Russia’s RenCap makes top appointments in Nigeria office

By Andrei Skvarsky.

Russian investment bank Renaissance Capital has hired Temi Popoola from CSL Stockbrokers, a subsidiary of Nigeria’s First City Monument Bank (FCMB), as head of Nigerian equities.

Popoola, who has more than 13 years of emerging markets experience in equities and derivatives, will be based in Lagos, RenCap said in a statement.

At CSL Stockbrokers, he led the sales and trading division.

He began his career as an asset manager in London in 2002. He joined Bank of America Securities in New York in 2006 as a trader in equity derivatives and moved to Lagos in 2009 to join the United Bank for Africa as head of new products and investments. CSL Stockbrokers was his next employer.

Popoola is a co-founder of Centurion Capital Partners, an asset management firm based in New York.

In his RenCap job, he will report to Benjamin Samuels, global head of equities, who said Popoola’s appointment reflected “our commitment to the continued strengthening of our Nigeria and Sub-Saharan Africa offering”.

RenCap has also carried through a reshuffle in its Lagos office.

Daniel Ugwuoke, director for equity and fixed income sales, was appointed as head of fixed income, currencies and commodities (FICC) for Nigeria, reporting to Marina Ryabokon, director of international fixed income sales.

Adesoji Solanke, an analyst for Sub-Saharan African banking, became head of research for Nigeria, reporting to Popoola nationally and Samuels internationally.

RenCap does business in all major Sub-Saharan markets. It has been present in Nigeria since 2007 and operates a comprehensive investment banking, research and sales and trading business in the country with a team of 25 on the ground.

The firm, which is headquartered in Moscow and specialises in emerging and frontier markets, trades in 24 African countries and was rated the number-one investment bank in Africa in 2010, 2011 and 2012 by the Africa Investor and African Banker magazines, and the best equities, research and investment bank in Africa by Global Banking & Finance Review online portal in 2014.

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