Vagan Amichba and Kirill Schmidt have joined the unit as managing director, senior financial advisor and vice president, financial advisor.

Amichba latterly ran his own M&A consulting boutique, prior to which he was head of wealth management at Troika Dialog. In his new role he will serve key clients of Renaissance Group, said the firm, focusing on ultra high net worth individuals and cross-selling into all businesses of the firm.

Schmidt most recently served as deputy chief executive of Nomos-Bank Asset Management. He has also worked at asset manager AVK Palace Square as a portfolio manager, Citibank Private Banking, Troika Dialog and FCI Management.

Renaissance Advisors was launched in April of this year and Dmitri Sredin was named as chief executive of the new business. At the time the Russian giant said the new unit will focus on Russia and the CIS, Africa and other emerging markets.

Renaissance Group operates in Russia, Ukraine, Kazakhstan, Africa, Hong Kong, the UK, the US and Cyprus.