RenCap: Rouble’s recent weakening predictable

Investment bank Renaissance Capital argues that the weakening of the rouble over the past few weeks has been predictable and is mainly the result of post-lockdown increases in consumption and in demand for imports and foreign currency in Russia. On July 31, the rouble hit its lowest mark in three months, dropping to a little… Continue Reading

Renaissance Capital hires Maria Radchenko as chief fixed income analyst

Investment bank Renaissance Capital has hired Maria Radchenko from Moscow-headquartered investment company BCS Global Markets as head of fixed income analysis. Radchenko has joined RenCap’s distribution team for Russia and the Commonwealth of Independent States (CIS) and is based in Moscow, according to a RenCap statement. She reports to Grigory Sedov, global head of private… Continue Reading

Matrix Capital: Russia’s financial system has made quick post-Covid recovery but rest of economy still in trouble

By Andrei Skvarsky. Russian asset manager Matrix Capital says Russia’s financial markets have made a remarkably quick recovery from blows inflicted by the Covid-19 pandemic but that the rest of the country’s economy remains in a “very alarming” state. “By and large, financial markets are making an unprecedentedly quick post-crisis recovery, especially if one draws… Continue Reading

EVENTS: Africa Bank 4.0 Summit to look into Covid-caused challenges, blockchain, cybersecurity

Blockchain, cybersecurity, the role of artificial intelligence in financial inclusion, support for African agriculture by banks, fintechs and insurtechs, and coronavirus-caused problems are among subjects to be raised during the Africa Bank 4.0 Summit, a virtual conference on August 26-27. The forum, organised by event company BII World, will take place from 1:30pm to 5:30pm… Continue Reading

Unicorn PE firm to find strategic investor for Russian drug company

By Andrei Skvarsky. Moscow-based private equity firm Unicorn has announced it has been hired by a Russian pharmaceutical company to find a strategic investor for it. Unicorn’s client in the project is Mosfarm, a company headquartered in the Moscow region and one of Russia’s largest manufacturers of infusion solutions. Unicorn, whose business is focused on Russian… Continue Reading

BCS GM hires oil and gas analyst Ronald Smith from Citi

By Andrei Skvarsky. BCS Global Markets (BCS GM), the investment banking arm of Russia’s BCS Financial Group, has hired Ronald Smith from Citibank as senior oil and gas analyst. Smith will be based in Moscow, BCS GM said in a statement. He will report to the investment bank’s head of research, Kirill Chuyko. At Citibank,… Continue Reading

EVENTS: marcus evans moves Elite Summit private wealth management forum to Nov 23-25

Event organisation company marcus evans has rescheduled the Elite Summit, a European private wealth management conference initially planned for June, to November 23-25. The choice of location remains unchanged at Montreux, Switzerland. The planned forum, an invitation-only event that aims to bring together private wealth managers with solution providers, will focus on points such as… Continue Reading

Moorgate Capital acts as exclusive financial adviser in UK firm’s buyout of food wholesaler

By Andrei Skvarsky. London-based Moorgate Capital has acted as the exclusive financial adviser to British firm Lioncroft Holdings in acquiring 200m-euro ($225m) food and beverage wholesaler Lioncroft Wholesale (trading as East End Wholesale Stores) in a deal completed on June 30. Lioncroft Holdings bought Lioncroft Wholesale from East End Foods, one of Britain’s largest Asian spice,… Continue Reading

EVENTS: ESG standards the theme of Reuters Events webinar on July 9

Standardisation is a key aspect of investing based on environmental, governance and social (ESG) principles, and is the theme of a planned free Reuters Events webinar on July 9. The one-hour interactive webinar, “ESG Standards: the best path forward”, starts at 9:30 EST/14:30 BST/13:30 GMT. You can register here. The four experts the event will… Continue Reading

Unicorn private equity firm chosen as strategy adviser by major Russian poultry producer

By Andrei Skvarsky. Russian private equity firm Unicorn has announced it has been chosen by Prioskolie, one of Russia’s largest poultry meat producers, as its exclusive adviser on strategy, the attraction of investments and business expansion. Prioskolie, which has its headquarters, production facilities and sales services in the southern Russian region of Belgorod, made a… Continue Reading

RenCap expects less dramatic Russian GDP decrease than generally foreseen

By Andrei Skvarsky. Investment bank Renaissance Capital has reaffirmed its forecast that Russia’s gross domestic product for 2020 will be 2.5 per cent down on 2019, which defies the consensus forecast of a decrease of more than 4 per cent. In reiterating RenCap’s prediction, senior economist Sofya Donets made the reservation that the overall situation… Continue Reading

Energy transition means vast markets, ‘stellar’ opportunities – senior figure at Reuters Events

Energy transition, the replacement of fossil fuels by environmentally friendly renewable energy, is creating a vast global market with extensive opportunities for investment, according to an article by Owen Rolt, head of energy transition at Reuters Events. The article, “Five Predictions as We Enter the Age of the Energy Transition”, precedes Reuters Events’ planned Energy… Continue Reading

EVENTS: marcus evans-organised Private Wealth Management APAC Summit rescheduled to Oct 19-21

Event organisation company marcus evans has rescheduled its 2020 Private Wealth Management Asia Pacific Summit to October 19-21. The invitation-only conference will take place in Kuala Lumpur, Malaysia. Issues to be raised include how to stay afloat amid the onsetting recession caused by the Covid-19 pandemic, how to maintain stable business amid geopolitical, social or… Continue Reading

African Development Bank debars two Chinese firms for alleged fraud

By Andrei Skvarsky. The African Development Bank (AfDB) has temporarily closed any projects funded by it to China-based electrical equipment manufacturer Sieyuan Electric and one of its subsidiaries, accusing the two companies of fraud in seeking a contract in Rwanda. Sieyuan presented false credentials in tendering for a contract under an AfDB-financed electricity access project… Continue Reading

Standard Chartered appoints CFO for Africa and Mideast

Standard Chartered on June 8 announced the appointment of Subhradeep Mohanty, previously the bank’s chief financial officer (CFO) for India, as CFO for Africa and the Middle East (AME). Before joining Standard Chartered in 2014, Mohanty held Singapore- and Hong Kong-based CFO roles at J.P. Morgan, positions at American Express and a job at one… Continue Reading

EVENTS: Dozens to speak during Opal-hosted virtual Investment Trends Summit on June 16

Senior figures in about three dozen entities, mostly commercial companies such as advisories, asset managers and investment firms, will take the floor during the seven-hour virtual Investment Trends Summit on June 16 hosted by New York-based Opal Group. Speakers will examine the global macroeconomic and geopolitical situation, look into developments in equity and fixed income… Continue Reading

Drake Star Partners CEO to oversee company selection for investment portfolio of Da Vinci’s Emerging Technologies Fund III

Emerging markets fund manager Da Vinci Capital has hired Gregory Bedrosian, co-founder of four investment firms, to head the evaluation committee for companies being considered for inclusion in the portfolio of the firm’s Emerging Technologies Fund III. Da Vinci expects to launch the fund, a vehicle for investment in technology companies across Eurasia, late in 2020… Continue Reading