Bureaugarchs

Hi,
Do you know what the word “bureaugarchs” means? It came across this word in the following phrase:

In Russia a clique of “bureaugarchs”, often former KGB officials, dominate both the Kremlin and business.

This is a word coined by someone to describe the situation of the people who surround Putin I presume.

This sounds like a made-up word that was not made up all that well. Bureau would be from French and mean mean “office” or “organization” and “garch” would be from Greek "-arch’ (as in “archon”) and would mean “ruler” or “boss” or “director.” I guess the “g” was stuck in for euphony , to sound like “oligarch,” although that “g” is not part of the suffix “-arch.”

bureaucrat and oligarch = bureaugarch