RenCap appoints global co-heads of investment banking

By Andrei Skvarsky.

Russia’s Renaissance Capital has announced two senior promotions, appointing two bankers as global co-heads of investment banking.

One of the appointees is Alexander Merzlenko, who has been president of Renaissance Capital Russia since December 2012 and will combine this position with his new job.

The other is Ron Golan, who joined RenCap last year as head of investment banking in London and Africa, according to a statement from the Moscow-based brokerage, which has stopped losing money and become a profitable business after being bought out by Russian billionaire Mikhail Prokhorov’s Onexim Group a year ago.

Both Merzlenko and Golan will report directly to RenCap CEO Igor Vayn.

Merzlenko joined RenCap in 2000 and was appointed as head of Russian investment banking and financing in December 2009. Golan spent 15 years at Morgan Stanley in several senior positions, including head of investment banking coverage for Israel, Central and Eastern Europe and Africa.

Russia and Africa are the core geographies for RenCap, which also has interests in Central and Eastern Europe and Asia.

The brokerage’s latest deals include the placement of a $7bn Eurobond for Russia, this year’s largest emerging markets bond issue.

In Africa, RenCap was the sole broker for a stake sale which, according to the Russian firm, is the largest single trade to have ever been executed on the Nigerian Stock Exchange.

The Moscow brokerage was also the sole adviser on this sale, in which South Africa’s Public Investment Corporation bought a 1.5% stake in Nigeria’s Dangote Cement for $289m.

RenCap focuses on mergers and acquisitions, equity and debt capital markets, securities sales and trading, research, and derivatives. Among the markets it operates in are metals and mining, oil and gas, and agriculture.

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