On 20 July 1989, the Università Commerciale Luigi Bocconi (Milan, Italy) established a joint venture with Leningrad State University - the Leningrad International Management Institute (LIMI). The contract was signed by the two rectors in Milan. On 27 July 1989, the State Committee for National Education of the USSR issued the order, which created the Soviet-Italian joint-venture. On the same day, the Ministry of Finance of the USSR registered the newly-formed entity. LIMI was renamed the International Management Institute of St Petersburg (IMISP) in 1992, following the renaming of the city.
IMISP was created in response to the need for the development of a new managerial culture in the former USSR. Since then, the school has been preparing executives and entrepreneurs for the complex task of managing business in a new and constantly changing environment.
Over the years more than 18.000 people have successfully completed IMISP programmes of one kind or another, including 1000 MBA alumni, more than 15.000 graduated in executive education programmes.