MOSCOW Nov 19 Russian tycoon Mikhail
Prokhorov's Onexim Group wants to turn around Renaissance
Capital, the emerging markets investment bank that it is taking
over from founder Steven Jennings, CEO Dmitry Razumov told
Onexim, which agreed last week to buy the half of RenCap
that it did not own and consumer lender Renaissance Credit for
an undisclosed sum, will not sell the loss-making investment
But it will dispose of non-core assets as it seeks to return
RenCap - the last independent Moscow-based investment bank - to
the profit zone.
"Our current aim is to make Renaissance Capital profitable
again," Razumov said in an email interview.