Renaissance Capital: New head of African research quits

Nothando Ndebele, the head of African research for Renaissance Capital, has quit three weeks after Yvonne Ike, the chief executive for the brokerage’s west African operations, left to join Bank of America. “I’m leaving tomorrow,” Ndebele said in a phone interview yesterday. A statement might be released next week detailing her future plans, she said. Ndebele joined Renaissance in Johannesburg in May 2011 after serving as a senior investment officer at Africap Microfinance Investment. She previously worked for Goldman Sachs, Deutsche Bank and Investec Asset Management, and also co-founded Afena Capital. Renaissance, the brokerage owned by Russian billionaire Mikhail Prokhorov, started operations in Africa in 2006. Ike spent almost three years with Renaissance before leaving last month to join Bank of America in London. – Bloomberg