RENCAP appoints Friel Global Head

Renaissance Capital (RENCAP) has hired James Friel as Global Head of Investment Banking effective from September 2015 in its quest to further strengthen its deal sourcing and execution in frontier and emerging markets.

According to a statement from the company, Friel will oversee all investment banking activities at the firm with a strategic mandate to further develop Renaissance Capital’s EEMEA and new markets franchise, and will report directly to Renaissance Capital Chief Executive Officer, Igor Vayn.

Friel joins from Rothschild, where he has spent the last ten years, and headed the firm’s business in Russia and the CIS, in addition to having global responsibility for the steel sector.

While at Rothschild, Friel worked on numerous large Russian M&A transactions, IPOs and financing deals across a wide range of sectors, including advising Abbott on the c.$700million acquisition of Veropharm; AAR on the $28billion sale of its stake in TNK-BP to Rosneft; Sberbank on its $3.5billion acquisition of DenizBank in Turkey; and UC Rusal on the restructuring of its c.$17 billion of debt, its $2.2billion IPO in Hong Kong and its $4.75billion and $400million PXF refinancing deals.

According to the CEO, RenCap, Igor Vayn, we are delighted to welcome Friel on board and think he will be an invaluable addition to the Firm. He has built an exemplary reputation after many years in investment banking and can draw on a wealth of experience in both developed and emerging markets.

“We are confident that Friels’ strategic vision and impeccable track record will help our investment banking franchise boost revenue growth and expand footprint around our established and new high-opportunity geographies,” he stated.

According to RENCAP, Friel will be based in Moscow and will travel extensively to Sub-Saharan Africa and the bank’s key regions across its universe.

Prior to joining Rothschild Friel spent eight and a half years at Lazard in London and Paris where he worked on a number of large European transactions, such as Eurotunnel’s restructuring of its £6 billion of debt; Veolia Environment’s $610 million disposal of Culligan to Clayton, Dubilier & Rice and its acquisition of Southern Water Services and associated £2 billion securitisation, among others. Friel earned his BA from Princeton University.

RENCAP has established market leading positions in each of its core businesses -M&A, equity and debt capital markets, securities sales and trading, research and derivatives.