Andrey Kostin graduated magna cum laude in Political Economy from the Moscow State University in 1979. He also holds Ph.D. in Economics. Mr. Kostin started his career in the Russian Ministry of Foreign Affairs. He served in the USSR Embassy in Australia till 1982. From 1985 till 1990, he worked in the USSR Embassy in the UK.  

In 1992 Andrey Kostin was appointed Executive Director of the Russian Investment and Finance Company. In 1993 -1995 he worked as Deputy Head of Foreign Investment Department at Imperial Bank. In 1995 Kostin became First Deputy Chairman of National Reserve Bank.

From 1996 till 2002, Andrey Kostin served as Chairman of Vnesheconombank, Russia’s development institution.

Since 2002 Andrey Kostin has been holding the position of President and Chairman of the Management Board at VTB Bank.  He also serves as Vice Chairman of Board of Directors at major oil producer Rosneft.

In September 2011, Andrey Kostin was awarded with the Order for Services to the Fatherland III degree for “substantial contribution to the development of the financial sector” of Russia.