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RenCap’s Rob Kay leaves firm following suspension

After allegations of misconduct.

Renaissance Capital’s former head of sales trading in Johannesburg, Rob Kay, said he has left the company.

“The issues in dispute between Robert Kay and the company have been amicably resolved to the satisfaction of both parties,” he said in an e-mailed response to questions on August 28, without giving a reason for his initial suspension or details of the dispute. “Both parties have agreed to part ways after the resolution of their differences.”

Kay, 36, was suspended July 27 pending an investigation into allegations of misconduct, RenCap said last month. At the time the brokerage, owned by Russian billionaire Mikhail Prokhorov, named Cameron Macklin to act in Kay’s position. RenCap’s South African office has experienced a number of changes, with human resources head Kirsty Ross promoted to chief executive officer, while former CEO Robert Lamprecht is now head of sales and Chairman Clifford Sacks has left the firm, according to a person with knowledge of the matter.

RenCap declined to comment.

©2015 Bloomberg News

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