Renaissance Capital is planning to offer execution services in Egypt, Tunisia and Morocco, Bloomberg reports. The Russian emerging-markets investment bank, which currently operates in Ghana, Zambia, South Africa, Kenya, Nigeria and Zimbabwe, will soon start the services in northern Africa.
Africa CEO Clifford Sacks will look after the day-to-day management and implementation of RenCap’s pan-African strategy. Sacks, a former Merrill Lynch banker, has been recently promoted after serving as CEO of the company’s South African unit.
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