Stephen Jennings left the investment bank "Renaissance Capital"

ONEXIM Group, which is owned by Mikhail Prokhorov, will become the owner of 100% of the share capital of the investment bank "Renaissance Capital" and gain control over the Bank "Renaissance Credit". Head of "Renaissance Group" Stephen Jennings leaving the investment bank and focus on African projects and asset management business.

According to a joint press release ONEXIM and "Renaissance Group", the parties have agreed for the sale of shares in the "Renaissance Capital" and "Renaissance Credit". After the completion of the transaction, Mikhail Prokhorov will have full control of the investment bank, and in the "Renaissance Credit" its share reaches 89%. "Renaissance Capital" instead of Stephen Jennings led John Hyman, now in charge of investment banking and the post predpravleniya in "Renaissance Credit" will continue to occupy Alexey Levchenko.

ONEXIM Group in June 2009, acquired a 50% stake in Renaissance Financial Holdings Limited (owns the brand "Renaissance Capital"). And earlier this year, the company became a co-owner Mikhail Prokhorov Bank "Renaissance Credit", receiving 32.25% of its own shares.

Founder and main shareholder of "Renaissance Group" Stephen Jennings, will remain chairman of its board, it will now include a number of companies whose business is in Africa (in particular, the developer Rendeavour, bank Renaissance Credit Nigeria), "Renaissance property" and the group of the Criminal Code " Renaissance Asset Management. "

The new majority shareholder "Renaissance" said he intends to continue the development of investment banking. "The successful partnership" Renaissance Capital "and ONEXIM continues for many years. Business in Transition 100-percent ownership ONEKSIM strengthen the financial position of "Renaissance Capital" and will contribute to the further development of its activities in Russia, the CIS, Central and Eastern Europe and Africa, "- said yesterday, John Hyman.

Also, the new owner is interested in further development of consumer credit based on "Renaissance Credit". "We are a partner of the bank more than two years and have found the efficiency of management, the right strategy and the significant potential of this business," - said General Director of ONEXIM Dmitry Razumov.

Now the "Renaissance Credit" is one of the leading places in the consumer credit market. According to the October 1, its portfolio of retail loans amounted to 45.5 billion rubles., An increase from the beginning of the year and a half times. "Renaissance Capital" is one of the largest private investment banks: According to Dealogic, it is in the top 20 of the largest players in the European market, M & A, and the bond market last year was in the top ten of the largest organizers of bond placements.

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