Renaissance AM hires CEO from HSBC fund arm

Renaissance Asset Managers has had a major hiring coup by appointing Barbara Rupf Bee its chief executive, from HSBC Global Asset Management, continuing its expansion of staff and funds in emerging markets.

Additionally, Plamen Monovski who joined RAM in 2010 was named president, on top of his existing role as chief investment officer.

RAM said Rupf Bee (pictured) will lead its strategy in emerging and frontier markets, which employs 30 investment professionals and assets of $2.8bn. Over $570m of this is in Ucits portfolios.

RAM has hired four staff recently for growth markets, and acquired three emerging Europe funds from boutique Griffin Capital Management.

Stephen Jennings, CEO of Renaissance Group, said RAM was focused on “markets that are moving to the forefront of investor focus, as global capital and resources shift to the emerging economies”.

Rupf Bee, who was global head of institutional sales at HSBC Global Asset Management since November 2007, said: “Emerging markets capabilities represent the future in investment allocation and growth, given their potential. The firm’s focus on Russia, emerging Europe and Africa is at the forefront of a significant and unique opportunity for investors around the globe.”

Rupf Bee has also worked as investment advisor to HSBC’s fund of hedge funds and institutional client portfolios, and global head of alternative business development and sales at HSBC Private Bank.

Monovski co-managed the BlackRock Emerging Europe fund, and headed BlackRock’s global emerging markets team.

The appointments and promotions come at a time of significant expansion for RAM.

Last month it announced it had bought two the Griffin Ottoman fund and Griffin Eastern European Value fund, with $116m assets and lead managers Aziz Unan and Robert Holmes. It also finished buying Griffin’s $252m Eastern European fund in December.

Griffin Ottoman – now Renaissance Ottoman – is a Ucits IV equities strategy whose London-based manager Unan focuses on Turkey and broad Eastern European and MENA equities. He has won medals from German allocator Sauren, among others.

The Griffin Eastern European Value fund – now Renaissance Eastern European Allocation fund is a ‘total return’ strategy focused on equities and fixed income across the region. Manager Holmes has run the $74m fund since 2008 – and will continue at RAM.

It will distribute these funds in France, Nordics, Spain, Russia, Germany, Austria and Switzerland.

Peter Zurhorst, head of Germany and Austria said the Griffin deal “cements the importance of the German and Austrian market to RAM. We will be launching additional funds shortly.”


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