A top RAB Capital executive has left the firm to lead the asset management arm of Russia’s Renaissance Group.

Rod Barker has been named co-CEO of Renaissance Investment Management and CEO of RIM International. Barker joins the US$6 billion shop from London-based RAB, where he served as executive director of business development.

Andrei Movchan, who has served as the sole CEO of RIM since its founding in 2003, will be co-CEO with Barker, focusing on Russia and other former Soviet republics. “During its five years of existence, RIM has become the dominant player in the CIS markets, with an exceptional product range and a very loyal client base,” Movchan said.

“The extension of RIM to international markets and the development of international distribution capabilities will catapult RIM to the next level, and I am convinced that Rod is the right person to lead this.”