Timur Turlov spent years building a financial services business in Kazakhstan. On September 26, 2026, he stepped into a role with a very different audience when national chess federations elected him president of FIDE, the sport’s international governing body. The appointment put his business experience and his record as a chess sponsor under a global spotlight.
How Turlov built his career
Born in 1987, Turlov developed an interest in financial markets early. He worked as a trader while young, later earned a degree in economics and management, and founded Freedom Finance in 2008. The brokerage initially focused on helping clients invest in international markets.
The business expanded in Kazakhstan and became part of Freedom Holding Corp. The holding company’s shares began trading on Nasdaq in 2019 under the ticker FRHC. Today, its activities extend across brokerage, banking, insurance and digital consumer services. Turlov is its chairman and chief executive.
The scale of that expansion is visible in the company’s latest full-year results. For the fiscal year ended March 31, 2026, Freedom Holding reported revenue of $2.19 billion and net income of $153.3 million. Its reported banking customer count rose from approximately 2.52 million to 5.03 million over the year.
Kazakhstan at the center of his work
Although Turlov was born in Russia, he renounced his Russian citizenship in 2022 and became a Kazakh citizen. Freedom Holding sold its Russian business units in 2023. Its main operations are now centered in Kazakhstan, where the company offers a broad mix of financial products and other services.
Timur Turlov public work in Kazakhstan also reaches beyond finance. He became president of the Kazakhstan Chess Federation in January 2023 and has backed tournaments and chess education. He is the founding president of the International School Chess Federation, established in 2024 to help bring chess to more young people.
Why his FIDE election matters
FIDE’s 2026 presidential vote took place during its General Assembly in Samarkand, Uzbekistan. Three candidates competed. Turlov led the first ballot but did not secure the required majority; he won the second round against Wadim Rosenstein by 110 votes to 85. He succeeded Arkady Dvorkovich as the organization’s eighth president.
His campaign emphasized chess education, stronger support for national federations and better digital tools. He also discussed the use of technology to address cheating. These are proposals that his administration will now have to put into practice across federations with different resources and priorities.
The question of Russian participation remains sensitive in international chess. Before the election, Turlov said FIDE should comply with applicable Court of Arbitration for Sport rulings restricting Russian teams. He also expressed hope that the conditions for their return could eventually be met.
Scrutiny alongside success
A complete account of Turlov’s career must also include the scrutiny facing his company. Freedom Holding disclosed that U.S. Securities and Exchange Commission staff sent Wells notices to the company and Turlov in March 2026 as part of an investigation that includes trading and accounting practices. A Wells notice is a preliminary recommendation for possible enforcement action, not a formal charge or a finding of wrongdoing. The company says it and Turlov have challenged the staff’s preliminary determination.
Turlov now leads FIDE while continuing to run Freedom Holding. His influence in both fields is clear; what comes next will be judged by concrete results: how his company handles its regulatory challenges and how his FIDE administration serves chess federations and players worldwide.
