Renaissance Capital Hires Rothschild’s Russia Head James Friel

Renaissance Capital, the investment bank controlled by Russian billionaire Mikhail Prokhorov, hired James Friel from Rothschild to expand deal-making in emerging markets.

Friel, who spent a decade at Rothschild and led its Moscow business, joins on Sept. 15, RenCap said in an e-mailed statement on Monday. A Rothschild spokeswoman in London declined to comment by phone.

Based in Moscow, Friel will lead all investment banking activities at RenCap with a focus on developing business in Eastern Europe, the Middle East and Africa, according to the statement. While at Rothschild, he worked a number of large transactions, including the $28 billion sale by a group of Russian tycoons of their stake in TNK-BP to OAO Rosneft and OAO Sberbank’s $3.5 billion purchase of DenizBank in Turkey.

Friel will be “an invaluable addition to the firm,” Igor Vayn, chief executive officer of RenCap, said in the statement.

RenCap is looking to expand outside of Russia after sanctions over the Ukraine conflict triggered a slump in local deals. It has reopened its office in Dubai and is also interested in Saudi Arabia as the country prepares to open its equity market to foreign investors.

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