Rubin Vandaryan stated that Troika Dialog through Avtoinvest and Kamaz-Capital had the controlling stake in KamAZ. Since 2008, Troika Dialog was the nominal owner of AvtoVAZ and KamAZ for the beneficial owner Sergei Roldugin. Troika Dialog has been privately owned by 109 employee partners. In March 2009, the company announced a strategic alliance with Standard Bank Group under which Standard Bank will become a 36% shareholder in Troika Dialog. In March 2011, Sberbank agreed to acquire Troika Dialog for US$1 billion, through the purchase of a 63.6 percent stake held by a shareholder group led by Ruben Vardanyan, and a 36.4 percent stake held by South Africa's Standard Bank. In 2012 the brokerage firm has been acquired by Russia's biggest bank, Sberbank, for US$1bn and continued operation as a part of its investment banking division. Troika Laundromat Also known as ŪkioLeaks, Troika Laundromat was a collection of 70 offshore shell companies whose controllers used them to move billions of dollars of private wealth from Russia to the west. About $4.6bn was paid into the Troika network, and a similar sum was paid out of it. It was operated by staff at an independent arm of the Russian investment bank Troika Dialog, which has now been merged with one of Russia's two big state-owned banks. The network was like a washing machine: money arrived from many sources. Most transfers were at Lithuania's Ukio Bank, closed by the authorities in February 2013. Operations Capital markets Equities. The company is active in Russian equity sales and trading. Fixed Income. The company is an operator on the secondary ruble bond market and participant in the secondary Eurobond market. The company provides its clients with custody and clearing services for debt instruments, including settlement and clearing facilities DVP Euroclear. Derivatives and Structured Products. The company, as the founding trading member of the RTS-FORTS index futures, continues to develop its role in the Derivatives marketplace. Treasury. The company Treasury's key line of activity is hedging currency, interest rate and commodity risks faced by clients. Research The company's analysts actively monitor over 300 companies. Investment banking The company provides M&A services, including mergers, sell and buy-side advisory, leveraged buyouts, joint ventures, strategic alliances, and fairness opinions. It provides clients with services including arranging and leading primary bond issues and secondary market trading and in-depth Fixed Income market research. Troika has managed and been involved in transactions by