John Porter to lead team with convertible bond focus

Moscow, June 24 -- Renaissance Capital announces the creation of a new Equity Linked and Capital Products Group, providing clients in Russia, the CIS and Africa with market-leading solutions in convertible bonds and other hybrid products across the capital structure.

The Group will coordinate the firm's capabilities across sales, trading, research and capital markets and will be led by John Porter, who joined Renaissance last year after 15 years at Morgan Stanley, where he held a number of senior positions and originated and structured several of the most successful convertible bond offerings in Europe, the Middle East and Africa (EMEA).

In addition to Porter, the Group will be comprised of a further eight experienced market professionals with significant convertible bond credentials. The Group will include secondary trading and specialist research, harnessing Renaissance Capital's Institutional Investor award-winning equity and fixed income research capabilities.

The Group is a first among emerging-market investment banks and ensures that issuers in Renaissance's core markets are served by bankers and market specialists who understand their needs and are close to them.

Commenting on the new group Andrew Cornthwaite, Deputy CEO of Renaissance and head of its Financing Group, said: "The creation of this new group reflects the increasing sophistication of the Russian, CIS and African capital markets, as well as the attractiveness of equity-linked and hybrid financing tools to both issuers and investors at a time of uncertainty in the global capital markets. As the number one player in Russian capital markets, this group is a natural extension of our franchise and provides clients with the skills and experience of world-class bankers, traders and salespeople."

About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading investment banking firm in Russia, the CIS, sub-Saharan Africa and in other high-opportunity emerging markets. Renaissance Capital has market-leading positions in each of its core businesses -- M&A, equity and debt capital markets, securities sales and trading, research, and derivatives. Renaissance Capital is part of the Renaissance Group.