- Company Updates
DAVID FAKTORNON-EXECUTIVE CHAIRMAN
In 1981 David joined Stemcor Holdings Ltd as a management trainee. At the time Stemcor was a small Finished Steel European Export House. David helped build Stemcor into a major player in the global steel market. When he left the group in 2012 he was Group MD – it had grown to be the largest independent steel and steel raw materials trader in the world and David had established network of offices in the Far East, South Asia, the Middle East, the CIS, East, North and West Africa, Central and South America. During his time at Stemcor, David was responsible for the purchase of a Manganese and Iron Ore mine, building process and pipe plants for several industrial and major Indian groups. He founded Georgian Manganese (which became the largest company in Georgia) which was an integrated producer of ferro manganese, combining a mine, a hydroelectric power plant and a redundant ferro alloy plant.
Since leaving Stemcor David founded Veradamas Plc and Faktor Consulting. Veradamas is involved in trading, raw materials, mining and processing as well as project finance and development – both as a principal and as an agent. Verdamas secured a 3.45 billion tonne coal mining license in Pakistan, as part of a power plant, which was subsequently sold ,although David continues to act as Chairman of the company (Asia Power). He is also involved in project development in the steel and steel related industries through a company based in Bangalore, and this company has been successful in securing projects in Venezuela and India. Veradamas also has interests in gold projects in Armenia and Kyrgyzstan, where David has forged important links with the Kyrgyz National Gold Company and within Government ministries in Kyrgyzstan.
David has lived and worked in Iran, India, the Far East, Central Asia and London.
VALERIE KONDRITEVCHIEF EXECUTIVE OFFICER
Valerie is a graduate of the Polytechnic Institute of Irkutsk where he studied mechanical engineering. He also holds an MBA from the Russian Presidential Academy of National Economy and Public Administration. Valerie started his career in 1978, when he joined the Yakutalmaz diamond mining company, now known as ALROSA Ltd – one of the world’s largest diamond producers. He worked in the diamond industry for 15 years and from 2002 he has been the CEO of Almazintech, a consulting and engineering firm, where he has principally been involved in gold and diamond mining projects. He has been engaged in mining projects in Russia, Africa, South America and Central Asia. Almazintech has had an office in Kyrgyzstan since 2002.
ROBERT STUBBSCHIEF FINANCIAL OFFICER
Robert began his career in 1985 at Schroders as an assistant fund manager before moving to EF Hutton and Co Ltd as an account executive. He became Vice President at Prudential Bache Securities in 1991, then Senior Vice President at Ficon Capital Management where he set up their Middle East commodities and futures trading desk. Robert was director-designate in the Tehran office of British Aerospace Plc before taking the position of business development director at Middlesex Holdings plc, one of the first AIM companies to do business in Uzbekistan, Tajikistan and Russia, which specialised in steel, natural resources and agri-business. His responsibilities have also included corporate finance, corporate affairs, investor relations and public relations. He served as CEO and chairman of Minster Pharmaceuticals PLC and was a non-executive director of Cape Diamonds Plc and was involved in the flotation of both companies on AIM. He was the managing director of Curzon Corporate Finance Limited and business development manager for Castle Harbour Securities, a boutique financial firm offering a wide range of merchant banking services from offices in London, complemented by trading and advisory services in Bermuda.
Robert attended Durham University and is fluent in Farsi.
IAN SANDSNON-EXECUTIVE DIRECTOR
Ian is a chartered management accountant. He began his career at Ford Motor Company before joining Coopers & Lybrand as a senior management consultant. In 1987 he joined Natwest Stockbrokers as a finance director before moving to Natwest Investment services as Head of Finance in 1994. Ian became CFO of Lazard Capital Markets in 1995 after which the company’s revenue grew significantly. He was a general manager at Wiltshire Friendly Society before joining ABN Amro as COO. Ian left ABN Amro to start his own accountancy and consultancy business in 2005, before working for the National Health Service in various capacities from September 2008 until January 2016. Since 2017 Ian has been Finance Director of Prime Resort Development Ltd a company engaged in operating and developing resorts internationally and in the UK.