By Ivan Anderzhanov
Russia’s Renaissance Group has hired a former Blackrock star fund manager Plamen Monovski for its new investment arm in a bid to replicate the success of its investment bank.
The company said yesterday it had hired Monovski, formerly head of emerging markets at US fund giant Blackrock, as chief investment officer of the newly rebranded Renaissance Asset Managers.
Adrian Harris, formerly with UK investment firm Schroders, has been named as head of distribution and deputy to Monovksi.
The revamp of the old Renaissance Investment Management business splits the asset management arm from the wealth management advisory business.
Renaissance Group is in rebuild mode after the collapse in the Russian stock market in 2008 forced it to sell half of its investment bank to Mikhail Prokhorov’s Onexim Group
The bank is rehiring again after winning new business in Russia and its new emerging markets.
