By Andrei Skvarsky.
Renaissance Capital has appointed Ruslan Babaev, its chief business officer, as global head of equities to replace Ben Samuels, who is parting company with the Russian investment bank.
Babaev will continue to be based in Moscow and combine his new position with his role as chief business officer, the firm, which focuses on emerging and frontier markets across the globe, said in a statement.
Anthony Simone, chief executive of RenCap Securities, Inc., in New York, and Renaissance Capital in London, “will now be directly involved in the cash equities business, taking on a larger role representing the Firm with institutional international clients”, the bank said.
“Ruslan Babaev is a very experienced manager,” said Renaissance Capital chief executive Igor Vayn. “Anthony Simone will work closely with Ruslan in building a strong client base and maintaining key client relationships. We believe that the new division of responsibilities is an optimal structure for our business.”
Babaev re-joined RenCap in 2012 from Otkritie Capital, where he had served as head of equities since 2010. Previously he held an equity sales role at Goldman Sachs from 2005.
Ben Samuels, who worked at Bank of America Merrill Lynch for nearly 15 years before joining RenCap in 2013, is going to “pursue new opportunities”, RenCap said.
Vayn credited him with having been “instrumental in leading the Cash Equities team and helping to build what we consider to be a top Frontiers and Emerging equities franchise”.
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