Aleksey Ischenko, deputy managing director at Aton-Management, the Russian-based asset manager, has decided to form a new asset and wealth management team by lifting out managers from Renaissance Investment Management, reports Russian news service RBC daily.
 
According to the publication’s source within RIM, 10-15 members of the company, including top managers, have received an offer to move to Aton. Managing directors Vyacheslav Davidenko and Irina Rapoport are reported to have already submitted their resignations.

Renaissance and Aton had not responded to WealthBriefing’s enquiries on the matter at the time of publication.
 
According to the source, Irina Fedorova, director of operations at RIM, was offered a similar position at Aton, but it is not clear whether she has taken up the post. Andrei Kodzar may assume the position of director of the firm’s investment products marketing and information group, the report said.
 
Mr Davidenko, Ms Rapoport and Aleskandr Kudin - another maanger at Renaissance - were reportedly offered positions of senior sales managers. Anton Rakhmanov, currently head of RIM’s shares group, might become senior shares portfolio manager, the report said. 

Vladimir Shapovalov, head of operational and financial control, and directors Aleksandr Krapivko and Tatyana Krasheninnikova, could also join Aton.
 
If these managers accept the offer, it will be the second significant lift-out of key employees from RIM in the course of 2009. Earlier this year about 20 managers from RIM moved to Third Rome, the recently launched Moscow-based investment manager established by Andrei Movchan, RIM’s former chief executive and a founder of the firm.
 
“The crisis caused massive human resources changes on the market. This affected many companies and Renaissance was not an exception - especially if we take into consideration the fact that Renaissance used quite risky investment strategies during the pre-crisis time,” Dmitry Klyonov, partner at UFG Wealth Management, told WealthBriefing.
 
“At the same time, this is a good time for starting new teams. On the back of the fact that many investment companies went bust, we are seeing the appearance of a huge amount of new investment teams which are successfully making use of emerging investment opportunities.”