The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Restructured Renaissance Capital picks its battles

A cost-cutting drive and a dearth of deal making at home have made for a turbulent few years at RenCap. But now the Russian economy is recovering, the investment bank is rediscovering its appetite for expansion – at home and abroad.

rouble-standing-tall-2018-R-600

The last five years have seen a lot of change at Renaissance Capital. Since the departure of its legendary founder, Stephen Jennings, Russia’s best-known investment bank has had its headcount slashed, shuttered a clutch of global offices and opened a few new ones, and cycled through senior management at a dizzying pace – all against a backdrop of sanctions and recession in its home market. 

What has emerged is a smaller, more modest business than either the emerging markets giant envisaged by Jennings or the emerging Europe, Middle East and Africa specialist proposed by Mikhail Prokhorov’s investment vehicle Onexim when it took over Renaissance in late 2012. Operations in Asia have long since been abandoned, while a more recent push into the Middle East appears to have fizzled out. 


Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree