RenCap Chief Africa Trader Tony Marcia Leaves Company

Renaissance Capital’s Johannesburg-based Head of Africa Execution, Tony Marcia, has left the Moscow-based investment bank, according to an internal memo sent by the company to staff.

Marcia, who joined the company in 2010 after 20 years at Merrill Lynch & Co., left the bank’s Johannesburg operation to pursue other undisclosed opportunities, according to the memo seen by Bloomberg News.

“Tony joined the African team as head of African execution in 2010 and has been a key driver in helping carry our African business,” the bank’s Chief Executive Officer for Africa Clifford Sacks said in the memo.

Sacks didn’t immediately respond to calls to his mobile phone and office seeking comment. RenCap’s Russia-based spokeswoman Lyudmila Bibina didn’t immediately respond to calls and an e-mail seeking comment.

RenCap, as the bank is known, named Igor Vayn as sole CEO earlier this month after John Hyman, who had shared the job, decided to leave. The company has cut back expansion into faster-growing emerging markets and has closed sales, trading and research operations in Almaty, Kiev, Beijing, Hong Kong.

It also shut some offices in Africa last year and sold assets in African banks and farming, forestry and infrastructure in Russia and countries that made up the former Soviet Union.

To contact the reporter on this story: Christopher Spillane in Johannesburg at cspillane3@bloomberg.net

To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net; Kenneth Wong at kwong11@bloomberg.net

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