By Andrei Skvarsky.
Renaissance Capital has hired Mike Harris from Bank of America Merrill Lynch as chief strategist for the Russian investment bank’s business in Turkey and made four other senior appointments for its Turkish team.
Harris will be based between London and Istanbul and report to David Nangle, Head of equity research at RenCap, the Moscow-based firm said in a statement, which described Turkey as “a core market” for the bank’s franchise for Eastern Europe, the Middle East and Africa.
Ilgin Erdogan has been appointed as head of Turkey research, based in Istanbul. As two other changes to the Turkish research team, Mete Ozbek has been put in charge of consumer coverage and Can Demir entrusted with the lead coverage of Turkish and Greek financials.
David George, who joined RenCap in February as head of London trading, has received an additional role as head of Turkish equities.
Harris has been a senior research analyst, research manager and equity strategist at Bank of America Merrill Lynch over the past 19 years. On eight occasions from 2002 to 2010, he and his team were ranked number one for Turkish stock coverage by Institutional Investor.
More recently, Harris was head of emerging and frontier markets strategy for Europe, the Middle East and Africa at BAML. In that period he received another nine top rankings from Institutional Investor, including the number-one position for Turkish equity strategy.