Early Life and Education
Bulat Zhamituly Utemuratov was born on November 13, 1957, in the Kazakh SSR. He graduated from the Faculty of Economics of the Almaty Institute of National Economy in 1981. His father worked in the judiciary, and his mother was an accountant.
Rise to Success
After Kazakhstan gained independence in 1991, Utemuratov was selected by President Nursultan Nazarbayev to seek economic opportunities for the country. He played a crucial role in brokering Kazakhstan's first line of credit with Bank Creditanstalt. In 1995, he co-founded the Almaty Trade and Finance (ATF) Bank and became its controlling shareholder by 2007. In 2007, Utemuratov sold ATF Bank to UniCredit Group for $2.3 billion, which was the largest transaction in the banking sector of the Central Independent States at the time.
Key Business Strategies
Utemuratov's business strategy has been characterized by diversification across multiple sectors. He has investments in the hotel sector, mobile phone companies (Kar-Tel and Sky Mobile), and the Burger King franchise in Kazakhstan. He has also shown a willingness to partner with international companies, such as Glencore, in the mining sector. His asset management company, Verny Capital, manages various projects.
Philanthropy
Utemuratov is actively involved in philanthropic activities through the Bulat Utemuratov Foundation, focusing on healthcare, education, disaster relief, and cultural development. The Foundation has invested over $200 million in various projects, including support for autism programs and disaster relief. He also supports Narxoz University and Haileybury International Schools.
