Younis said to be stepping down as RenCap Egypt CEO + Saad to become cabinet spokesperson
MOVES- Veteran investment banker Mohamed Younis (LInkedIn) is stepping down as CEO of Renaissance Capital’s Egypt operation by year’s end in the wake of the departure of our friend Ahmed Badr as RenCap’s MENA CEO. Badr is said to be leaving the emerging and frontier markets specialist to return to Credit Suisse after a four-year run. Younis, who joined RenCap in summer 2017 after a nearly four-year stint with CI Capital, worked closely with Badr to build the firm’s on-the-ground presence in Egypt and helped win RenCap a mandate as joint global coordinator and bookrunner on Hassan Allam, the firm’s first IPO in the region.
Badr, in moving back to Credit Suisse,has a mandate to rebuild the global firm’s MENA equities platform and is expected to focus sharply on both Saudi Arabia and Egypt in the first phase of the buildout, for which he is said to be putting together a best-in-class team to cover the markets.
MOVES- Nader Saad has been named the Madbouly Cabinet’s new spokesperson, succeeding Ashraf Sultan, Al Masry Al Youm reports. Saad is a diplomat who had previously worked in the Egyptian embassies in Ankara and Washington, DC.