By Andrei Skvarsky.
Renaissance Capital, one of Russia’s top-tier investment banks, has announced a minor reshuffle in its African business, promoting Robert Lamprecht, who joined the firm last month, to chief executive for South Africa and appointing Clifford Sacks as chairman of the South African unit.
Lamprecht was hired by RenCap in January as head of African sales, having previously spent 13 years at Bank of America Merrill Lynch, where he held various senior positions in equities and equity distribution.
His latest role at the US bank was that of head of South African sales in Johannesburg. Earlier on he oversaw the American firm’s sales in Eastern Europe, the Middle East and Africa from offices in London and New York.
Sacks joined Renaissance in early 2010 after 12 years with Merrill Lynch. From 2006 he was a co-chief executive of Merrill’s division for Africa.
Sacks “has driven the build-out of Renaissance Capital’s powerful African equity offering, starting four years ago with the acquisition of BJM Securities and then gradually helping the Firm’s Kenya and Nigeria businesses into the positions of leadership they occupy today”, RenCap said in a statement.
The Moscow-based institution, which focuses on emerging and frontier markets, has three offices in Africa – in Johannesburg, in Lagos and in Nairobi.