By Andrei Skvarsky.
Renaissance Capital has hired Victor Lugo from Sberbank, Russia’s biggest lender, to oversee fixed income, currencies and commodities (FICC) sales at RenCap Securities, the US subsidiary of the Moscow-based frontier and emerging markets-focused investment bank.
Lugo, who took up his new job on July 20, will be based in New York and lead a sales practice having a “strong focus” on Sub-Saharan Africa, Russia and the Commonwealth of Independent States, Renaissance Capital said in a statement.
Lugo, who has had an investment banking career of over 18 years, rejoins RenCap Securities after a six-year hiatus during which he was head of credit sales at Credit Agricole and then held a New York-based FICC sales position at Sberbank CIB, the investment arm of the Russian bank.
During his first stint at RenCap Securities in 2007-2009, he “built up an Americas-based institutional investor clientele”, the statement said.
Between 2004 and 2007 Lugo was a member of ING’s fixed income team in New York, and before that a fixed income trader at the Miami operation of Banco Santander and a fixed income salesperson at a former Argentine subsidiary of South Africa’s Standard Bank.
Lugo will report to Igor Kotlyarchuk, global head of FICC, and Anthony Simone, chairman and chief executive of RenCap Securities.