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01/18/2005
RENAISSANCE CAPITAL APPOINTS IGOR YURGENS AS FIRST VICE PRESIDENT, HEAD OF STATE & GOVERNMENT RELATIONS
Moscow, January, 18, 2005 - We are pleased to announce that Igor Yurgens, former vice-president and executive secretary of the Russian Union of Industrialists & Entrepreneurs (Employers), has been appointed First Vice President, Head of the State & Government Relations Department. In this position, Mr Yurgens will be responsible for the new strategic development and co-ordination of Renaissance Capital's relations with both state and government institutions.
At the same time, Mr Yurgens will retain the honorary post of Vice President of the Russian Union of Industrialists & Entrepreneurs (Employers).
Commenting on his joining Renaissance Capital, Mr Yurgens said: "Over the past several years my professional activity has mainly been connected with maintaining relations and co-operation between the Russia's business community and political institutions. I believe that my experience will be very useful, and will be expanded upon, in my new role at Renaissance Capital. The principal factors behind my decision to join Renaissance Capital were the group's leadership on the Russian financial market and its independent status. Moreover, as a link between the real economy and the financial sector, Renaissance Capital's role as an investment bank interests me greatly from a professional viewpoint."
Commenting on Mr Yurgens' appointment, Oleg Kiselev, President of Renaissance Capital said: "Renaissance Capital, Russia's leading investment bank, is obviously interested in the further development of constructive relations with both state and government institutions. In this context, we view the appointment of Igor Yurgens, a highly respected and professional figure, as an important step in this direction."
Alexander Shokhin, Chairman of the Supervisory Board of Renaissance Capital, added: "I've known Igor Yurgens for 35 years. He is as a highly professional and talented individual. I am glad that he has joined Renaissance Capital and wish him much success in his new role."
Before joining Renaissance Capital, from September 2000 to the end of 2004 Mr Yurgens was vice-president and executive secretary of the Russian Union of Industrialists & Entrepreneurs (Employers) and Chairman of the Financial Markets Committee, Russian Federation Chamber of Commerce and Industry.
Prior to this, in April 1998-August 2000, Mr Yurgens headed the All-Russian Insurance Association. In 1996-1997, he was Chairman of the Board of MESKO Insurance Company. From 1992 to 1997 Mr Yurgens was First Deputy Chairman of the Trades Union Confederation.
Mr Yurgens started his working career in 1974 in the international department of the All-Union Trades Union Committee. From 1980 to 1985 he worked in the Foreign Relations department of the UN on education, science and culture.
Mr Yurgens graduated from the faculty of Economics, Moscow State University, PhD in Economics and is the author of a number of articles and monographs.
Renaissance Capital (www.rencap.com) is the leading independent investment bank operating in the Russian financial market, serving both domestic and international clients. Since its founding in 1995, the company has raised over USD9 billion for Russian companies - more than any other financial institution - and has completed many high-profile deals.
In June 2004 Renaissance Capital comprehensively won Institutional Investor magazine's 'All-Russia Research Team' survey. Renaissance Capital came in first by a wide margin, placing in all categories and winning a total of 15 team positions, including 8 out of 11 possible first-team finishes. In 2004 and 2003, Renaissance Capital was voted the No.1 research house in Russia in the 'Institutional Investor All-Europe Research Team' survey. In 2003 it was the first time that a locally-based firm, rather than a satellite office or a joint venture that included an international firm, has won this distinction in Russia.
Renaissance Capital acted as lead manager on the RUB 5 billion Lukoil placement which set historical low yield to return coupon rate; a manager of the RUB5 billion three-year bond issue for OAO Gazprom (2004); the exclusive financial adviser on the sale of a 74% stake of Uzbekistan's biggest mobile phone company Uzdunrobita to MTS in a transaction valued at USD121 million (2004); the financial adviser to OAO Gazprom on its acquisition of an additional 12% stake in OAO Stimul (2004); the global coordinator, bookrunner and placement agent of Kalina's IPO share placement valued at USD53 million (2004); the exclusive financial adviser and sole placement agent for Wimm-Bill-Dann in its secondary Regulation-S placement of 1,760,000 GDRs (2003); the sole financial adviser to Kuban GSM on its sale of a 47.3% stake to MTS in a transaction valued at USD107 million (2003); the exclusive financial adviser on the merger of VNK and YUKOS (2003); the sole arranger of a financial consortium that purchased (in 2002) a 34% stake in Novolipetsk Metallurgic Plant (NLMK).
Renaissance Capital maintains the strongest domestic fixed income business in Russia, with a market share in secondary market corporate bond trading that exceeds that of the second, third and fourth ranked houses combined. Renaissance Capital also leads the domestic rouble-denominated corporate bond placement market. Renaissance Capital acted as the joint arranger of Gazprom's RUB10 billion bond issue, the largest rouble-denominated issue to date in the Russian Federation (2004); the arranger of MegaFon's RUB1.5 billion bond issue (2004); the joint arranger of Gazprom's RUB5 billion bond issue (2002).
Renaissance Capital acted as underwriter in Gazprom's USD1.7 billion eurobond placement (2003), and in the USD400 million eurobond placement for MTS (2003).
Renaissance Capital Limited, a member of Renaissance Capital, was the first Russia-focused UK investment firm to be authorised by the Financial Services Authority (FSA) of the United Kingdom as a 'Category A' firm, and was the first Russia-focused investment institution to become a member of the London Stock Exchange (LSE).
For further information please contact Leonid Ighnat at 7 095 725 52 27 or at Lighnat@ rencap.com |
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