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| 9/8/2009 |
| Renaissance Capital Appoints Ruben Aganbegyan as President |
Moscow, September 8, 2009 - Renaissance Capital, the leading investment bank in Russia, Ukraine, Central Asia and Sub-Saharan Africa, is pleased to announce that Ruben Aganbegyan is taking on the position of Renaissance Capital President. In his new role Aganbegyan will be the most senior Firm executive responsible for client and government relationships.
Aganbegyan's new position comes on the back of dramatic changes in the market over the past year, including the formation of a significant deferred demand for investment banking services that will inevitably lead to explosive growth of this segment. The investment bank is currently focused on strengthening existing client relationships, building new products and increasing new business, including through cross-selling of the Firm's various products.
Commenting on the appointment, Stephen Jennings, CEO of Renaissance Group, said: "In the last few years Ruben has overseen our investment banking practice in Russia, one of the Firm's most successful businesses. A great deal of the success of that business is a result of Ruben's tremendous contributions. In his new role as President he will continue to leverage his unparalleled client network and investment banking expertise to drive the Firm's client business to the next level."
Alexander Pertsovsky, CEO of Renaissance Capital, said: "Without a doubt, Ruben's cross-border experience across all business lines of the Firm and strong client relationships will further strengthen our outstanding performance. Today we are more than ever uniquely positioned to embrace new opportunities, and Ruben will play a leading role in that regard."
Ruben Aganbegyan joined the Firm in 2002, was named CEO of Renaissance Capital Russia in 2007 and has in addition served as CEO of Renaissance Investment Management (RIM) since January 2009. He will remain CEO of RIM.
About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading investment banking firm in the CIS, Central Asia and Sub-Saharan Africa. 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.
About Renaissance Group (www.renaissancegroup.com)
Renaissance Group is an independent group of investment banking,asset and wealth management, merchant banking, and consumer finance companies specializing in high-opportunity emerging markets. Renaissance Group operates in Russia, Ukraine, Kazakhstan, Sub-Saharan Africa, the United Kingdom, the United States and Cyprus.
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