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|Subject: Renaissance Capital, Russia's largest private investment bank, has recruited a managing director from Credit Suisse Wed Sep 25, 2019 5:15 pm|| |
Renaissance Capital, Russia's largest private investment bank, has recruited a managing director from Credit Suisse, the eighth hire it has made from its rivals in a fortnight.
Hasnen Varawalla, a managing director in Credit Suisse's London-based equity corporate finance team, has joined Renaissance Capital as head of corporate finance.
Varawalla, will join former Credit Suisse colleague, Andrew Cornthwaite, co-head of investment banking at Rencap, who joined the firm last year as head of capital markets.
Last week, Rencap hired seven staff for its fixed income business, three of whom came from Dresdner Kleinwort, including Igor Serov, who will run the bank's debt capital markets business.
These hires came less than a week after Bob Foresman, the head of Dresdner Kleinwort's Russian business, joined Rencap as deputy chairman. He quit the German bank in July.
In February, Rencap hired Neil Harvey, a former Credit Suisse managing director and founding partner of hedge fund Bennelong Asset Management, as deputy chief executive and head of fixed income.
Credit Suisse and Rencap, along with Dresdner Kleinwort, are working together on the flotation of Russian steel pipe manufacturer TMK, which will launch a $1bn (€789m) deal this week. Credit Suisse and Rencap last worked together on last year's listing of steel maker Evraz.
Bankers with Russian equity capital markets experience are also particularly sought after, and last week UBS hired Moscow-based conglomerate Sistema's head of capital markets, Andre Bliznyuk, as an executive director focusing on Russian equity issues.