RenCap cuts 12% but denies HK closure

Renaissance Capital is cutting 12% of its investment banking workforce globally, but this week denied rumours that it was shutting its Hong Kong office. Two sources at RenCap said that the staff reductions were expected to be made this week.

  • 01 Jun 2012
"The organisational changes at Renaissance Capital in Asia are in line with the adjustments that the firm is currently making to its business model globally on the back of the current market environment," the firm said in a statement. "Renaissance Capital remains committed to Asia, with a team ...

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 324,607.67 1260 8.10%
2 JPMorgan 317,157.29 1380 7.92%
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4 Barclays 245,367.72 916 6.12%
5 Goldman Sachs 216,514.13 726 5.40%

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1 BNP Paribas 45,589.37 178 7.10%
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4 UniCredit 33,064.66 151 5.15%
5 SG Corporate & Investment Banking 32,145.89 124 5.01%

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1 JPMorgan 13,559.65 59 8.93%
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4 Morgan Stanley 8,471.86 53 5.58%
5 UBS 8,136.41 33 5.36%