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Kiselyov's Resignation Confirmed by RenCap.

Europe Intelligence Wire

| November 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From The Moscow Times)

Renaissance Capital president Oleg Kiselyov has resigned, the investment bank said Monday in a joint statement with Kiselyov, confirming earlier media reports.

The resignation comes in the midst of a criminal investigation -- in which Kiselyov features as a prime suspect -- into an alleged attempt to steal shares in one of Russia's largest iron-ore producers.

At the end of last week, Moscow's Tverskoy district court issued an arrest warrant for Kiselyov, who is currently abroad at an undisclosed location. Kiselyov joined Renaissance Capital in 2004.

"I have voluntarily resigned, effective today, from all positions that I previously held with the Renaissance Capital group of companies," Kiselyov said in a statement distributed by RenCap. "I reiterate in the strongest possible terms that all the accusations of the main investigation department are completely false."

The executive's resignation comes just over a week after reports first broke on Kiselyov's link to an alleged attempt to scupper a deal involving the sale of 97 percent in iron-ore mining complex Mikhailovsky GOK. Mikhailovsky GOK is part of Metallinvest, which Kiselyov headed between 2001 and 2002.

The Mikhailovsky GOK stake was bought by two businessmen for $1.6 billion, ...

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