Ihor Olekhov’s career spans over 27 years of advising on the most complex, high-value financial transactions. For more than two decades, he led the Banking & Finance practice at the international law firm Baker McKenzie, and subsequently headed the same practice at CMS Cameron McKenna Nabarro Olswang. Most recently, he served as a Senior Partner at Altitude Strategy Partners and as a Strategic Advisor to Piraeus Bank ICB.
Ihor Olekhov specializes in a broad range of finance, banking and investment projects and transactions, as well as corporate governance, corporate reorganizations and financial regulation of banks, investment companies and asset managers, insurance and other financial companies, as well as capital markets deals.
The team’s extensive track record includes landmark transactions that have directly shaped the landscape of the Ukrainian financial system, including, among others, (i) advising Credit Agricole on its acquisition of Bank Lviv (2026), (ii) structuring a €350 million European Investment Bank (EIB) loan to Naftogaz, (iii) coordinating the complex restructuring of Ukrenergo’s $825 million sustainability-linked bonds.
Igor Olekhov has long-standing, close working relationships with key international financial institutions (IFIs), which are essential to major financing projects in Ukraine today: the EBRD, IFC, EIB, Poland’s BGK and KUKE, Korea’s KEXIM, Germany’s KfW, and the BSTDB. Specifically, he has implemented landmark projects with the EBRD, including bank capitalization projects and squeeze-out transactions; with the IFC, including the establishment of the energy efficiency fund and financing of energy sector companies; and with the EIB, including infrastructure credit lines, such as €50 million in financing for Unit Holdings.
In addition to his transactional experience, the head of the practice directly influences the evolution of the country’s financial legislation. For over 13 years, Ihor Olekhov has served as the Co-Chairman of the Banking & Financial Services Committee of AmCham Ukraine and previously chaired the Legal Committee of the EBA, actively shaping the regulatory landscape alongside the National Bank of Ukraine (NBU), the National Securities and Stock Market Commission (NSSMC), and key market stakeholders.
Legislative Work and Recognition
Legislative Development: Igor is a permanent member of working groups established to develop new legislation in Ukraine, including the Corporate Governance Code. He has actively contributed to the drafting of landmark legislative acts, such as the Law of Ukraine “On Currency and Currency Transactions,” the new Law of Ukraine “On Joint-Stock Companies,” as well as numerous banking laws and regulatory acts.
Co-Authorship: He is one of the co-authors of the Law of Ukraine “On Financial Restructuring” and the draft Law of Ukraine on asset management companies.
Sustainable Development: Igor has contributed to the development of ESG and sustainable lending frameworks for international lenders and investors in the Central and Eastern Europe (CEE) region.
Selected relevant experience includes advising:
Advising Credit Agricole on acquisition of Bank Lviv (2026).
Advised European Investment Bank on EUR 350,000,000 loan to Joint-Stock Company “National Joint-Stock Company “Naftogaz of Ukraine”” (2025-2026).
Advised the syndicate of international financial institutions (EBRD, IFC, and BSTDB) on EUR 157,000,000 loan to subsidiaries of GNG Group (Galnaftogaz/OKKO Group) for a 147 MW onshore wind farm project (2024-2025).
Advised the Polish Export Credit Agency (KUKE) and the Polish Development Bank (BGK) on major Ukrainian infrastructure: (i) Retroville Shopping Mall & Office Centre (Kyiv): Legal advisor on a €41.1 million financing granted by BGK and insured by the Polish export credit agency, KUKE; (ii) Nikolsky Shopping Mall (Kharkiv), including the standstill and revisions to the documentation in 2022-2025.
EBRD / Ukrenergo: advised the EBRD on its investment in a $825 million sustainability-linked bond (SLB) issued by Ukraine’s national power company, Ukrenergo, including the latest rounds of restructuring in 2024-2025.
KfW / Project Atlas: advised KfW on project finance documents relating to financing wind generation plants by Atlas Group (Onur Group) in Ukraine (2025).
European Investment Bank (EIB) on the EUR 50 million loan financing to be granted to Unit Holdings LLC for design and construction of selected components of an innovation campus, including a private non-profit IT education academy and multifunctional offices, as well as all supporting facilities and infrastructures Ceskoslovenska obchodni banka, a.s. on debt factoring matters in export-import transactions between major Ukrainian and Czech steel producers.
Export-Import Bank of Korea (KEXIM), the export credit agency of South Korea on a secured USD 36 million financing to Grain Terminal Holdings, a Singapore-based joint venture between Posco International (Korea’s largest trading company) and the Orexim Group (a leading agri trans-shipment and exporting company in Ukraine), that controls a Ukrainian grain terminal (MMW) based in Mykolaiv, Ukraine.
Black Sea Trade & Development Bank on EUR 31 million financing for the Orexim Group to modernize and expand the grain terminal in Mykolaiv and EUR 10 million secured facility to Impala Capital Limited, Cyprus.
ING Bank N.V. as a mandated lead arranger and bookrunner on (i) EUR 120 million financing of the acquisition of Perutnina Ptuj, (ii) USD 80 million pre-export finance facility to Vioil and its further one-year extension and increase to USD 100 million, (iii) USD 80 million pre-export finance facility for Nibulon, (iii) syndicated secured pre-crop and pre-export credit facility of up to USD 100 million for Kernel Group, Ukraine’s leading agribusiness, (iv) EUR 416 million loan to DTEK.
A syndicate of banks (including Black Sea Trade and Development Bank) led by ING and UniCredit as mandated lead arrangers on the extension and increase to up to USD 400 million of a pre-export credit facility to Ukraine’s Kernel Group.
V. Cargo on USD 74 million landmark financing from EBRD and IFC of a new grain terminal construction project in Yuzhni port.
A syndicate of banks on syndicated secured pre-crop and pre-export credit facility of up to USD 65 million for Kernel, Ukraine’s leading agribusiness.
International banks (in their capacity as security agent) in a USD 25 million agricultural pre-export financing for a Cyprus trading company of a Ukrainian agricultural holding within the frame of restructuring of their indebtedness, as well as advising banks as security agent and custodian in respect of an exchange offer to be made to the current holders of USD 470 million senior unsecured notes issued by the Group’s holding company.
BANK GOSPODARSTWA KRAJOWEGO (Poland) on a EUR 41.1 million construction financing of the shopping mall and office centre in Kyiv. The facility was insured by Korporacja Ubezpieczeń Kredytów Eksportowych S.A. (KUKE) :
- on the analysis of the new Ukrainian insurance regulations subject to insurance agents and brokers as well as client’s compliance with those regulations as well as review the template insurance agency agreement provided by the client
- on AgroInvest Misappropriation cases, involving white-collar, disputes and arbitration expertise
- on regulatory procedures and tax implications of repatriation of profits earned in Ukraine from the sale of insurance related services
Advised BOHAI Commodities Exchange regarding acquisition of a stake in PFTS, including the regulatory approvals (Antimonopoly Committee of Ukraine and the National Commission on Securities and Stock Exchange) and transaction documents (2018).
Advised Austrian investor regarding acquisition of minority stake in Alfa Bank (Ukraine) from existing shareholders and participation in the capital increase, including regulatory approval of the National Bank of Ukraine and transaction documents (2018).
Advised BNP Paribas and EBRD regarding squeeze out procedure for the purchase of the shares of minority shareholders in Ukrsibbank (2018).
Advised EBRD regarding options for the equity investment in Public Joint Stock Company “MEGABANK” (2017-2018).
Advised Eurobank Ergasias S.A., one of the largest banks in Greece, on the sale of Ukrainian subsidiary, Universal Bank, to one of the fast growing financial and industrial groups in Ukraine, TAS Group, owned by a Ukrainian businessman Mr. Sergiy Tigipko (2016).
Advising Autonomy Capital on the process of acquisition and regulatory approvals for acquiring bridge bank to be established by the Deposit Guarantee Fund on the basis of the assets of insolvent Kyivska Rus Bank (2015).
Advised the European Bank for Reconstruction and Development (EBRD), KfW Development Bank and the International Finance Corporation (IFC) in connection with the UAH 43.2 million additional capitalization of Megabank (Kharkiv) by retaining their shares in the Bank’s capital and issuing additional shares (2015).
Advised a group of Ukrainian investors on acquisition of NEOS Bank from the shareholders of Alfa Group (2015).
Advised Eurobank Ergasias S.A. in connection with entry into agreements with entities of the Ukrainian Delta Bank Group for the disposal of its Ukrainian subsidiary, Public Joint Stock Company “Universal Bank” and the transfer of certain Ukrainian assets for a total consideration of €95 million (2014).
Advised shareholders of PJSC “Alfa-Bank” (Ukraine) on its EUR 202.5 million deal with the Bank of Cyprus on acquisition of the Ukrainian assets of Bank of Cyprus, including its Ukrainian subsidiary – PJSC Bank of Cyprus, its Ukrainian loan portfolio and certain loans of the former Laiki Bank (Cyprus) (2014).
Advised several sellers, Horizon Capital and East Capital, on the sale of majority stake in Pt Platinum Public Limited, a holding company of Platinum Bank Ukraine, to a group of financial investors, including European Infrastructure Investment Company (2013).
Acting as legal counsel to Erste Group Bank in respect of sale of Erste bank, the subsidiary of Erste Group in Ukraine, to Fidobank Group (2013).
Acting as English and Ukrainian law counsel to a group of Ukrainian investors in respect of acquisition of SEB Bank PJSC, a subsidiary bank of Skandinaviska Enskilda Banken AB (publ), which is the holding company of SEB Group, one of the leading international financial groups headquartered in Sweden (2012).
Acting as legal counsel to TBIF Financial Services B.V. on a capital increase of VAB Bank, a significant Ukrainian bank and a substantial part of VAB Group, and the subsequent sale of a majority stake in VAB Bank and the companies of the VAB Group to a group of strategic investors (2011).
Advising a major Ukrainian corporate investment fund on the sale of an additional stake of 26.25% in the Bank Forum to Commerzbank (2010).
Acting as English and Ukrainian legal counsel to the minority shareholder of Joint Stock Commercial Innovation Bank UkrSibbank on the sale of its 24.5% shareholding in UkrSibbank to BNP Paribas Group, a European leader in banking and financial services (2009).
Advising with respect to the investment by KfW and EBRD into the equity of Public Joint Stock Company “MEGABANK”, as contemplated by the capitalization program of Megabank, which was adopted pursuant to the requirements of the National Bank of Ukraine. The legal work included, in particular, transaction structuring, full legal support and advice to the clients on all issues related to the acquisition of substantial shareholdings in Megabank, the preparation and negotiation of the transaction documents and their execution by the parties, and the successful closing of the transaction (2009).
Acting as the English and Ukrainian legal counsel to the controlling shareholders of the Joint Stock Company PRAVEX-Bank, one of the fastest growing Ukrainian retail banks, on the USD750 million sale of 100% of the Bank’s shares to Intesa Sanpaolo S.p.A., the Italian banking group, through a tender procedure (2008).
Advising BNP Paribas on the joint acquisition with AXA of two leading Ukrainian insurance companies, VESKO and Ukrainian Insurance Alliance, and subsequent integration of two Ukrainian insurance companies. The transaction marks the entry of one of the largest European insurance groups into the Ukrainian insurance market (2007).
Acting as the leading legal advisor to UniCredit Bank in connection with the landmark merger of two Ukrainian banks, the members of the UniCredit Group, by way of accession of HVB Bank Ukraine to UniCredit Bank. This is the first merger of major Ukrainian banks with foreign capital in the Ukrainian banking sector after the adoption of the new Banking Law in 2000. As a result of this transaction HVB Bank Ukraine transfers all its rights and liabilities to UniCredit Bank and two of the Group’s banks in Ukraine operates under a single brand of UniCredit Bank (2007).
DAI Global LLC on developing a comprehensive model for political violence risk and war risk insurance and reinsurance, both internationally and in Ukraine. Our expertise ensures robust and effective risk management solutions, addressing the unique challenges posed by political instability and war.
Willis Insurance Brokers LLC on providing strategic counsel regarding compliance measures necessitated by the newly enacted insurance legislation.
Chubb European Group SE on partnering with a one of the biggest European low-cost airlines to set up an additional channel for distribution of travel insurances to Ukrainian customers.
One of the largest international insurance groups in Central and Eastern Europe, with approximately 25,000 employees, on the due diligence of several Ukrainian insurance companies.
The largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries on obtaining a licence from the National Bank of Ukraine (the “NBU”) for settlements in foreign currencies in Ukraine under life insurance contracts.
PJSC Ukrainian Insurance Group on the merger by virtue of accession of its affiliated company and shares issue registration before the Securities and Stock Market Commission.
A leading insurance broker in CEE on the accession of SE “MAI Insurance Agents” as well as the transfer of the client’s portfolio and other databases.
UIB Holdings (UK) Limited on activities of its local representative office and its insurance brokerage arrangements with local insurers, including the fee structure.