A new type of global company. "Global companies are the result of purposeful growth"

Having entered the market in 1980, INFRACA has become one of the global market leaders in the production of doors for cold storage rooms and warehouses. The headquarters is located in the Spanish city of Valencia, and products are supplied throughout the world far beyond Spain. This became possible thanks to the high quality of products offered to consumers under the INFRACA brand.

To enter the global market, the company has developed strict quality control methods for its products. This made it possible to obtain an international certificate of compliance with all international requirements that are put forward for refrigerated doors - UNE-EN ISO9001:2000. To confirm this, the company has a specialized department responsible for relations with customers around the world and monitoring the quality of supplied products.

INFRACA works with customers who install, maintain or operate refrigeration equipment and industrial doors around the world. To achieve maximum success, an individual approach strategy was chosen. Our production facilities allow us to take into account all the customer’s wishes, offering him the best options.

Expanding the geography of supplies, we enter into agreements with contractor companies that install and service our products. This allows, despite the geographic remoteness of the client, to receive the highest quality service. The personnel of such companies must undergo training and internship at INFRACA, which guarantees the most high standards services that are controlled by the relevant departments of the company.

We care about the high qualifications of not only those employees who work at the main INFRACA enterprises. The Human Resources department carefully selects personnel from offices around the world to ensure consistently high quality service. This allows, in addition, to quickly implement all the innovations that are constantly being developed by the company's design bureau. It is this approach that has allowed us to produce the best cold storage doors and gates for industrial buildings for many years, remaining a leader in the global market.

The main goal of the company is to strengthen its position in the global market by improving the quality of the products offered and high-quality service. Today we are working in most European countries, successfully developing trade relations with the largest countries in Africa, the markets of Latin America and Asia.

In different countries of the world.

Globalization is a new phenomenon in the development of international business that arose at the end of the twentieth century. It was preceded by the emergence of transnational corporations. The ideal model of globalization is complete standardization of production process, trade and strategy.

Stages of internationalization economic activity or the formation of the world economy in Fig. 3.1 are given.

Rice. 3.1. Stages of globalization of the world economy

A global company is a company that produces and sells products in different countries, but does so using the same group of products, a single production process and a single strategy in all markets. Global corporations view the entire world as a single market.

The most common global companies are multinational companies. On modern stage They maintain and expand their positions in the economies of developing countries, increase investments in the manufacturing industry of these countries and create enterprises for the production of individual parts of machine components or the performance of certain technological operations, thereby contributing to the development of their economy and bringing it closer to the economy of industrialized countries.

Transnational corporations (TNCs) are the largest companies, national in capital, but based on the export of capital, they have become international in their field of activity. TNCs are the basis of globalization, its main driving force. Currently, a significant part of world production is in the hands of TNCs. For example, the automobile concern Ford has branches in 30 countries, General Motors, Siemens (Germany), Phillips (Holland), Gazprom (Russia), etc.

A multinational corporation (MNC) is a company that does business in different countries, adapting products and methods to local conditions, taking into account the specific markets. Each company's enterprise operates in a specialized market.

Truly global markets offer a new type of corporation. The global company replaces the multinational company as the most effective competitor internationally. A global company avoids the high comparative costs of MNCs by offering single, standardized products to a homogeneous worldwide market.

The global strategy must focus on Kaizen - a single process that includes world-class manufacturing strategies such as JIT, TQM, Total Productive Maintenance (TPM) and Total Employee Involvement (TEI). Its goal is to create consumer value by reducing added value at each technological stage by minimizing costs. This can be achieved when employees “get sick” of continuous improvement.

Organizations such as the World Economy have a great influence on the formation of the world economy. trade Organization(WTO), International Monetary Fund (IVF), International Bank for Reconstruction and Development (IBRR), G7, etc. They are building the world as a single market and as a transnational company. They represent the world economy as a qualitatively new production organism, in which its individual parts (national economies) are in one or another production relationship.

Explanation*: the annual income from sales of goods of the General Motors Corporation alone exceeds the total GNP of seventy countries.

One of the trends in the development of world economic relations is the emergence of global and multinational companies, as well as global and multinational market niches.

Reasons for merging companies:

Ruin of companies

The desire of companies to globalize their activities

Comparative characteristics of global and multinational companies

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American Forbes has prepared its annual ranking of the 2000 largest public companies in the world. In its calculations, Forbes took equally into account four indicators: revenue, profit, asset size and market capitalization.

The total indicators of those included in the latest list over the past year have increased noticeably. Together, the rating participants generated $32 trillion in revenue (an increase of $2 trillion), and total profit amounted to $2.4 trillion compared to $1.4 trillion a year earlier. Forbes estimated the assets of the 2000 largest corporations at $138 trillion, and their total capitalization at $38 trillion.

The largest representation is still from the United States, which delegated 536 companies to the list. American leadership does not yet raise any questions: 260 companies from its main competitor, Japan, made it into the rating. In addition, while American companies took 28 places in the first hundred, Japanese companies took only five. At the same time, the largest of them - Nippon Telegraph & Tel - is located only in 48th place. The USA and Japan are followed by China (121 companies), Canada (67 companies) and South Korea(61 companies).

Representatives of the financial sector dominate the ranking (480 companies). Huge assets, of course, are their main trump card. Oil and gas companies lag far behind - there are 127 of them in the ranking. In terms of profit growth, insurance companies take first place (624%), in terms of revenue growth - semiconductor manufacturers (45%), and in terms of capitalization growth - automakers (57%).

JPMorgan Chase ranks first in the ranking for the second year in a row. Over the year, JPMorgan slightly improved its results: revenue amounted to $115.48 billion ($115.63 billion last year), profit $17.37 billion ($11.65 billion), assets $2117 billion ($2031 billion), capitalization $182.21 billion ($166.19 billion a year ago). At the same time, these indicators can hardly be called outstanding; JPMorgan is not even in the top 10 for any of them.

Second place is now occupied by HSBC. The British bank's rise from eighth place was helped by rapid growth in profits: from $5.83 billion to $13.3 billion. The once undisputed leader, the American corporation General Electric, closes the top three. GE's revenue for the year decreased from $156.78 billion to $150.21 billion, and the value of assets from $781 billion to $751 billion.

Next come three oil companies: ExxonMobil (world leader in capitalization - $407.2 billion), Dutch Shell and Chinese PetroChina. ICBC, the largest Chinese bank, ranks 7th: with revenue of $69.19 billion, ICBC's profit amounted to $18.84 billion. The top ten is completed by Warren Buffett's investment fund Berkshire Hathaway, a Brazilian state-owned oil company Petrobras-Petróleo Brasil and Citigroup bank.

The number of Russian companies on the list decreased by two, to 26. Three managed to break into the top hundred: Gazprom (15th place), Lukoil (71st) and Rosneft (77th). Gazprom, in addition, turned out to be the third company in terms of profit - $25.72 billion. Only ExxonMobil ($30.46 billion) and Nestle ($36.65 billion) earned more than the Russian gas giant.

The shutdown of Russian banks under sanctions by international payment systems made it possible to implement an idea that had been discussed for many years in just a year - it was created National system payment cards (NSCP). When they announced the localization of Russian traffic or the need to make a deposit, Visa did not rule out leaving the market. Later, a law was passed according to which NSPK should handle all Russian transactions of international payment systems - traffic had to be transferred before March 31, 2015. Visa signed an agreement with NSPK when there was nothing left before this date - in February, and eventually transferred the traffic later than the established deadline, several months later than the main competitor – MasterCard. Bazaar participants explained this both as a manifestation of Visa’s disloyalty and by the fact that it has a more complex technology for processing transactions, and accordingly, the transition required more time.

Now NSPK acts as a processing center in Russia for Visa and other systems and receives a fee for this in the form of a percentage of revenue. A year after the transfer of traffic, the heads of the Russian offices of the two most common payment systems in Russia - Visa and MasterCard - were replaced. The management of Visa credited the decision to hire for the position of general director a person not from the company itself, but from the market, but who had a good understanding of Russian specifics. This was Ekaterina Petelina, who worked for VTB Group for 10 years.

She spoke in an interview with Vedomosti about why the life of international payment systems has hardly changed with the advent of the NSPK and why Russia is still one of the priority markets for Visa.

– You recently took up your position, what tasks do you face in developing your business in Russia?

– There are tasks to develop business in Russia... This is a completely correct formulation. Russia is a very large and promising market, primarily because more than 75% of turnover is cash. And this, on the one hand, is a sad fact, on the other hand, this is something that represents a huge opportunity for banks and payment systems to develop their business. My task is to increase business volumes, primarily by reducing the share of cash and increasing the share of electronic payments.

– Is it inevitable that your arrival was also connected with the creation of the NSPK, since the company needed a Russian-speaking manager who was familiar with Russian realities?

Ekaterina Petelina

General Director of Visa in Russia

Born in 1973 in Natelny Novgorod. Graduated from Nizhny Novgorod State University named after. N. I. Lobachevsky, received an MBA degree from Emory University (Atlanta, USA) in 2003

Consultant at the Moscow office of McKinsey & Company

Vice President, Head of Corporate Development Department, VTB Bank

Appointed Senior Vice President of VTB

Joined the board of VTB

Became Deputy President - Chairman of the Board of VTB 24 Bank

Headed the Russian office of Visa

– These are not my targets, but the goals of the global leadership, but I think so. My arrival is a signal of Visa’s commitment to the Russian bazaar. Secondly, yes, they were looking for a person who would understand the Russian market well and know it from the point of view of banks and players. Apparently, the stars somehow aligned for me.

– All payment systems report that their main competitor is cash. But you still have competitors in the form of other payment systems. Have you been given any kind of market share target?

– This is exactly my task now and the task of my team – to develop a three-year vision for the development of Visa’s business in Russia, to clearly set targets for business development, both quantitative and qualitative.

– This will be the strategy that you will present to the global office?

– Is it always like this at Visa – they adopt a strategy for three years?

- No. It's been like this forever for me. (Laughs.) I think that Russia is a country where it is difficult to make long-term forecasts. The same can be said about the payments industry. By the way, there are industries, for example the space industry, where a strategy for 20 years is adopted. Our region is much more dynamic, and so is our country. In light of this dynamic, I think that a 10-year strategy is something not entirely realistic; in a one-year business plan, you don’t have time to do everything and not all the initiatives that you plan manage to pay off, and a three- or five-year strategy is the right compromise.

– Visa is a global company. To what extent can you resolve issues on your own, and which ones require approval?

– International companies, like, by the way, the VTB group where I worked, are managed according to a matrix structure, where my responsibility as a local manager is for the results of geography. I am responsible for the development of Visa business in Russia, this is my belt of responsibility. And there are functions that are managed globally: technology, innovation, risks, finance, marketing. There are partnerships that are managed globally - the same Facebook, Google, Apple, etc. There is a global vision and global problems that Visa solves, and they are reflected in the local market. Not all Visa products in all bazaars are the same. For example, in Russia there is a similar phenomenon as salary projects, and this is a very important part of our business and product strategy. Or, for example, the premium segment, the segment of wealthy clients, it looks different in Russia and in other countries. If only because he is 20 years younger than us.

– To what extent was the policy regarding the NSPK determined?

– At the global level.

– How did the emergence of the NSPK change the market? Didn't payment systems factor in the emergence of such a player into their strategies?

– No, but I think that few companies included the situation at the end of 2014 in their strategy.

“Relationships with NSPK are developing well”

– The market has the impression that Visa was not very loyal during the transition to the NSPK. Is this so and how is your relationship with the NSPK now?

– Relations with NSPK are developing well; it plays many roles for us: both vendor and partner. Since May 2015, processing and clearing of all Russian domestic transactions has been carried out through NSPK. And in this part we must give credit: the team is professional and works well. In particular, we are now working on introducing a tokenization service that will allow us to introduce all these payment applications on the Russian market - Apple Pay, Samsung Pay and Android Pay. Inside all these applications lies one service - tokenization. What's the point? You have a card number, these are your payment data that you value. The tokenization service replaces the card number with a certain “reference” number, a token, which allows you to identify the client and carry out a transaction, but if an attacker receives the token, it will not give him anything at all. Because the token itself is just a “link” that does not contain any payment data, nor about the card, nor about the person, nor about the account balance. And with such a token, it is impossible to go to an ATM and try to withdraw money or pay online. This is a very good effective fraud prevention system, where you don't try to prevent cases where an attacker can gain access to information, but you make the information itself useless. This is a completely different approach, and it is much more effective.

– When will it start working?

– I have no right to name dates, but this year we will see launches.

– Launches, that is, not alone?

– And in terms of turnover, your share remains older?

– I can’t comment.

About competition

– Does the emergence of NSPK change the business model of payment systems?

– This does not change the business model, but it changes the overall configuration of how payment systems work in Russia. In accordance with the law, all transactions of payment systems within Russia must be processed through the NSPK, but at the same time, the traditional four-party model “acquirer - issuer - merchant - client” in terms of how payment systems receive money does not change. Rather, the industry itself is changing. If we report on the Russian market, there are several interesting trends. If in 2013 non-cash transactions accounted for 20%, then by the end of 2015 it was already 27%, in 2016 it will be 30% or a little over 30%. In another 3–5 years, based on the indicators of other countries, we predict that the share of purchases in stores using cards will be 40% or higher. Then do you understand what a huge leap this is, when from 20% of non-cash purchases in 2013 we will reach a share of 40% by 2020 and, probably, even earlier? In addition to the fact that overall card turnover is growing, there is this huge movement from cash transactions to non-cash transactions. This ensures tremendous growth of the system as a whole. For example, over the past year, card turnover has grown by more than 20%, in terms of transactions - an increase of quite 35%. Excellent growth. And, by the way, there is an interesting trend that things are growing faster than volumes. You should immediately say: “This means that the average check has decreased! What it is? Does this mean there are problems in Russia?” Answer: “No!” Because the decline in the mediocre receipt is a very good sign, it is a sign that more and more transactions are happening in the category of daily purchases. You pay with a card not only when you buy something large and expensive, but you pay with a card always and everywhere, every day in grocery stores, restaurants, gas stations, etc. This is a very healthy trend for us. And today, a significant third of Visa’s turnover comes from such daily purchases. Shopping is small, but frequent. For the coming year, we predict that non-cash card turnover will increase by at least 20%. This will happen due to two things: an increase in overall card turnover and an increase in the share of non-cash transactions. The overall size of the pie, namely Russian card turnover, is growing very strongly. The fact that a new player appears on the market, the Mir payment system, is five. Because the market is already large and rapidly growing, there is enough for everyone, and competition is always good. Perhaps Mir will be able to offer something that will be new for international payment systems. Of course, Mir has something to borrow from us and from our competitors. Competition always promotes two things: that the products will be more interesting, safer and healthier and that their cost will be adequate. We welcome competition: there is enough market for everyone.

– Don’t you think that NSPK’s competition is not entirely flawless, because they have a law according to which everyone must accept the Mir card, and no one is obliged to accept Visa and MasterCard. Are you already feeling this in your business?

– I hear from your question what you want to comprehend, and what we have competitive advantages. We are a global company with access to global data and expertise, we understand and feel consumer segments very well, we analyze card spending, we have the ability to prevent fraud online. There are more than 2.5 billion Visa cards issued worldwide, the VisaNet system can process 65,000 transactions per second, all this allows us to have access to such a volume of these and do this kind of analytics that is unparalleled. We are the owners of a unique asset, this database of these and this analytics, which can be used for everything: for security, for products, for customer segmentation, for building models for customer retention, for attracting customers to banks, for cross-selling of other products. Now the world of data is the main asset. We have global partnerships, I have already listed Apple, Facebook, Samsung, Google. I think that these players are interesting not only in America, they are interesting Russian consumers. We can move this asset and adapt it to our market. We have an innovation program, and the fact that Visa is headquartered in San Francisco, in Silicon Valley, provides access to all the current trends and innovations. Our task is to understand what will be exciting for the Russian market and introduce these innovations in Russia.

We have the scale, extent and quality of resources that a global company can provide. We are among the top 5 most powerful brands on the planet, this is also our global asset. If we talk about Russian assets, then we have our established client relationships, we have about 400 partner banks, more than 100 million cards and quite a few 1.4 million acceptance points in Russia. This is what we already have and what we will develop. In addition, we have established tariff policies and customer service systems, which also give us certain competitive advantages. Finally, Russia is already one of the seven key markets for Visa in terms of market volumes, and quite a lot in terms of growth rates.

– Even the appearance of the NSPK did not change this?

– But the company’s profits are decreasing (due to the need to pay NSPK for processing transactions).

– With your permission, I will not comment on this.

– Will you reduce tariffs?

– This is a separate topic. The tariffs that we charge banks are the tariffs that we regulate. A complex organism that must be balanced between all participants in the ecosystem.

The industry is changing

– How are relationships with banks changing? Maybe they are becoming bolder due to the emergence of “Universe”?

– I would note that it’s not even the relationships with partners that are changing, but the fact that the industry is very dynamic, the industry itself is changing a lot. This was one of the reasons why I decided to join the company. And this development of the industry takes place in several guises. First, there are new players. Previously, these were banks, payment systems, merchants (trade and service enterprises - Vedomosti) and acquirers. Now in the payment ecosystem there are players from other industries, Internet companies, technology companies, social networks, various kinds of startups, all aimed at working with people’s daily needs, which is called “payments”. Namely, so that they become simpler, safer, more efficient, etc. Secondly, consumer preferences are changing, and there are several trends that we clearly see.

The first is everything related to mobile payments. I recited statistics somewhere that a person looks at the screen of his smartphone 150 times a day. Once a person does something 150 times a day, it needs to be used. The second is the development of social networks and what is connected with them. If previously they were used only for communication, now they are used for making payments. We have a partnership with Odnoklassniki, there is a whole global partnership program between Visa and Facebook.

I would also note this trend that everyone wants and everyone is accustomed to the fact that everything should be simple. One click, one touch, biometrics, fingerprint. Everyone wants the number of iterations, including for making payments, to be reduced, so that everything is as simple as possible.

The fourth trend is security. We conducted surveys on why people do not use the card. Previously, people responded that they did not know what a map was or why it was needed. Now they often say that they are afraid of cyber fraudsters. Here, perhaps, I again have good news for the Russian bazaar. The level of card security in Russia is one of the highest in the world, and the number of fraudulent transactions continues to fall. In 2015, the degree of fraud was 3 kopecks. by 1000 rubles, decreasing from 4 kopecks. This is unprecedentedly low. I’ll add another fascinating thing about the Internet: we have cross-border transactions, they are divided into purchases at retail outlets and purchases in online stores. The share of the latter increased by more than 10 percentage points over the past year. One of the reasons is that people have stopped traveling abroad. But the other thing is the huge growth of e-commerce. We pay more attention to this segment and make it easier to pay online.

– About security: why is there something like this in Russia? low level fraud? Are different technologies used than in the rest of the world?

– Yes, in some ways Russia was lucky. Having started later than many other countries, we seem to have skipped several stages in the development of the payment industry - the same checks, for example. When card technologies just began to be introduced in Russia, when the infrastructure for accepting cards was actively developing, the most current standards, including from a security point of view, were already applied. For example, we switched to cards with a chip at the very beginning of this path. So the entire infrastructure was built more correctly from the very foundation.

The second is the work of us, payment systems, the work of banks and the NSPK to ensure that transactions are safe. Eat certain Visa products aimed at this, which allow you to monitor risks. There are certain platforms that we provide to clients to reduce risks. Thus, you can set limits on transactions abroad. There is a topic with SMS notifications, which banks are actively developing. When you receive a notification about a transaction a second later and see that it is not yours, you react very quickly. And this speed helps prevent fraud. Russia is, in many respects, a very progressive region, partly because we started later - and immediately at the modern level of technology.

– Is there a risk that Apple, Samsung, Google, Facebook will soon no longer need payment systems?

- But as? Payment systems are like blood vessels, they have an infrastructure that lies inside it and ensures that everything works. There may be different form factors. A card is just one of them, it is just a carrier of information. The fact that the telephone becomes a carrier of information is not bad if it is convenient for people, if it simplifies life, if they like it, if they trust it. Visa recently demonstrated a form factor in the form of a ring, where a transaction is completed by placing the ring against a terminal. There are watches, cars, the Internet of objects and many other innovations. But in order for them to work, a payment system is needed. The change is that Visa is becoming a multi-form factor platform.

Features of the national market

– Are there food products that Visa developed in Russia that are not found anywhere in the universe?

– There are such products, I’ll list a couple of them, but not all of them are present in Russia. There is such a product - Visa Direct, this is a transfer from card to card. In terms of the volume of transfers using this service, Visa in Russia is the leader in the region. We recently launched this service together with Odnoklassniki and are now working with another social network; this project will be implemented before the end of the year. The essence of the payment solution is social network– this is the ability to transfer money from card to card between users of this network. The second course, where we [Russia] are leaders, is contactless payments. Visa payWave technology, when you simply lean the card against the terminal. A product that is not available anywhere outside of Russia is the Gemini card. This product was invented and implemented in Russia; it is a card with two chips and two functions. The client is calm: he has one card, two chips, and he can use them in different ways. The traditional implementation is a debit and credit card. Then you can use your money or a bank loan. This can also be used as a loyalty card - points are credited for transactions on “one side”, and written off through the other, etc. Here are three examples, there are more. This is a great platform for creativity.

– What else will come to Russia, besides Apple Pay, what is there in the universe, but we don’t have yet?

– As I said, there is a tendency to simplify everything. Thus, Visa Checkout technology is the ability to pay with one click on websites, exactly on the seller’s page. Let's say you buy a train ticket, you simply log in and click on a button to complete the purchase. There is no need to re-enter payment and address details each time, which makes the purchase easier. This data must be entered once so that it is all “set up”. And then everything is as simple as possible - they ran, for example, to Ozon, pressed a button, paid, went to the Russian Railways website, pressed a button - paid, went to Aeroflot - pressed a button - paid.

Either the Card-on-File solution, or linking cards to the site is essentially the same story with sellers who have frequent transactions. It's a hassle-free solution for reusing data when shopping online. So, utilities, ordering a taxi, etc. What you pay often and what you don’t want to waste time on, the card is already prepopulated in your personal account.

– Will it come out soon?

– It’s not like it will be released in a week, but these are the services we are working on. Other products include everything related to mobile payments. In addition to innovation, there are also core (main) products, here I would probably name the three most significant areas. This is what is associated with “salary customers”: both we and banks are very interested in salary clients changing their behavior - from going to the ATM twice a month to paying by card wherever possible. And this change in behavior occurs, among other things, due to the fact that we somehow stimulate it with our products. These are various loyalty programs designed to make the card better than cash. And a card is better than cash because it is safer than cash, because it is safer than cash. It is much safer to carry a card than cash in your wallet. It allows you to earn additional benefits. When you pay with a card, you receive miles, points, etc. And here is just one example: we have made a new solution for salary projects - “collective cash back”. Not all companies earn so much that by paying with a card and receiving 1–1.5% cash back, you can save a lot. And we offer such a common piggy bank. Cash back is accumulated into the general treasury of the enterprise, then from this general treasury you can draw a corporate New Year, team building - go somewhere outdoors, order pizza on Fridays - who has what pressure lies with them. Or pay for conferences for employees, English style courses, or anything else that is interesting to employees. This stimulates very correct behavior among all employees, everyone feels good: it’s good for the employer, it’s good for the employees, it’s great for banks and it’s not bad for payment systems either. So this may not be an innovation from a technological point of view, but it is creative idea which stimulates correct behavior.

– Have you already launched this?

– Yes, with several banks.

– Do many companies use it?

– In the first week of launching the product with one bank, five companies signed up for it. This is one significant area - salary workers.

The second important direction in product development is offerings for the “affluent segment.” This is approximately a third of the turnover, this is not a lot of cards in pieces, but these are people who pay a lot with cards. As experienced card users, they pay more attention to discounts and loyalty programs, so that for what they pay with a card, they receive something from the bank and, accordingly, from the payment system. And the third course is products for travelers, everything related to travel. Here we develop new offers locally and globally.

Visa will play football

– It’s not long before the 2018 FIFA World Cup, Visa is a sponsor, and this is an event in our region.

- There will be a big holiday! And we have a lot of preparatory work ahead of us, because we are not just a sponsor, but a global partner of FIFA in the Payment Services category.

– Is something being prepared and what is the chance for the payment system?

– A lot is being prepared, and there is a lot of marketing activity, and special offers, promotions, food for both partner banks and end consumers. So it will be very intense interesting story. Also, holders of Visa cards issued by any Visa client bank in Russia and abroad will have a unique opportunity to be the first to purchase a ticket for the 2017 Confederations Cup during the preliminary sales. If you are talking about a chance to strengthen your position, then I specifically looked at the statistics for other countries: this allows you to make a certain movement in part of the market, and the movement is quite significant.

– How much can you name approximately?

– We are talking about a few percent.

– Does it help increase emissions or turns – or both?

- Both this and that.

For new experiences

– Was it difficult for you to make the decision to move to Visa?

- Very much. I worked for the VTB Group for 10 years, and I have great gratitude and warmth towards both the group and specific people. After you work for 10 years, it becomes not only a professional school, but also a family. Therefore, the decision was not easy.

- What’s the matter?

– Probably some kind of professional challenge, try yourself in the role of the first person, in the role of CEO, head of the company. And this is interesting, this is a new experiment for me. The second point is working for a global company. I already had this experiment when I worked at McKinsey, but I was always attracted to Visa as a global company due to its scale. The third factor is the area itself, it is very alive.

Payment system operator
Shareholders (these Bloomberg): almost all shares are in free float, the largest investors are Blackrock (6.37%), Vanguard Group (6.2%), Fidelity Management & Research (5.71%). Capitalization – $184.3 billion.
Financial indicators (nine months of the financial year ended June 30, 2016): Revenue – $10.8 billion,
net profit – $4.1 billion.
Number of transactions (for nine months of the financial year) – 74.4 billion for a total amount of $5.6 trillion.

– Some of your colleagues - market participants said that moving to Visa will allow you to spend more time with your family.

- It's a delusion. (Laughs.) Family was exactly what was on the other side of the scale, because any new job means, at least the first 4-6 months, a very deep immersion. When I moved from VTB to VTB 24, I remember very well that for the first four months I didn’t go to bed until two in the morning: the whole day of the meeting, I came home, had a snack, rested, and then I sat down for e-mail, for documents - and just to think . You still need time to just think! And, it would seem, a change of position within the group - from VTB to VTB 24 - but this was a transition from strategy to business, this was also a big transition. And here I already knew what I was getting into. I asked my husband for support. Yes, I see very little of the child now, but I hope that in 4-6 months the situation will calm down a little. It is very important to get to know and understand the team, the business, it is important to get to know the global team: the headquarters of our CEMEA region is in Dubai, and the headquarters of the global company is in San Francisco. All this takes effort and time. Another big part of the job is developing a strategy, understanding clear priorities and what needs to be done differently. It may be quite effective, perhaps, to develop some areas that require investment. But in about six months I should return to a normal 12-hour working day.

– What is it like for you now?

– (Laughs.) You see, a global company promotes round-the-clock work. In Dubai they work on Sundays, and in San Francisco they work during the night. The call rang before midnight, and at 6 am the box was already full of new mail. Therefore, very high levels of efficiency can be achieved. The main thing is not to die in the process.

– Do you already have a vision of what needs to be changed?

- No. (Laughs.) There are a couple of key processes where I see serious opportunities to make them more efficient. This is very good! And there are a couple of areas where I see that investments are needed, both resource and monetary. And if we do this, business will explode.

- Cool! In general, does a global company invest easily?

- We need to convince! When I went to San Francisco to meet the global team, I had two powerful impressions, even three. Firstly, this is the team itself, the caliber of people. This, of course, is very impressive in global companies. And the point is not that they are in Silicon Valley, but that a business like Visa has the opportunity to attract such people. I had more than 35 meetings and met with the heads of almost all the courses. And the caliber of people is impressive, it ignites, I went home inspired. The second thing that was nice to see and inspired was the interest in Russia. As the president of the company told me: “Everyone wants to meet with you - from the head of the company to the security guard.” The security guard, by the way, reported in Russian. They didn’t want to look at Ekaterina Petelina, but at the head of Visa in Russia. The interest in Russia is what impressed me. And third is readiness for change. I held a road show there of what is significant, what is relevant for the Russian market, as I see it. And I met a very bottomless level of understanding. And, by the way, I’ve already implemented a couple of things.

– Will you change the Russian team?

– We have two vacant positions of a serious level – head of products and head of marketing. That's how it worked out various reasons. The head of product, in particular, is leaving for a different, more senior position: Visa provides very positive opportunities for people to develop, which is good to see. These are opportunities both in the local market and some kind of global rotation. Overall I am impressed with the Russian team. People who know their business, motivated people - these are two very significant factors that I always look at. In the near future, these two key positions will be filled, and there we will look, live and work!

How did you phrase it at the beginning? Solve problems for business development in Russia. The prospects for the bazaar are enormous, so there is a lot that needs and wants to be done!

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