04 February 2019
Renaissance Capital strengthens MENA team with the appointment of Nancy Adel Fahmy as Vice President, Financial Services Research, in Cairo; announces promotions in Transport, Infrastructure and Healthcare coverage

Cairo, Moscow, 4 February 2019 – Renaissance Capital, a leading emerging and frontier markets investment bank, today announces that Nancy Adel Fahmy has been appointed as Vice President, Financial Services Research, in Cairo, Egypt. The Firm also made structural changes and promotions within its Research department. Effective today, Metin Esendal will oversee healthcare coverage from London while Artem Yamschikov will take over transport and infrastructure coverage from Moscow.    

Nancy Fahmy joins Renaissance Capital’s award-winning EEMEA research team and will be covering financial services across Egypt, North Africa and the Gulf Cooperation Countries. She will report to Ahmed Hafez, Head of Research, MENA, and Amr Helal, North Africa CEO.

Nancy has over 12 years of experience in sell-side equity research, working with one of the leading investment banks in Egypt. For the past 8 years, she headed research of the financial services sector, overseeing coverage of over 30 financial services stocks in more than 7 countries across the MENA region, including Egypt, UAE, Qatar, Saudi Arabia, Kuwait and Lebanon. Nancy has also recently assumed supervision of the real estate sector, in addition to her role as a director for the financial services sector. She holds a BA in Business Administration with a specialisation in Finance from the American University in Cairo (AUC).

Ahmed Hafez, Head of Research, MENA, said: “We are delighted that Nancy is joining the Firm. We are now in the process of enhancing our on-the-ground team and actively expanding research coverage of the MENA region. Today, we see Egypt as screening well as an investment destination for investors and we are well-positioned to provide best-in-class research support.”

In addition, as part of its strategy to promote internal talent, the Firm announces changes in healthcare, transport and infrastructure research coverage. Metin Esendal will take over healthcare sector coverage from the London office while Artem Yamschikov will oversee transport and infrastructure research from Moscow. Alex Kazbegi, Leading Telecom Analyst, is leaving Renaissance Capital to pursue other career opportunities after almost 17 years with the Firm. In addition to his new role, Artem Yamschikov will provide interim coverage of the telecoms sector before a replacement is made.

Daniel Salter, Head of Research, Eurasia and Head of Equity Strategy, said: “Renaissance Capital differentiates itself by providing top-quality company, sector and macro research across our geographies. Demonstrating the strength of our internal talent pool, we are pleased to see Artem and Metin stepping up, and we continue to welcome best-in-class external talent to the Firm.”

With over 10 years of industry experience, Metin Esendal joined Renaissance Capital in 2016 to cover equities in emerging and frontier markets, including Turkey, Georgia, Romania, Pakistan and Bangladesh. He holds a master's degree from London Business School. Artem Yamschikov joined Renaissance Capital in 2014. Based in Moscow, he has been covering telecom and transport stocks across the EEMEA universe. Artem holds a master’s degree in finance from the Higher School of Economics (HSE).