Jennings Stephen (Stephen Jennings)

Jennings Stephen (Stephen Jennings)

Biography

• Was born on August 3, 1960 in the city of Taranaki in New Zealand.

• In 1981 received degree of the bachelor of economy of Massey University.

• In 1983 graduated from University of Auckland with degree of the master of economy with honors (both universities - in New Zealand).

• The Credit Suisse of Ferst Boston as Enda Tregeri" in New Zealand worked in ", advising the governments of New Zealand and Australia concerning privatization and restructuring of the state enterprises and also was engaged in the various transactions connected with merges and absorption in the private sector and transactions in security market.

• Later Jennings worked in "Credit Suisse of Ferst Boston" in London where he was engaged in transactions on privatization and placement of new issues of securities in Central and Eastern Europe.

1992: Moving to Russia

In 1992 Jennings arrived to Russia where the Credit Suisse of Ferst Boston" (Moscow) - from 1992 to 1995 was the co-director ". In this quality he directly was responsible for business "Credit Suisse of Ferst Boston", connected with placement of new issues of securities, during this period, when KSFB was considered as the leading player in development and implementation of the first transactions in the Russian capital market. In 1992 Mr. Jennings headed the first voucher auctions of the State Property Committee – the project which laid the foundation of market grouping of the capital in Russia.

1995: Foundation of Renaissance Group

From the moment of foundation of Renaissance Capital company in 1995 Mr. Jennings actively promotes in Moscow to the foreign investments and a capital inflow to Russia, heading numerous significant projects on financing and transactions of merge and absorption in Russia and in the CIS countries. Firm, being under its management, also expanded the geographical coverage and turned into the leading investor conducting investment activities in the developing and boundary countries and paying special attention to Russia, the CIS countries, Africa and Asia.

Mr. Jennings is an initiator of the new concept of development of Renaissance Group within which the firm is positioned as the organization aiming to use the financial potential of fundamental changes of world economy: from the developed markets towards emerging markets.

Mr. Jennings actively participated in creation and development of investment banking business of firm and also the broker direction and direction of sales. In the first years of development of the company he played the leading role in its management, including fulfilled duties of the head of investment banking division, was responsible for sales and operational management.

Later Mr. Jennings is responsible for the general strategic management of Renaissance Group and the companies entering into it: Renaissance Capital, "Renaissance Asset management", Renaissance of the Credit, Renaissance of Partners, Renaissance of Real estate and Renaissance of Edvayzers. He is the chairman of executive committee of group and Board of Directors of group.

2009: Sale 50% minus 1/2 actions in the head company to the Onexim group

In July, 2009, in the middle of financial crisis, Jennings sold 50% minus 1/2 shares of the head company to the Onexim group of Mikhail Prokhorov.

2012: Sale to Oneksim of investment bank and CB Renessans Credit

In November, 2012 Onexim announced that it redeemed from Renaissance the most part of projects, in particular, Renaissance Capital investment bank and Renaissance Credit commercial bank. After completion of the transaction at ONEKSIMA there was an investment banking business, and Jennings has developer projects in emerging markets – Rendevour and "The Renaissance the real estate"^[1].

2013: Sale of the last assets in Russia

In March, 2013 Stephen Jennings sold the last part of the Russian business on asset management — Renaissance Asset Management company. Acted as buyers management of the company and Kazimir Partners. Under management of management and Kazimir Partners passed all assets which are under control of Renaissance (by estimates of the company, $2.9 billion), including the real estate funds and UCITS funds provided in the countries of Europe, the Middle East, the Republic of South Africa ($700 million). Refused to tell about new structure of ownership of the party of the transaction in more detail.

This transaction means final sale of the rest of investment business of Stephen Jennings in Russia. In group there will be only the African developer "Rendevor" and recently starting business on consumer crediting in Nigeria.

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