November 14, 2012 / 3:27 PM / in 5 years

Onexim buys Renaissance investment, consumer banks

MOSCOW, Nov 14 (Reuters) - Russian tycoon Mikhail Prokhorov’s Onexim Group will buy the half of investment bank Renaissance Capital that it doesn’t already own and Russian consumer bank Renaissance Credit for an undisclosed sum.

As part of the deal, Renaissance Capital’s founder Stephen Jennings will be replaced as chief executive by John Hyman, Onexim and Jennings’ Renaissance Group said in a joint statement on Wednesday. (Reporting by Douglas Busvine; editing by Megan Davies)

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