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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

Lagos State Appoints MoneyMaster as Payment Partner for “Ounje Eko” Programme

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“Ounje Eko”, the food price discount initiative of the Lagos State Government, has appointed leading payment service bank, MoneyMaster Payment Service Bank Limited (MMPSB), as its collaborator in the bid to ensure ease of payments at the market.

MoneyMaster is one of the Central Bank of Nigeria-licensed Payment Service Banks (PSBs) to promote financial inclusion across Nigeria.

Under the partnership, MMPSB will apply its cutting-edge payment solution to engender easy payment and reconciliation in order to make   the experiences of Lagosians who will be getting their food supplies from the markets pleasurable. Its payment solution is also all-encompassing and ensures real time value to payment destinations.

The mobile bank was appointed as the collection and payment partner for “Ounje Eko” Food Markets programme which is a government initiative serving the five divisions of Lagos State. Consequent on this, MoneyMaster Payment Service Bank will collect payments in 57 LCDAs in the state.

The partnership gives credence to the quality of payment solutions that MoneyMaster is reputed for in its services to its growing business clientele in private and public sectors.

 


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CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

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Central Bank of Nigeria (CBN), is investigating irregular foreign exchange transactions and forward contracts valued at approximately $2.4 billion.

CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

The  inquiry follows an extensive audit by Deloitte, which scrutinized $7 billion in dollar debts accumulated under the bank’s previous leadership.

In the aftermath of the 294th Monetary Policy Committee meeting in Abuja, Yemi Cardoso, governor of CBN,  disclosed to journalists that the investigation, supported by the Economic and Financial Crimes Commission, among other security bodies, aims to clarify the legitimacy of these FX allocations identified as problematic by the audit.

“It was determined that a number of these transactions did not qualify…they were outright illegal. The law enforcement agencies are now looking into those transactions that as far as we are concerned, are not valid to be paid,” Cardoso detailed, emphasizing the unlawful nature of these forex deals.

The crux of the investigation lies in the audit findings that a significant portion of the scrutinized transactions lacked proper documentation and, in many instances, were deemed outright illegal.

However, the unfolding investigation has raised concerns within the organized private sector, with some entities contemplating legal action against commercial banks for unresolved forex bids.

Despite these tensions, Governor Cardoso reassures that the foreign exchange market remains open and transparent, inviting stakeholders to address their forex needs through the official channels.

Furthermore, Cardoso clarified the distribution of fertilizers to farmers as a one-off measure and not indicative of a shift back to direct interventions by the CBN, underscoring a commitment to strategic, regulatory governance rather than direct market involvement.

 

 

 

 

 

 

 

 


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CBN Urges Banks to Expedite Action on Recapitalisation

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Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite action to increase their capital base from the current ₦25bn.

CBN Urges Banks to Expedite Action on Recapitalisation

Olayemi Cardoso, governor of CBN

Olayemi Cardoso, governor of CBN, stated this during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja, when the MPC hiked the interest rate by 22.75% to 24.75%.

The apex bank chief said the MPC examined developments in the banking sector and expressed satisfaction that the industry remained stable. The committee, however, said to guard against risk, commercial banks in the country should accelerate their recapitalisation efforts.

Cardoso said, “The MPC also reviewed developments in the banking system and noted that the industry remains safe, sound, and stable. The committee thus called on the bank to sustain its surveillance and ensure compliance of banks with existing regulatory and macro-potential guidelines.

“The MPC also enjoined the banks to expedite actions on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.”

 

 

 

 


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