People Moves

Russia’s Renaissance makes Asia foray


Moscow-based investment bank Renaissance Capital, which runs an equity structured products group that is a leading provider of prime brokerage services to Russian hedge funds, has opened a Hong Kong office, its first in Asia. It is expected to have 20 staff by year-end.

Renaissance, which has a substantial  hedge fund business, may extend its equity structured products group and internal asset management business to Asia in the future, said Jeremy Sparrow, CEO of the Hong Kong operation, although there are no firm plans at the moment.

Renaissance will initially focus on launching IPOs of non-Asian corporations on