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E-Financial

Renaissance Capital Announces Executive Management Appointments

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Renaissance Capital, the leading emerging and frontier markets investment bank, is pleased to announce a series of executive management changes.

Christophe Charlier has re-joined Renaissance Capital as Chairman of the Board of Directors.

In this capacity, Mr. Charlier will coordinate the work of the Firm’s Board of Directors and will be responsible for strategic development, the Firm’s brand globally and its relationships with key clients and stakeholders in all of the Firm’s markets.

Ruslan Babaev and Anna Vyshlova have been appointed as co-Chief Executive Officers. In their new roles, Mr. Babaev and Mrs. Vyshlova will continue to drive the Firm’s strategy as a leading emerging and frontier market investment bank. Anthony Simone will take the position of President and will continue to focus on the Firm’s international footprint.

In line with the continued reinforcement of its corporate governance, Renaissance Capital is expanding the Board of Directors to include Christophe Charlier, Ruslan Babaev, Anna Vyshlova, and James Friel, Global Head of Investment Banking.

Dmitry Razumov, CEO, ONEXIM Group, commented: “We are excited about the executive management changes at Renaissance Capital. We are confident that this team, bolstered by the Firm’s uniquely talented professionals, will lead Renaissance Capital to new heights. The combination of Christophe’s experience, Ruslan, Anna and Anthony’s knowledge and their joint track record provide a winning formula to drive the Firm’s business forward in a rapidly changing market and regulatory environment. ONEXIM remains fully committed to Renaissance Capital’s strategy to be a full-service investment bank across the emerging and frontier universe.”

Christophe Charlier is an experienced finance professional, including most recently as Deputy CEO of ONEXIM Group. Mr. Charlier has served in executive positions and on the Boards of Directors of some of Russia’s largest companies, including RusAl, Polyus Gold and Norilsk Nickel, and on the Boards of other companies internationally in the financial services, mining, and sports and entertainment industries.

He served on the Board of Directors of Renaissance Capital from 2009 to 2014 and prior to that worked in the Firm’s Investment Banking department from 1997 to 1998.

Ruslan Babaev re-joined Renaissance Capital in 2012 from Otkritie Capital and most recently held the position of Chief Business Officer.

In his new role, Mr. Babaev will be driving the business performance of the Firm, focusing on revenue generating initiatives by increasing sales efforts and widening the Firm’s product range, assessing new opportunities and facilitating Renaissance Capital’s entry into new markets.

Anna Vyshlova has been with Renaissance Capital since 1997 and since 2006 has been driving the Firm’s support functions as Chief Operating Officer. As co-CEO Mrs. Vyshlova will focus on developing and strengthening the Firm’s infrastructure and management team, ensuring a seamless alliance between different businesses, regions and support groups to expand cross-firm collaboration and facilitate new client opportunities.

Anthony Simone has been with Renaissance Capital since 2008, and a board member since 2012, and in that time has held various leading positions, including Chief Financial Officer and Acting CEO.  He will maintain his role as the CEO for the Firm’s London and New York entities and remain Chairman of the Firm’s Dubai entity. As President, he will focus specifically on Renaissance Capital’s international footprint and have responsibility for client engagement, regulatory, governance and other corporate matters.

 

 

 


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E-Financial

UBA Expands to More African Cities, Stamps Footprint  in Saudi Arabia

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United Bank for Africa (UBA) has announced strategic expansion into more African countries even as it plans to open a new office in Saudi Arabia, marking a significant milestone in its mission to connect Africa with key global markets.

UBA Expands to More African Cities, Stamps Footprint  in Saudi Arabia

Oliver Alawuba, GMD/CEO, UBA group,

This emerged during the Group’s Half Year Business Review held at its global headquarters in Lagos, where Oliver Alawuba, group managing director/CEO, UBA group, met with senior executives overseeing UBA’s 24-country footprint.

The meeting reaffirmed the bank’s pan-African strategy while outlining bold new steps into global markets.

Alawuba highlighted UBA’s continued growth outside Nigeria, with more than 51.7% of Group revenues now generated from its ex-Nigerian operations.

He described the Saudi expansion as a move that positions UBA to support cross-border trade, attract investment flows, and better serve the African diaspora.

“UBA’s vision is clear—we are building a truly global institution anchored in Africa, but serving customers across continents. Our entry into Saudi Arabia signals confidence in new opportunities and commitment to supporting economic connectivity between Africa and the Middle East,” he said.

The Saudi expansion adds to UBA’s international presence, which currently includes the United Kingdom, United States, France, and the United Arab Emirates. Alawuba also disclosed that the bank is upgrading its operating licence in France to further strengthen its European operations.

“In Europe, UBA has operations in the United Kingdom and is upgrading its licence in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in New York,” Alawuba noted.

Since launching its pan-African journey with an entry into Ghana in 2004, UBA has expanded rapidly across 20 African countries, establishing itself as a leading driver of financial inclusion, innovation, and regional integration.

 

 

 

 

 

 


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E-Financial

Ecobank Plans to Raise $250m Capital Through Private Placement

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Ecobank Transnational Incorporated announced its plan to raise up to $250m in Additional Tier 1 capital through a private placement of contingent convertible notes.

In a statement filed on the Nigerian Exchange Limited recently, the capital raise was approved by shareholders at the company’s Extraordinary General Meeting held in Lomé, Togo. The private placement offer was launched on July 9 and will run for ten days.

“Following the approval of the shareholders at its Extraordinary General Meeting held on May 28, 2025, in Lomé, Togo, to raise up to $250m in additional Tier 1 capital qualifying instruments via a private placement of contingent convertible notes, Ecobank Transnational Incorporated announces the launch of the AT1 effective July 9, 2025, for ten days. Renaissance Capital Africa has been appointed as the transaction adviser to ETI.”

The move is an initiative aimed at strengthening Ecobank’s capital adequacy, enhancing financial resilience, and supporting its long-term growth ambitions across its diversified pan-African banking platform.

Additionally, Madibinet Cisse, Ecobank’s Company Secretary, said, “This proposed capital raise represents a critical step in our efforts to fortify the bank’s financial foundation and support sustainable growth across Africa.”

It would be recalled that Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has raised an additional $125m through a Eurobond tap, bringing the total size of its 2029 notes to $525m.

 


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EFCC Recovers Funds Lost to CBEX Fraud

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Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme.

EFCC Recovers Funds Lost to CBEX Fraud

Olukoyede did not announce the amount recovered, but he assured Nigerians that the EFCC is taking action against the promoters of the scheme.

The EFCC Chairman emphasised that the suspects found are facing prosecution.

“We have found a lot of people culpable. Those who promoted that scheme are within our jurisdiction and have been arrested. So, at this moment, they are being prosecuted. And we can also say that money has been recovered, even though the process is still ongoing for us to finally forfeit it,” he said.

Olukoyede also urged Nigerians to exercise caution when investing their resources into online platforms.

“Ponzi schemes remain one of the most pervasive threats facing unsuspecting investors. The CBEX case is a clear example. We all remember the outcry that followed the collapse of the scheme, but these unfortunate situations are preventable. Nigerians must begin to conduct due diligence before committing their resources to such platforms,” Olukoyede said.

He also stressed that the body remains committed to fishing out the culprits and recovering the lost funds.

“It was only when the bubble burst that people wanted EFCC to perform magic and recover their money. In the case we investigated in Lagos, which we dubbed Operation Flush, we arrested a large number of foreigners involved in various cybercrimes, including CBEX. I want Nigerians to know that as of today, we have secured close to 150 convictions. Some of them are already serving their jail terms. And when they are through with that, we are going to send them back to where they came from. So we are monitoring them,” he added.

He urged the public to stay vigilant, assuring them that the body will see the case to the end.

“We are no longer the EFCC that drops cases halfway. Whatever we start, we will finish. Nigerians should trust us and believe in our capacity to do justice. Some of these cases are complex and may require cross-border investigations, but we are up to the task,” he said.


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