RenCap puts Alexander Merzlenko in charge of Russia business

Renaissance Capital has appointed Alexander Merzlenko as its president for Russia, adding his new role to his current jobs as head of Russian investment banking and deputy chief executive of the Moscow-headquartered investment bank.

Merzlenko’s promotion is the next high-level personnel move at the emerging markets-focused firm after its takeover by billionaire Mikhail Prokhorov’s Onexim investment company and the resignation of Stephen Jennings as its chief executive several weeks ago.

Early this month, RenCap divvied up the job of chief executive between John Hyman, who had been a deputy to Jennings, and Igor Vayn, brought in from Otkritie.

Merzlenko, who joined Renaissance in 2000 and has more than 16 years’ experience in Russian investment banking, has executed more than 35 transactions with a cumulative value of more than $25bn.

The deals he has led include the yet-unfinished privatisation of SG-Trans, a railway transporter of liquefied petroleum gas, according to a statement from RenCap, which, besides Russia, runs operations elsewhere in the CIS, Central and Eastern Europe and Africa, and has offices in London and New York.

Before joining RenCap, Merzlenko worked for Troika Dialog, a brokerage that was bought out by Sberbank last year as part of the efforts of Russia’s biggest lender to launch an investment banking business.

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