By Andrei Skvarsky.
Russian broker BCS has hired three senior electronic traders from Renaissance Capital, including head of e-trading Stanislav Surikov.
The other RenCap defectors are Rizwan Kayani, who was chief operating officer at Renaissance’s e-trading group, and Michael Smith, who was in charge of the group’s international sales.
BCS, a Moscow-based firm owned by Siberian oligarch Oleg Mikhasenko, paid $3m upfront to Surikov and 500,000 pounds ($820,000) to Smith, giving both extra guarantees for the next two or three years, a banking source told EmergingMarkets.me.
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