Renaissance Capital appoints Popoola CEO for Nigeria

Renaissance Capital, an emerging and frontier markets investment bank, on Thursday announced the appointment of Temi Popoola as the chief executive officer for Nigeria.

A statement by Renaissance Capital said Popoola would focus on equities and growing the investment banking side of the business, as well as overseeing a 25-strong team in Lagos.

Popoola, who joined the investment bank in July 2015, is to report to the CEO, Renaissance Capital, Mr. Igor Vayn, and the bank’s Chief Business Officer, Ruslan Babaev, among others.

The statement said he had been working closely with the sales team, traders and research analysts both locally and across the firm’s network of offices to drive the Nigerian equities business.

It added that Popoola, who holds a first class degree in Chemical Engineering from the University of Lagos and obtained a Master’s Degree from the Massachusetts Institute of Technology, had over 13 years of international experience in equities and derivatives in emerging markets.

Prior to joining the firm, he played a key role in building a successful equities business at CSL Stockbrokers/FCMB in Lagos, enabling the company to become the number two by market share on the NSE in 2014, the statement said.

Vayn was quoted in the statement as saying, “We are very pleased to have appointed Temi as CEO for Nigeria. He brings a wealth of experience to the role and his expertise will enable us to further strengthen our offering there.

“Nigeria is a crucially important market for the Firm and has vast potential. Therefore, we are committed to building our presence in the country and the wider sub- Saharan region, and Temi’s appointment will allow us to continue our strong progress over recent years.”

On his part, Popoola said he was excited to lead the next phase of Renaissance Capital’s growth in Africa’s largest economy.

He added, “While frontier markets globally are currently facing cyclical headwinds, the long-term investment case for Nigeria has never been stronger.

“Renaissance Capital is a leading local partner for those seeking investments in Nigeria and remains committed to providing financial expertise and solutions in the country for both our domestic and international clients. I look forward to working with our clients, employees, and other stakeholders as we grow our business.”

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