ABOUT
Ardmore Capital
Strategic Partners
Ardmore Capital is a boutique financial advisory firm that was founded in 1998 by a senior executive of a New York money center bank. Our firm provides turnkey financial solutions to assist our clients in meeting their financial capital requirements. We have clients in Azerbaijan, Indonesia, the Republic of Georgia, Uzbekistan, Kazakhstan, and other CIS countries. We bring experience in a variety of industries. Our services are best suited for middle-sized banks and companies in acceleration and transition periods and established firms that are looking to diversify operations or regain momentum by repositioning their core businesses.
Our Team
Burke McCormack
Principal
Burke holds an MBA from Columbia University and a degree in economics from Cornell. He brings 25+ years of global banking experience, including senior roles at JP Morgan Chase and a boutique U.S. investment bank. At Ardmore Capital, he has led cross-border transactions spanning energy, consumer, and financial sectors, including deals with OPIC and EBRD. Burke’s international expertise covers Asia, Europe, and the CIS, and he previously served as a U.S. Navy officer aboard two destroyers and a submarine tender.
Elena Zandelova
Investment Banking Analyst
Elena brings 10 years of experience in financial modeling, due diligence, and transaction support across banking, private equity, and asset management. She has passed Levels I and II of the CFA Program® and brings cross-border perspective to complex deals, working fluently in five languages including, English, Russian, Romanian, and Chinese.
Ani Stepanyan
Financial Analyst
Ahmed Qadar
Project Finance Specialist
Ani brings 20+ years of international finance experience across auditing, consulting, academia, and freelance advisory. She joined Ardmore Capital in 2023 after advising global clients at a Swiss Group Company and completing 100+ successful freelance contracts. Previously, she taught finance and accounting for 10 years and held senior roles in SME accounting and government training. Ani holds a Diploma with Honor in Economics and is a certified English interpreter.
Ahmed is a CFA Charterholder with 15+ years of investment banking experience, having raised over $200M across global transactions. He specializes in company valuations, financial modeling, M&A advisory, and strategic business planning. With 200+ models built, Ahmed delivers end-to-end solutions using Excel, Power BI, QuickBooks, and more. A strong advocate for financial inclusion, he has worked extensively with MSMEs, combining technical rigor with a development-focused approach.
Gulam Baghirov
Special Representative Caucus Region/ Middle East
Errol Sisanovic
Special Representative Kazakhstan/Central Asia
Gulam holds an MBA from Central European University and a Management degree from the State Economy University of Azerbaijan. He brings over a decade of experience in finance and infrastructure, including leadership roles at Azertunel and Aghalar Construction. Since joining Ardmore Capital in 2009, he has led negotiations with major commercial banks across the CIS region, leveraging deep regional expertise in financial operations and institutional partnerships.
Errol brings 27 years of international management experience across Eastern Europe, Central Asia, and the CIS region. He has launched and led multiple ventures in agriculture and food processing, raising equity investment and securing strategic partners. His core strengths include business development, project management, startup execution, and distribution network leadership. Errol excels in building cross-border partnerships and driving growth in emerging markets.