina described to IMI as “a year and a half of slow negotiations related to that position”, the firm began courting 26-year-old Kravchenko several months ago for the CEO role.
“We have been in touch with many C-level position holders at various investment migration and CSP companies over the past year and a half,” said Solokhina. “We have been on the lookout for someone who can not only lead the growth but also shares our life philosophies of providing the best experience to our clients and partners beyond the interests of the Group – a significant challenge, especially in the UAE.”
Solokhina describes Denis as someone who has “an in-depth understanding of how the industry operates, along with the sector’s best practices – the kind of skills you would want to have in the hands of not only a C-level executive but any member of your team. Denis is well known across the B2B sector of the industry and the industry’s best practices are within his DNA now – strategically, that can be a significant advantage for the Group’s position within the industry,” remarks Solokhina.
Bringing best practices
Speaking to IMI, Kravchenko expresses excitement about his new role, for which he believes his tenure at the industry’s chief advocacy group has prepared him well.
“One would agree that being at the forefront of the industry and getting to know all kinds of business models across the globe is a valuable experience,” he comments. “Combine that with the day-to-day need for constant product enhancement and, indeed, a daily ‘relationship management requirement’ at the IMC – as there are almost 500 members across the globe that I was in touch on a regular basis – and you would get a combination of skills that can prepare you for pretty much any kind of challenge.”
He also points out that he’s coming to the job with clear ideas of how industry firms should properly conduct business.
“The IMC is a standards-setting body – the only such body in our sector – so having first-hand experience of ‘how things should be done’ can serve well to the entire Group and to the vast network of partners.”
Questioned about his expectations for taking on the CEO role of a major company at such a young age and without prior experience as an executive at a service provider, Kravchenko, who will be starting as CEO on November 1st, concedes that he does have some butterflies.
“Of course I’m nervous. But I’m ambitious and 100% confident that I can do it better than most of the ‘mature’ guys do. Our sector is evolving and you can’t neglect the fact that it is not what it was five years ago, let alone ten. So, being young and flexible is rather an advantage than the opposite. That is my vision and it’s one shared by the shareholders of the group.”
Unit heads switching lanes
The last few weeks have seen a number of senior-level moves across the industry. Just last week, long-time helmsman of Malta’s citizenship by investment initiatives (in its various guises), Jonathan Cardona, is becoming the CEO of Enemalta, the country’s main energy company. The Community Malta Agency, the bureau currently governing the island’s MEIN policy (effectively, a CIP), has yet to name a replacement.
Earlier this month, it became clear that Saint Lucia’s new government aims to replace Nestor Alfred, the CIU-head appointed by the former administration. Though he did not wish to comment on the matter, he is likely entertaining offers from the private sector. It is not uncommon for former Unit heads to take on senior positions with service providers following their tenures on the other side of the fence, usually at far better terms.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.