By Andrei Skvarsky.
Russian investment bank Renaissance Capital has set up a fixed income, currencies and commodities (FICC) desk in Kenya and has hired Kenyan investment banker Winnie Cherotich Towett to run it.
The desk’s products “will range from sovereign and corporate exchange-traded bonds (both primary and secondary) to eurobonds, Kenya treasury bills and East Africa bonds and bills”, RenCap said in a statement.
“The products will be available for local clients such as banks, funds, institutional investors, parastatals and East African pension funds, as well as global emerging market funds and other clients.”
Towett, whose job title is vice-president and FICC trader, will be based in Nairobi and report to Stanley Kariuki, RenCap’s CEO for Kenya, locally and London-based FICC trader Vitaly Ryabokon globally.
Before joining RenCap, she worked as a fixed income trader at Kenya’s Faida Investment Bank and earlier on at pan-African investment banking group African Alliance, where, according to Kariuki, she set up a fixed income desk.
“We expect to capitalise on our dominance in the investment banking and equities market in Kenya over the past five years,” the statement quoted RenCap global head of trading Roman Sarychev as saying.
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