OREANDA-NEWS. March 12, 2012. Renaissance Capital, the leading emerging markets investment bank, has completed the acquisition of Istanbul-based brokerage Mira Menkul Degerler A.S., which now operates as Renaissance Capital Menkul Degerler A.S.

The acquisition, which expands Renaissance Capital’s platform to serve clients by facilitating trading of equities and derivatives, as well as portfolio management, has received approval from the Turkish Capital Markets Board.

“Following the completion of this strategic acquisition, we look forward to the full integration of our Turkish business into Renaissance Capital’s pan-emerging markets platform,” said Burak Akbulut, CEO of Renaissance Capital Menkul Degerler A.S. and Head of Turkey Execution at Renaissance Capital. “In addition to being one of the most sought-after emerging markets among debt and equity investors focusing on Europe, the Middle East and Africa (MENA), Turkey will also serve as our gateway to the MENA region.”

David Christie, Chairman of the Board of Renaissance Capital Menkul Degerler A.S., commented: “This acquisition completes the next piece of our global emerging market strategy and we look forward to deepening our relationships with our current client base in Turkey and developing new relationships going forward. It is an exciting day for Renaissance Capital.”

In 2011, Renaissance commenced trading on the Istanbul Stock Exchange and initiated in-depth research coverage of Turkey’s economy and stocks, specifically in the telecoms, banking and retail sectors. The Firm has also made a number of key hires related to the region, including Saydam Salaheddin for investment banking across the CIS and CEE (including Turkey); Yavuz Uzay as Head of Turkish Equity Research; and Mert Yildiz as Turkey & Emerging Europe Economist. In 2010, Renaissance Capital advised Do & Co, the restaurant and catering company, on its ISE initial public offering (IPO) – the first foreign IPO on the exchange.