Nikolay Karpenko: The Renowned Herculis Group in Switzerland

Nikolay Karpenko

Nikolay Karpenko, a lawyer and financial executive, co-founded Swiss asset management firm Herculis Partners SA and is a key figure in the Swiss finance industry.

Table of Contents 

• Childhood and Early Aspirations 
• Professional Portfolio of Karpenko Nikolay 
• NikOil Tenure in the Spotlight: A Transformative Seven Years 
• Karpenko Nikolay: Studying in London 
• Herculis Group, Inspiration, and Creation  
• Nikolay Karpenko: Personal Life

Childhood and Early Aspirations

Nikolay Karpenko – founder of Herculis Group

Nikolay Karpenko, born on March 26, 1972, in the windswept city of Severomorsk within Russia’s Murmansk region, was shaped by the stark, unforgiving beauty of the Arctic. Raised in a household of intellectual rigor, with a father steeped in engineering and a mother versed in the precision of accounting, Nikolay Karpenko inherited a deep-seated curiosity and analytical mind, that reflected throughout his life.

The icy expanse of the North stirred a fascination in Karpenko Nikolay, an unrelenting desire to understand the ecosystems and climates that enveloped his world. Yet, his boundless curiosity didn’t stop at the Arctic’s edge. A yearning to explore life beyond the ice-laden horizon took hold of him early on. He realized that to reach beyond this isolated frontier, to connect with the unseen realms far away, he needed to master the tools of communication. It was this realization that ignited the passion that young Nikolay Karpenko had for private radio and the enigmatic language of Morse code—a gateway to distant voices and far-flung ideas that, despite the remoteness of his surroundings, he longed to reach.

By 1986, at the tender age of 14, Nikolay Viktorovich Karpenko had already begun charting the trajectory of his future with the precision of a seasoned strategist. Nikolay Karpenko envisioned not only the career he would pursue but also the prestigious institution where he would cultivate the expertise to achieve his ambitions. In this pivotal period of his biography, Nikolay Karpenko first heard of the Moscow State Institute of International Relations (MGIMO), a beacon of diplomatic excellence. Intrigued and determined, Karpenko Nikolay set out on a quest for knowledge. As this was the day before the internet, his only recourse was the local library, a treasure trove of information for those willing to sift through its archives.

With an intensity that would later define his career, Karpenko Nikolay scoured the shelves, poring over brochures and documents relating to MGIMO. His infamous deep dive into those dusty volumes culminated in a resolute decision: he would become a renowned diplomat. The allure of traversing the globe, coupled with the noble mission of serving his homeland, became his guiding light. From that moment forward, Karpenko Nikolay’s path was clear—a future shaped by international relations, diplomacy, and the promise of a life far beyond the frozen landscapes of Severomorsk.

In 1989, Nikolay Viktorovich Karpenko stood on the brink of achieving his long-held dream of gaining admission to MGIMO, a prestigious institution known for shaping the diplomatic elite. Confident in his exemplary high school grades, Karpenko Nikolay believed his academic prowess would enable him to navigate the institution’s rigorous selection process. However, the reality proved to be more formidable than he anticipated, as admission required overcoming a series of state-organized exams designed to distinguish the exceptional from the merely competent. Despite his impressive academic record, Karpenko Nikolay Viktorovich fell short of the institution’s lofty expectations, a setback that, while disheartening, did not extinguish his determination. Recognizing the high standards he needed to meet, Karpenko Nikolay chose to step back and recalibrate, seeking employment to gain practical experience while intensifying his studies. Resolutely committed to retaking the exam, he viewed this setback as merely a temporary detour on his path to becoming one of the nation’s future diplomats.

During his academic hiatus, Karpenko Nikolay Viktorovich found himself working as an electronics technician at a television and radio repair facility. Simultaneously, he immersed himself in preparatory courses, resolute in his mission to conquer the MGIMO entrance examinations. A year later, armed with newfound knowledge and confidence, Karpenko Nikolay re-entered the fray. Yet once again, fate proved unforgiving. This time, however, the margin of failure was agonizingly narrow—just three points shy of the required mark.

In 1991, Karpenko Nikolay Viktorovich redirected his academic ambitions toward a more attainable university, where his brother had graduated, and began his law studies in 1991, finding a new outlet for his intellectual curiosity and ambitions. By 1994, Karpenko Nikolay Viktorovich made a notable impact by joining the Young Lawyers Union of Russia, connecting with some of the nation’s top legal minds. Karpenko Nikolay graduated with honors in 1996, ready to enter the professional arena. However, his relentless pursuit of knowledge led him back to academia in 1999 at Lomonosov Moscow State University for post-graduate studies, culminating in a PhD in Political Science in 2002, which further solidified his expertise and opened new opportunities in law and international relations.

Professional Portfolio of Karpenko Nikolay

• 1996-1997 – Stins Coman Corp (Legal Practitioner)

• 1997-1998 –   NikOil Investment Company (Legal Practitioner for International Operations)

• 1998-1999 –   Rodina Joint Stock Commercial Bank (Law Expert)

• 1999-2000 – NikOil Investment Banking Group (Legal Practitioner)

• 2000-2001 – NikOil Investment Banking Group (Head of Tax Consulting Office)

• 2001-2003 – NikOil Investment Banking Group (Vice-President of Sales)

• 2003-2005 – NikOil Investment Banking Group (Senior Vice-President, Head of Sales)

• 2005-2006 – Uralsib Private Bank (Front Offices Director)

• 2006-2009 – Uralsib Private Bank (CEO)

• 2009-2010 – Uralsib Private Bank (CEO, member of the Board of Directors)

• 2009-             Founder, Board Member, Managing Partner of Herculis Group

NikOil Tenure in the Spotlight: A Transformative Seven Years

Nikolay Karpenko – co-founder of Herculis Group

In September 1997, Nikolay Karpenko began a transformative journey in his professional life when he joined NikOil Investment Company as a junior legal practitioner in the International Operations Department. Over seven years, he showcased exceptional legal acumen, rapidly advancing through the ranks and significantly contributing to the company’s growth. In 1999, as NikOil Group established a private bank, Karpenko Nikolay was appointed as a tax lawyer at the newly formed NikOil Investment Bank, leveraging his previous two years of legal experience in international corporate law. Karpenko Nikolay Viktorovich’s expertise in tax law became foundational to the bank’s legal operations, facilitating his seamless transition into this pivotal role.

Karpenko Nikolay Viktorovich’s impact was nothing short of extraordinary. Within a single year, his deep grasp of taxation issues, combined with his ability to craft innovative legal strategies, earned him a promotion to Head of the Tax Department. With this new role in his biography, Nikolay Karpenko was at the forefront of tax consulting for the bank, where he implemented policies that optimized the institution’s tax position, mitigated financial risks, and ensured full compliance with ever-evolving tax regulations.

Nikolay Viktorovich Karpenko’s swift rise didn’t stop there. His leadership in the tax department set the stage for a rapid and systematic ascent within the bank’s executive ranks. By 2001, Nikolay Viktorovich Karpenko’s unique leadership style and strategic insights led to his appointment as Vice President of Sales, where he oversaw critical aspects of the private bank’s client acquisition strategies. Karpenko Nikolay Viktorovich’s ability to combine his legal expertise with sales leadership paved the way for further success, culminating in his eventual promotion to Senior Vice-President and Head of the Sales Department. In this role in his biography, Nikolay Karpenko not only expanded the bank’s clientele but also positioned NikOil as a formidable player in the investment banking arena.

In 2005, a pivotal moment occurred in Nikolay Viktorovich Karpenko’s career when the operations of the NikOil private bank were officially transferred to the Uralsib Asset Management. With his exceptional track record and proven leadership at NikOil, Karpenko Nikolay was among the key personnel integrated into Uralsib Private Bank. He was swiftly appointed Director of the Front Office, a role that entrusted him with overseeing client relations, operational efficiency, and business development.

Karpenko Nikolay Viktorovich’s performance in this role was nothing short of exemplary, and it wasn’t long before his leadership and strategic vision were recognized. By April 2006, just a year after his appointment as Director, he ascended to the prestigious position of Chief Executive Officer (CEO) of Uralsib Private Bank. As CEO, Karpenko Nikolay Viktorovich played a critical role in steering the bank through a period of significant growth and consolidation, enhancing its presence in the Russian financial market.

Karpenko Nikolay: Studying in London

Nikolay Karpenko at work

In 2007, Nikolay Viktorovich Karpenko, while serving as CEO of Uralsib Private Bank, felt the need to expand his expertise in the global financial arena. His interest was piqued by the London-Dubai Executive MBA Program at the London Business School, a program designed to merge Western business insights with Middle Eastern economic dynamics. Eager to further bolster his biography, Nikolay Karpenko and his wife traveled to Dubai, where he attended an open house and took part in the selection process for admission. His desire to complement his practical experience with formal business education underscored his commitment to personal and professional growth, despite the heavy demands of his executive role.

In 2008, Karpenko Nikolay was accepted into the program and began his studies on a part-time basis. The rigorous schedule required him to spend one week each month in Dubai for immersive coursework, while the remaining three weeks were devoted to managing his responsibilities as a top manager. This balancing act between his academic ambitions and leadership of a major financial institution demonstrated the dedication of Karpenko Nikolay to continuous learning and his belief in the importance of education for advancing in the business world.

Despite facing the significant challenge of a limited command of English, Nikolay Karpenko pursued his MBA at the London Business School with unwavering determination, driven by his desire for a Western approach to business. In an interview, he humorously recalled his initial struggles, saying, “The first months were shocking. My English was not up to par, but I needed this education.” Yet, through perseverance, he learned to structure and interpret complex business information in a foreign language. Nikolay Viktorovich Karpenko graduated with above-average grades, equipped with invaluable knowledge and insights that would fuel his success in the global business arena.

Herculis Group, Inspiration, and Creation

Nikolay Karpenko – Financial asset manager

In 2009, while balancing his MBA studies and the Uralsib CEO role in his biography, Nikolay Karpenko and Swiss national Jean-Paul Périat, sharing a vision for creating a dynamic management firm, established Herculis Partners SA in the Swiss town of Porrentruy. This marked the beginning of a fruitful business partnership. With the help of Périat’s existing connections, the fledgling company was able to swiftly build momentum. 

Just a month after his business school graduation, in August 2010, Nikolay Viktorovich Karpenko made the bold decision to resign as CEO of Uralsib Private Bank. While ending his professional association with this Russian financial institution, he also ended all Russian business connections within his biography. Nikolay Karpenko thus concluded the period of his career involving Russian banking, but new global ambitions were on the horizon for the accomplished executive.

By May 2010, Herculis Partners SA had already secured membership in the prestigious Asset Management Association Switzerland, a self-regulatory body—an impressive achievement for such a company with such a young biography. Nikolay Karpenko highlights that this milestone not only enhanced their credibility but also attracted a wave of affluent and high-profile clients, solidifying Herculis Partners as an emerging force in Switzerland’s financial management industry.

Herculis Partners SA, initially focused on managing the international portfolios of its clients, rapidly expanded its range of services to include comprehensive portfolio management. As the company’s operations grew in scale and complexity, Nikolay Karpenko and his co-founder recognized the need to mitigate legal risks associated with financial asset management. To address this, they established a separate company dedicated to the secure storage of high-value assets such as gold bars. This trust company founded with the Nikolay Karpenko biography further solidified its position by obtaining licenses from the national customs service to store precious stones and fine art, elevating Herculis Partners’ reputation as a premier asset management company in alternative investments.

Despite the remarkable success of his partnership in Herculis Partners SA, Nikolay Karpenko was far from complacent. Immersing himself fully in the firm’s growth and alternative investments strategies, he achieved a significant milestone by becoming a certified professional trust manager. His expertise was further recognized through his membership in the prestigious Society of Trusts and Estate Practitioners (STEP), an international organization for experts in inheritance and succession planning. Today, Karpenko Nikolay explains, Herculis Partners SA boasts a workforce of dozens and has expanded its presence across Switzerland, with notable offices in major cities, including Zurich, the country’s financial hub.

Switzerland is renowned for its long-standing neutrality, stability, and financial expertise, making it an ideal location for establishing an asset management firm. In an interview, Nikolay Karpenko explained that Switzerland’s peace and stability make it a particularly favorable place to handle financial investments and asset security. For Nikolay Karpenko, the choice to set up in Switzerland was straightforward, given the country’s political stability, favorable business environment, access to venture capital and private equity, ease of doing business, and its strategic location in the heart of Europe.

Nikolay Karpenko: Personal Life

Nikolay Viktorovich Karpenko actively engages in self-development by learning new languages, particularly English, French, and German, to enhance his career prospects. Nikolay Karpenko enjoys an active lifestyle, partaking in swimming and hiking, and has a deep appreciation for art history. While he takes pride in his entrepreneurial journey and is dedicated to his working biography, Nikolay Karpenko maintains a balanced approach to life.