By Ivan Anderzhanov in Moscow.
Renaissance Capital’s rainmaker Ruben Aganbegyan has relinquished his role as chief executive of the investment bank after being appointed yesterday as its president.
A RenCap spokesman said Aganbegyan appointment was a promotion and would not dilute his position as its key client and government relationship banker.
Aganbegyan, who joined the group in 2002, retains his role as chief executive of the group’s fund management unit, Renaissance Investment Management.
Renaissance Capital said it has now completed the 40% cuts it needed to streamline its business, and is now embarking on a selective hiring programme.
The bank reported in August it has worked on a string of deals worth over $2bn (€1.4bn) in the past few weeks.
In a statement, Stephen Jennings, chief executive of Renaissance Group, said: “A great deal of the success of that business is a result of Ruben’s tremendous contributions. In his new role as President he will continue to leverage his unparalleled client network and investment banking expertise to drive the firm’s client business to the next level.”
Credit Suisse hires Merrill Lynch’s Ukraine country head.
Swiss bank Credit Suisse has hired an experienced banker from Merrill Lynch as a managing director int its investment banking department in Russia. He will be based in Moscow and starts on November 9.
Anush Simonyan will report to Steve Hellman, head of investment banking at Credit Suisse in Moscow. In his role, Simonyan will focus on the metals and mining sector and will work closely with other sector and product bankers in London.
He joins Credit Suisse from Bank of America Merrill Lynch, where he was a managing director of investment banking in Russia and the CIS and country coverage head for Ukraine. During his 13 years in financial services, Anush has advised on a range of landmark transactions, including acquisition financing for Rusal’s purchase of a 25% stake in Norilsk Nickel, M&A advisory and acquisition financing for Evraz’s acquisition of Vitkovice Steel in the Czech Republic and a range of structured commodity finance deals for leading commodity producers such as Severstal, MMK and IUD.
He was previously global head of commodity finance at ABN AMRO Bank.
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