A Legacy of Excellence and Partnership
Founded in 1995, Tansar Capital has established exclusive partnerships with leading international funds and investment companies. Our approach is to provide investors with access to confidential and sought-after opportunities.
Our independent position, unaffiliated with financial or industry organisations, allows us to react promptly and flexibly to changes in the market and make decisions quickly and efficiently.
Our advantages
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Individual approach and comprehensive solutions
Global reach, local understanding
Technological solutions
Education and expansion of knowledge of markets
Commitment to governance, responsibility and ESG
With a one-stop-shop philosophy, we cater to our clients' individual financial needs. We provide brokerage, investment banking and asset management services, ensuring a seamless and integrated execution process.
By leveraging partnerships with giants such as Goldman Sachs, Barclays, Hamilton Lane and Grosvenor Capital Management, we offer our clients unparalleled access to global markets while maintaining a deep understanding of local market dynamics.
Our company offers clients investment products based on global technological advances, such as access to artificial intelligence funds, electronic currency trading (eFX) and algorithmic index trading.
Through initiatives such as Tansar University, we endeavour to empower our customers and employees with knowledge, fostering a culture of informed decision-making and continuous learning
We strive to protect the interests of our clients by emphasizing transparency, accountability, and promoting financial stability in accordance with the Santiago Principles. We are committed to ethical investment practices that promote economic development and sustainable environmental and social impacts.
Explore a partnership with Tansar Capital, where integrity meets innovation, and every financial solution is built on a foundation of trust and excellence
Our Values
Tansar Capital is driven by values that not only define who we are, but also guide every aspect of our work and interactions with clients, partners and society at large
Board of Directors
Yeszhan Birtanov
Chairman of the Board of Directors
Member of the Board of Directors - Chairman of the Management Board
Yerzhan Agibayev
Independent Director
Member of the Board of Directors
Zhangali Dadebayev, PhD
Member of the Board of Directors - Independent Director
Kairat Amantayev
Yerzhan Agibayev
Mr. Agibayev has over 20 years of experience in the financial sector.
He has held various positions in the National Bank of Kazakhstan, banks, management companies, including management positions.
Zhangali Dadebayev
Mr. Dadebayev is a seasoned professional with over 10 years of experience in the financial industry. His tenure includes notable positions at esteemed institutions such as National Bank of Kazakhstan
National Investment Corporation of the National Bank of Kazakhstan
RFCA Rating Agency
Zhilstroisberbank of Kazakhstan
AIFC Administration (Astana International Financial Center)
Yeszhan Birtanov
Mr. Birtanov has more than 25 years of experience in the securities market - a participant in the process of creating the National Fund of the Republic of Kazakhstan with the use of management mechanisms and experience of developed countries.
At various times he has held the positions of the Head of National Investment Corporation of the National Bank of Kazakhstan JSC, Managing Director of National Management Holding Baiterek JSC, Advisor to the Chairman of the National Bank of Kazakhstan, Deputy Chairman of the National Bank of Kazakhstan, Chairman of the Management Board of Kazakhstan Stock Exchange JSC (KASE).
Kairat Amantayev
Mr Kairat Amantayev has over 18 years' experience in the financial sector. He has held various positions in banking, including:
Alliance Bank JSC
Eurasian Bank JSC
Capital Bank Kazakhstan JSC.
He has extensive experience in treasury and asset management.
Zhalgas Kulunchakova
Deputy Chairman of the Board
Has more than 20 years of experience in organizing and managing the legal service as the head of legal departments in companies that are professional participants in the securities market of the Republic of Kazakhstan. Provided legal support for the full cycle of activities of such companies: from registration as a legal entity, licensing in the authorized body, maintaining the company's activities in accordance with the requirements of the law. Has extensive experience in supporting M&A transactions, the process of issuing securities, restructuring of individual companies, securitization transactions. Held senior positions in such investment companies as Halyk Finance, Gold Investment Group, Privatе Asset Management, ASYL INVEST, Investment Financial House RESMI. Has teaching experience at the University of International Business, L.N. Gumilyov Eurasian National University, Nazarbayev University.
Erulan Mustafin, PhD
Managing Director
Doctor of Mathematics from the University Claude Bernard – Lyon 1, France. He has academic and teaching experience at universities in France and Canada. He has more than 15 years of experience in the financial sector. His deep knowledge in the field of mathematical methods, modeling and research was obtained in such companies as Title Trading Services Inc (Montreal, Canada), Halyk Finance, National Investment Corporation of the National Bank of the Republic of Kazakhstan, and the National Bank of the Republic of Kazakhstan.
He is an expert in economic, financial and data analysis. He has experience in developing investment strategies and publishing research papers in prestigious journals on mathematics, investment and banking.
Gulmira Ospanova
Chief accountant
Professional accountant of the Republic of Kazakhstan.
She began her career in the banking sector. For more than 6 years, she worked as the Head of the Pension and Own Assets Department at the Accumulative Pension Fund of the People's Bank of Kazakhstan. She worked on a project to automate and implement software for accounting of pension assets at the NPF of the People's Bank of Kazakhstan.
Has over 20 years of experience in the financial sector.
In the securities market, she worked in management positions in companies such as JSC VISOR Investment Solutions, JSC Asia Broker Services, and JSC Freedom Finance.
She held various positions in energy, audit, trading and management companies, including management.
Management
Yerzhan Agibayev
Chairman of the Management Board
Deputy Chairman of the Management Board
Zhalgas Kulunchakova
Deputy Chairman of the Management Board
Aidos Mussatayev
Deputy Chairman of the Management Board
Assel Umiraliyeva
Yerzhan Agibayev
Mr. Agibayev has over 20 years of experience in the financial sector.
He has held various positions in the National Bank of Kazakhstan, banks, management companies, including management positions
Zhalgas Kulunchakova
Has more than 20 years of experience in organizing and managing legal services as the head of legal departments in companies that are professional participants in the securities market of the Republic of Kazakhstan. Provided legal support for the full cycle of activities of such companies: from registration as a legal entity, licensing in the authorized body, maintaining the company's activities in accordance with the requirements of the law.
Aidos Mussatayev
Mr. Mussatayev has over 15 years of experience in the financial sector (Zurich Invest Management JSC, CAEC JSC, NGSC KazStroyService JSC, Baitak Finance LLP, Tron Capital JSC, Sanity Capital Ltd.).
He has knowledge and experience in trading, securities and investment management.
Assel Umiraliyeva
With the company Since 2022, where he holds the position of Deputy Chairman of the Management Board. Responsibilities include risk management, formation and implementation of the compliance program.
Deputy Chairman of the Management Board
Yelizaveta Chernetskaya
Yelizaveta Chernetskaya
Experience in the financial system - 17 years. She began her career in the securities market in 2014 in risk management. From 2014 to 2022, she held the positions of head of risk management and compliance control. The main tasks and achievements were the organization of the risk management department in management companies and funds, as well as raising the level of risk culture.
Has been working in the securities market since 2001. Has extensive experience, including in management positions in leading investment companies in Kazakhstan.
Financial Director
Sholpan Bakbaeva
Sholpan Bakbaeva
In the Company Since 2022, where he holds the position of Financial Director. Professional accountant of the Republic of Kazakhstan. Oversees the activities of the Accounting and Reporting Department. Has over 19 years of experience in the financial sector. In the securities market since 2010. Has extensive experience, including in management positions in leading investment companies in Kazakhstan.
Investment team
Ерулан Мустафин, PhD
Управляющий директор
Head of Asset Management Department
Dana Kurmanbaeva, CFA
Head of Trading Department
Murat Zhitibaev
Erulan Mustafin
Doctor of Mathematics from the University Claude Bernard – Lyon 1, France. He has academic and teaching experience at universities in France and Canada. He has more than 15 years of experience in the financial sector. His deep knowledge in the field of mathematical methods, modeling and research was obtained in such companies as Title Trading Services Inc (Montreal, Canada), Halyk Finance, National Investment Corporation of the National Bank of the Republic of Kazakhstan, and the National Bank of the Republic of Kazakhstan.
Dana Kurmanbaeva
Brings over 10 years of experience in the field of alternative investments. Engaged in constructing portfolios of alternative investments (hedge funds) at the SWF of Kazakhstan, National Investment Corporation of the National Bank of Kazakhstan.
Possesses extensive experience in conducting investment, operational due diligence and selecting hedge fund managers.
Also has experience in trading on the stock market
Murat Zhitibaev
Mr Zhitibayev has extensive knowledge and experience in liquidity and portfolio management, local and international brokerage, and the application of valuation models to company analysis.
He has a deep understanding of analysing and assessing the financial condition of issuers - and has extensive experience in preparing analytical reports and opinions. He gained this experience while working in senior positions at financial companies such as Centras Securities JSC, Capital Bank Kazakhstan and First Heartland Jusan Bank
Advisor to Chairman of the Management Board
Nazym Azimbayev
Nazym Azimbayev
Mr. Azimbayev has held various positions in technology and investments at the National Bank of Kazakhstan, including Advisor to the Chairman, Head of FinTech and Member of the Management Board. He led initiatives on development of fintech in Kazakhstan, transformation of the National Bank of Kazakhstan in the area of digital technologies and data management.
He served as Chief Investment Officer and Board Member of the National Investment Corporation of the National Bank of Kazakhstan and has more than 10 years of investment experience in developed markets.
Madina Esalieva
Deputy Director of the Asset Management Department, PM of the KFGD fund
She has 10 years of experience in the National Bank as a portfolio manager, both in the domestic market (trust management of the KGD Fund, the State Social Insurance Fund and other funds) and in the foreign market (sub-portfolios in Korean won, Japanese yen). She took an active part in the implementation of the state's priority right to purchase domestic gold from producers.
Andrey Kim, PhD
Advisor to the Chairman of the Board
Andrey Kim
Cryptography and mathematics specialist with experience at Altbridge, Samsung Advanced Institute of Technology, and New Jersey Institute of Technology. He holds a PhD in Mathematics from Seoul National University. He is actively involved in research on homomorphic encryption schemes and their application in various fields. He has published numerous scientific papers and holds patents in the field of cryptography. He is fluent in several languages ​​and has extensive knowledge of programming and applied mathematics.
Madina Esalieva
Head of Corporate Finance Department

Zhuldyz Zharkenova

Zhuldyz Zharkenova

Mrs. Zharkenova has more than 9 years of experience in investment banking - DCM&ECM (Halyk Finance JSC, BCC Invest JSC).
She has extensive experience in structuring, organising and executing transactions on local and international debt and equity capital markets.
She has extensive experience in structuring, organising and executing transactions in local and international debt and equity capital markets. She has participated in arranging financing through such transactions as IPO/SPO, numerous Eurobond and local bond issues, securitisation and private placements.
Corporate governance
Gulmira Ospanova
Chief accountant
Director of the Back Office Department
Zhamilya Aitbaeva
Managing Director
Kulyash Zhusupova
Gulmira Ospanova
Professional accountant of the Republic of Kazakhstan. Has over 20 years of experience in the financial sector. She began her career in the banking sector. For over 6 years, she worked as the Head of the Pension and Own Assets Department at the Accumulative Pension Fund of the People's Bank of Kazakhstan. She worked on a project to automate and implement software for accounting of pension assets at the NPF of the People's Bank of Kazakhstan.
Zhamilya Aitbaeva
Over 17 years of experience in the securities market. As a back office manager in management companies since 2014.
Kulyash Zhusupova
Candidate of Physical and Mathematical Sciences, Doctor of Pedagogical Sciences in the field of management in education
Azhar Ibraeva
Director of the Middle Office Department
Work experience – 6 years in the securities market. She started her career in the securities market in 2018 in risk management. She also has experience in compliance control.
Gulnara Dunaeva
HR-Head
Gulnara Dunaeva
Lawyer by education, over 25 years of experience, including over 12 years in the financial sector. Has been working as an HR manager since 2017. Has been with Tansar Capital JSC since 2023.
Azhar Ibraeva
Work experience – over 25 years in the banking sector, including in a managerial position. Work with corporate clients, VIP clients, sales, implementation of new banking products, preparation of management reports on financial indicators. Since 2005, she held the positions of manager, and then director of the central branches of JSC Bank CenterCredit. In the securities market for over 3 years, in the field of risk management.
Gulnaz Zhauarova
Gulnaz Zhauarova
Director of Risk Management Department
Has over 7 years of practical experience in assessing and managing financial risks, data analysis, financial analysis, developing and implementing successful risk management policies in banks and investment companies. Specializes in automating risk management processes and generating reports (including using BI systems).
Dana Zerekbaeva
Dana Zerekbaeva
Deputy Director of the Risk Management Department
Marina Rakhmetova
Director of Internal Audit Service
Head of the Company's Internal Audit Service since 2021.
Marina Rakhmetova
Experience in the IT field for over 12 years. Participated in various projects for the development and advancement of information systems. Held various positions in subsidiaries, as well as in the Central Office of the National Bank of the Republic of Kazakhstan.
Timur Magzumov
Timur Magzumov
Director of the Department of Information Technology
She has extensive experience in higher education and the financial sector, and held the positions of head of internal audit, managing director for compliance control and risks, deputy chairman of the board, and chairman of the board in a brokerage/management company.
In 2013 she was awarded the public medal "Best Financier".
Experience in the securities market in leading investment companies of the Republic of Kazakhstan from 2007 to the present. Since 2010, she has held management positions: in accounting of client assets and own assets in management, in risk management and compliance control, in the field of internal audit.
Financial statements
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Contacts
19/1, Al-Farabi ave., «Nurly Tau» Business Center, Block 3B, 7th floor, Almaty, А15Е2Т5
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2024 JSC “TANSAR CAPITAL”.
The Company does not guarantee profit or absence of loss when trading in securities. The Client is aware of the risks inherent in securities trading and has the financial ability to take such risks and accept any losses incurred in connection therewith.
The Company shall not be liable for any losses resulting from investments made on the basis of any recommendations, forecasts, reviews and other information.
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