Equipped with the expertise of its European founding companies, C-Quadrat Ampega manages pension and investment funds for more than 10 years.

C-Quadrat Ampega is a trusted name in the world of investments. The company serves pension system participants, institutional and private investors.

Other focus areas of the company include social investing and contribution to public financial awareness.  

Our mission

To offer top-quality asset management services to private and institutional investors and pension system participants in line with the best international standards and modern practice.

  • 2013

    C-Quadrat Ampega starts operating in Armenia.

  • 2019

    C-Quadrat Ampega launches CQ Armenia Growth investment fund.

  • 2023

    C-Quadrat Ampega launches CQ Social investment fund.

  • 5

    5 funds for institutional and private investors and pension system participants.

  • ֏ 400B+

    AMD 400B+ Assets under management in all funds․


C-Quadrat Ampega was founded in 2013. The company is a joint venture between CQ Investment Group, Austria, and Ampega Asset Management, Germany, a member of Talanx Group. C-Quadrat Ampega is a member of CQ Investment Group. 

CQ Investment Group is a group of asset management companies that specialize in quantitative strategies, ESG, and impact investing. Additional business areas are private debt and alternative investments. Founded in Vienna in 1991, CQ Investment Group operates in more than 20 countries.

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Ampega Asset Management and Ampega Investment manage Talanx Group's assets in the money, capital, and real estate markets. Based in Hannover, Germany, Talanx Group is one of the largest insurance companies in Europe and operates in more than 175 countries.

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Arman Vardanyan, PhD
Chief Executive Officer

Arman Vardanyan is a seasoned executive in asset management with 30 years of experience in emerging and frontier markets.

Presently, as the CEO at CQ-Ampega Asset Management, Arman Vardanyan focuses on facilitating the implementation of best international practices in asset management. He advocates for innovative and shared value approaches in transforming traditional capital markets.

Previously, Arman Vardanyan held various executive positions related to Financial Markets Operations at the Central Bank of Armenia. Later, he extended his domain of expertise in investment management into commercial banking. Having accumulated vast experience in asset management, he was invited to support microfinance and impact investing establishment by Impact Asset Management GmbH (CQ Investment Group company) in Vienna. Currently, he oversees the investments of the Vision Microfinance funds in more than 60 countries.

Arman Vardanyan holds an MBA from the Carlson School of Management, University of Minnesota, and WU Vienna University of Economics and Business. He holds a Ph.D. in Economics from Yerevan State Institute of Economy and has published numerous articles on transaction cost economics, new institutional economics, capital markets, and microfinance.

Isabella Adilkhanyan, CFA
Chief Financial and Operating Officer

Isabella Adilkhanyan is an experienced executive with over 20 years of career in the financial industry.

As the Chief Financial and Operating Officer at CQ-Ampega Asset Management, she fosters the financial and organizational growth of the Company. She is committed to driving innovation in the local financial market and advocates the adoption of the best ethical standards by industry players. Believing in the power of knowledge and seeking a wider impact, Isabella Adilkhanyan lectures at the American University of Armenia.

Before joining CQ-Ampega Asset Management in 2015, she held various positions in local financial institutions.

Isabella Adilkhanyan holds a Bachelor's degree in Economics and a Master’s in Finance from Yerevan State University. She is a CFA Charterholder and a CFA Institute Member.

Gagik Grigoryan, FCCA, CIA, CISA
Chief Internal Auditor

Gagik Grigoryan has more than 15 years of experience in the financial sector. Between 2008 and 2010, Gagik worked as an economist in Armenian Software. In 2010, he joined Grant Thornton's audit department and continued his career at Grant Thornton Consulting, initially as a senior consultant and later as a senior manager.

Gagik joined C-Quadrat Ampega Asset Management in 2015.

Gagik has CIA (Certified Internal Auditor) and CISA (Certified Information Systems Auditor) qualifications. He is a member of the Institute of Internal Auditors, as well as a certified member of the Association of Chartered Certified Accountants (ACCA). Additionally, he is a member of the Project Management Institute and a qualified Project Management Professional (PMP).

He earned his Bachelor’s degree in Economics from the Armenian State University of Economics and a Master's in Finance from the Armenian-Russian Slavonic University. Since 2023, Gagik has been a board member of the Institute of Internal Auditors of Armenia.  


Arman Kirakosyan
Fund Manager

Arman Kirakosyan has more than 15 years of experience in the financial sector. He started his professional career in 2008 as a specialist in the Financial Markets Operation Department of the Armenian Development Bank as a leading specialist. From 2011 to 2017, Arman worked at VTB Bank Armenia as a chief specialist of the Financial Markets Operation Division, Treasury.

Arman joined C-Quadrat Ampega Asset Management Armenia in 2017.

He holds a Bachelor’s and Master’s degree in Management and Economics of Enterprises from the State Engineering University of Armenia. 


Petros Margaryan, CFA
Fund Manager

Petros Margaryan is an investment professional with experience in asset management, investment banking, and consulting in Armenia and Europe. Petros was a financial analyst at C-Quadrat Ampega Asset Management Armenia in 2018. Later, he worked as a fintech analyst at McKinsey & Company in Hungary and continued his professional career at Dimension Investments as a financial analyst, after which he was promoted to investment banking associate.

He is teaching finance at the American University of Armenia.

Petros graduated from the American University of Armenia in 2019 with a Bachelor’s degree in Business. He holds a Master of Science in Finance degree from Central European University.

He is a CFA Charterholder and a CFA Institute Member.

Ignat Frangyan, CFA
Risk Manager

Ignat Frangyan has over 10 years of experience in the financial sector. 

Between 2012 and 2018, Ignat worked in Ameriabank's ALM department. In 2018, he joined VTB Bank Armenia and worked in the risk management department. Ignat joined C-Quadrat Ampega Asset Management in 2019 as a risk manager. 

He earned his bachelor’s degree in business management from the Armenian State University of Economics.  

Ignat is a CFA Charterholder and a CFA Institute Member.  

Artur Harutyunyan
Chief Accountant

Artur Harutyunyan has over 25 years of experience in accounting, audit, and consulting in the private and public sectors.  He has long teaching experience in accounting and audit in several institutions in Armenia. From 1998 to 2003, Artur was actively engaged in the accounting and audit sector reforms in Armenia as the Head of the Accounting and Audit Methodology Department of the Ministry of Finance and Economy of Armenia. 

Since 2002, he has been a Board member of Accountants and Auditors of Armenia (AAAA) and the Chairman of the Education and Qualification Committee. In 2014, he was elected as the Vice-Chairman of AAAA. Being the Chairman of the Licensing Committee of the Ministry of Finance and Economy of Armenia, Artur was also involved in licensing audit organizations.

In 2011-2012, Artur authored the accounting plans and instructions for implementing IFRS for SMEs and other companies in Armenia.

Artur received a Master's degree in Finance, Accounting and Audit from the Armenian State University of Economics in 1995. 


Ernst-Ludwig Drayss
Chairman of the Supervisory Board

Ernst-Ludwig Drayss has more than 40 years of experience in the financial sector. In his professional career his sphere of activity ranged from leading functions in financial analysis to the management of the internationally oriented institutional asset management of Deutsche Bank Group, where he was a Managing Director and Chief Investment Officer from 1990 till 2000. He was also a board member of Morgan Grenfell Asset Management. In 2000. Later, he became the Head of M.M. Warburg´s asset management. In 2003 he co-founded a leading family office and asset management company for HNWI´s, where her served as CEO till 2017. From 2006 till 2017 he was also managing director of C-Quadrat Asset Management (now Impact Asset Management). Currently Mr. Drayss holds numerous supervisory board and advisory mandates in investment companies and family offices worldwide.

Mr. Drayss is also deeply engaged in creating cultural links between Armenia and Germany. He founded the "Kuratorium Weltkulturdenkmal Kloster Lorsch" in 1998 and in 2002, on his initiative, a UNESCO cultural partnership was established between the World Cultural Monuments of Geghard Monastery in Armenia and Lorsch Monastery in Germany. Drayss also founded the non-profit associations "Noah - Association for the Promotion of Cultural Relations between Armenia and Germany" and the „Sevrugian Cultural Foundation“, based in Yerevan. The youth centers of the Armenian Church in Nork, Arabkir and Artik are closely associated with Drayss as a sponsor.

His dedication to preserving Armenian cultural heritage was honored by "Surb Nerses Shnorhali" medal of the Armenian Apostolic Church and the "Certificat of Honor" of the Matenadaran Museum.

Andreas Wimmer
Deputy Chairman of the Supervisory Board

Among other positions within the company, Andreas Wimmer is the Deputy Chairman of the Supervisory Board of C-Quadrat Ampega Asset Management Armenia and the Deputy Chairman of the Supervisory Board of VIG C-Quadrat TFI, Warsaw, Poland (a joint venture between Vienna Insurance Group and CQ). Prior to his career at CQ, Andreas Wimmer was the Managing Director of the Austrian branch of Bertelsmann, the leading European media group.

Johannes Kärcher
Member of the Supervisory Board

Johannes Kärcher is a German businessman, co-owner, and chairman of the supervisory board of the Kärcher Group, which operates in 41 countries and employs more than 10,000 people. He is also widely known for his profound philanthropic activities in many countries. Johannes Kärcher majored in law at the University of Munich.

Among many other rewards, he has been honored with the Order of the Federal Republic of Germany and the Armenian “St. Nerses the Gracious” medal.

Carlos Mendez de Vigo
Member of the Supervisory Board

Mr. Carlos Mendez de Vigo has accumulated extensive experience in international asset management. He initially served as an M&A analyst in Banque Bruxelles Lambert before joining the business development department for Latin America in Oetker International, an international food retail company. Subsequently, he was responsible for credit risk management and ratings advisory at Goldman Sachs International in London. Later, Mr. Mendez de Vigo joined Morgan Stanley & Co. International as an executive director of credit risk management. Starting from 2014, he served as the director of Financial Institution and Non-Bank Financial Institutions (NBFI) Risk Management Division for Europe and EMEA at Barclays Bank in London prior to joining C-Quadrat Investment AG.

Carlos Mendez de Vigo studied at the Universidad Pontificia de Comillas (ICADE) in Madrid and later received his Master of Business Administration degree from Columbia Business School in New York. 

Last updated: 11-July-2024 19:59