About Us

Who We Are

Markets Mentor is built on the successful collective experience and know-how of senior policymakers, policy experts, and business developers. We led critical economic reforms in Kazakhstan and built key institutions & entire ecosystems. We rely on our experience, competencies, local influences, and vast international network.

We envision a future where our clients benefit from our extensive experience, networks, and in-depth understanding of the regional culture, politics, and business environment. 


Vision

We are a boutique consultancy renowned for our expertise in navigating regional (Kazakhstan, Central Asia, and Caucasus) business and regulatory environments and trusted by foreign and local clients for providing insightful, actionable strategic advice.

Mission

By helping our clients, we aim to catalyze positive change for the clients and regional markets. We advocate policy reforms, business development, and investments that enable capital growth and empower businesses & society.

The Team

Founding Team

Baur Bektemirov

Founding Partner & CEO

Harvard & UChicago trained economist and policy expert with a solid quantitative background. 
Baur brings value by working with models, creating frameworks & narratives, and designing policy solutions & winning strategies.



Kairat Kaliyev

Founding Partner

Kairat is a seasoned senior executive with a background in business development, fintech, and relations. With experience in product development and ecosystem growth, Kairat spearheads our business development and strategic insight directions, leveraging his exceptional business acumen to drive growth and identify market opportunities.

Nurlan Dutbayev

Founding Partner

Nurlan has a distinguished career in international relations, specializing in regional markets, particularly China. 
With a profound understanding of global dynamics and cross-cultural communication, Nurlan successfully leads our international initiatives, fostering strong relationships with key stakeholders on the national & international level.

Aisultan Nematov

Founding Partner

Aisultan is a detail-oriented,
responsible, and committed
financial expert with a wealth
of experience in Mergers and
Acquisitions (M&A) within
multinational corporations.
With a deep understanding of
strategic and financial
industry intelligence, Aisultan
consistently delivers valuable
guidance throughout the
investment process.

Dr. Kairat Kelimbetov

Senior Mentor

Dr. Kelimbetov has over 25 years of experience in top leadership positions in the government, central bank, international financial center, sovereign wealth fund, and regional and international initiatives of Kazakhstan.
His career spans a broad range of responsibilities from initiation and execution of crucial development reforms, the transformation of macroeconomic and fiscal policies, founding and management of major institutions, improvement of regulatory and investment climate, designing and implementation of nation-wide investment strategies and regional development policies, structuring and restructuring major state and corporate transactions including listing and raising equity through capital markets, debt and bond issuances, strategic and tactical allocation of state assets, public-private partnerships.
Dr. Kelimbetov’s advice and wisdom guide the Markets Mentor team on our business odyssey and bring unique value to our clients.

Natalya Malyarchuk

GR Practice Supervisor

Public Affairs Consultant. Specialist in public administration in the Central Asia region.
At Markets Mentor supervises the GR practice. Specializes in developing strategies of business-government relations, negotiation process, and work of advisory bodies under the state institutions in Central Asian countries. Graduated from Central Asian University, with a degree in international relations, and Wroclaw State University (Poland), with a degree in
international relations — negotiation process. Headed the Kazakhstan branch of the international anti-corruption organization Transparency International, supervised monitoring, analysis, and development of recommendations for the government of Kazakhstan on anti-corruption practices. For more than nine years, has managed the Central Asia practice of an international consulting company.


We were the core team members that led major monetary policy reform introducing inflation targeting regime at the National Bank of Kazakhstan and that launched the Astana International Financial Centre. In the last two decades, we successfully started and developed the following selected projects (the list is not exhaustive):

2004

National budget planning reform

2004
2006 — 2012

Launch of Sovereign Wealth Fund


Launch of sovereign wealth funds and a long-term development strategy for the Kazakhstan sovereign wealth fund and its portfolio companies;

2006 — 2012
2006 — 2010


Nationwide anti-crisis and banking stability preservation program 

2006 — 2010
2011 — 2012


Government’s International development and macroeconomic policies

2011 — 2012
2006 — 2010


Nationwide anti-crisis and banking stability preservation program 

2006 — 2010
2014


Nationwide pension reform

2014
2015


Transition to inflation targeting and new exchange rate policy

2015
2015 — 2023


Launch and development of the Astana International Financial Centre:

Independent jurisdiction & entire financial ecosystem
The international court, arbitration center, and financial regulator
Brand-new stock exchange with global partners
Academy, fintech hub, green finance center, venture capital platform
International treaties, memoranda, and memberships in global organizations

2015 — 2023
2012 — 2024


GR Support for multinational clients

2012 — 2024