Russian Renaissance Capital's plans for the Romanian capital market

Steven Jennings, the CEO and main shareholder in Russia's Renaissance Capital investment bank, plans to strongly tap into the Romanian capital market, which he expects to become a regional leader in the following years.

Renaissance Capital, one of Russia's largest investment banks, is currently trying to forge a team to open an office in Bucharest that should provide brokerage, M&A consulting services and private equity-type funding, as well as consulting services for the stock and eurobond offerings carried out by the state.
"We've registered with CNVM (National Securities Commission) and we're considering entering (the Romanian capital market i.e.) with a sales team and a trading platform. We're interested in putting our expertise in funding developing economies to work to assist the Romanian Government with eurobond issues," stated Steven Jennings in an interview with ZF.

Renaissance Capital has been looking at the Romanian market for around eight months, but the first visible move was joining the race for the mandate to handle the offering through which the state wants to sell 9.84% in Petrom.