The team of Avesta Investment Group consists of highly qualified professionals with solid local and international experience in financial markets. Members of our team have more than 50 years of combined past working experience with some of the leading financial institutions, such as Morgan Stanley (USA), Credit Suisse First Boston (USA), Deutsche Bank (Germany), KPMG (UK) and the National Bank of Uzbekistan. Top managers of Avesta Investment Group hold degrees from such leading international and local institutions as the Wharton School of the University of Pennsylvania (USA), Otterbein College (USA), University of Durham (UK) and Tashkent Financial Institute and Tashkent Transportation University.

Company’s specialists hold qualification certificates issued by the Capital Market Development Agency of Uzbekistan (CMDA), which enable conducting securities operations. We have an established network of relationships with preeminent financial, accounting, legal and engineering companies throughout the world that allows us providing tailor-made solutions on a competitive basis. Since 2008 we are the partner of NY-based brokerage company AuerbachGrayson, which is since 2017 is a part of Belton Financials and from 2020 of MNC Group.

Kodirjon Norov
Avesta Investment Group founder, IFG Capital board member, co-founder of Stolik App.

Kodirjon Norov is a founder of Avesta Investment Group, the leading investment advisory and capital markets firm operating in Uzbekistan and Turkmenistan since 2003. He is also a board member of IFG Capital. In 2013 he co-founded – an online food delivery service.

From 2002 to 2005 Mr.Norov headed the investment banking operations at the National Bank of Uzbekistan. From 2000 to 2002, he worked in Fixed Income Division of Morgan Stanley. Prior to that he was employed at Deutsche Bank and Credit Suisse. Mr. Norov is a graduate of the Wharton School of the University of Pennsylvania in 2000.



Rano Kosimova

Avesta Investment Group co-founder, consultant.

Rano Kosimova has experience in corporate finance and due diligence of the projects in textile industry, consumer goods and development of rare metals projects. She joined Avesta Investment Group in 2003 and acted as CEO until 2010. Rano lead the business development practice of the firm in Uzbekistan and Turkmenistan. From 2011 Rano is leading consultant of the company.

From 2012 to 2018 she worked as the Chief Business Development Officer in the leading recruitment and consulting firm in Uzbekistan «HR Capital Consulting». She is experienced in executive search and implementing of the best HR practices, personnel assessment and guidance on the local HR-laws of Uzbekistan for international clients.

From 1999 to 2004 Rano Kosimova worked as the Principal banker at the Project Finance Center of the National Bank of Foreign Economic Activity of the Republic of Uzbekistan.

Rano Kosimova graduated with honors from the Tashkent Finance Institute in 1999. She is a certified accountant -practice. She holds SHL certificates in Talent Management and Personnel Assessment.

Karen Srapionov

Partner of Avesta Investment Group, joined the team in 2006. Managing leading research department on the local market with dozen of public and client market and company reports and coverage in leading local and international mass-medias. Providing expertise in financial, insurance, construction materials, food processing industries.

Independent Board member of local companies, where providing the protection of minority investors rights. Chairing Board member of Society of Investment and Financial Analysts. Local expert for UNDP projects in social-economic and Islamic finance development. Certified Securities Market Professional by CMDA.

Graduated from Tashkent Transport University.


Shodlik Nazarov

Senior analyst for securities market

Joined the Avesta Investment Group in 2019. Covering market and equity research for constriction materials an industry sectors.

Graduated from Tashkent University of World Economy and Diplomacy. Certified Securities Market Professional by CMDA.





Evgeniy Mironov

Head of Brokerage, Director of ТАТ-Reestr LLC

Joined the team from 2012 year. Evgeniy have more than 20 years experience on securities market being one of the most experienced brokers and participants of Tashkent Stock Exchange. Independent non-executive Board Member of number of local companies.

Graduated from Tashkent Finance Institute. Certified Securities Market Professional by CMDA.