Renaissance Capital is in many ways representative of the situation of many investment banks in Russia, including foreign firms. For most, it remains the quintessential Russian investment bank. But like other investment banks here (local and foreign) it has faced, and perhaps still faces, existential questions.
Six years ago, it stood in the middle of a booming primary equity market. In this business it was almost unrivalled by local banks, and a good distance ahead of all but one international bank, according to Dealogic rankings.
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