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RenCap Chief Africa Trader Tony Marcia Leaves Company

Renaissance Capital’s 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 the region 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, controlled by Russian billionaire Mikhail Prokhorov, has cut back expansion into faster-growing emerging markets and has closed sales, trading and research operations in Kazakhstan, Ukraine, Beijing, and Hong Kong.

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

Marcia’s departure follows that of Gary Lennon, RenCap’s global head of sales trading, in May. Masha Shatalina, head of domestic sales, has also left the bank this year.

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