Ciobotaru’s appointment fits within the bank’s plan to grow in Russia, the Commonwealth of Independent States and Africa, according to John Porter, head of the bank’s financial group.
Ciobotaru has a 10-year background with Morgan Stanley.
Renaissance Capital is part of the consortium that will broker a secondary offer whereby Romania sells 9.84% in oil company OMV Petrom (SNP.RO). The consortium also includes BT Securities, Romcapital and EFG Securities.
Russian Renaissance Capital plans to open an office in Bucharest in the near future.