Bloomberg News

RenCap Strategist Oganisian Leaves as Part of Bank’s 10% Cutback

November 30, 2011

Nov. 30 (Bloomberg) -- Ovanes Oganisian, an equity strategist at Renaissance Capital, has left the Russian investment bank as part of a 10 percent cut in its workforce.

Oganisian was a “layoff” as part of reduction in staff announced in September, Preston Mendenhall, a Moscow-based spokesman, wrote in e-mailed comments today. Oganisian, a 14- year bank veteran, couldn’t immediately be reached for comment.

Renaissance, partly owned by billionaire Mikhail Prokhorov, said in September it is cutting 10 percent of its global workforce, or 125 jobs, to “align” costs with market conditions.

--Editors: Steve Bailey, Jon Menon

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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