Russian investment bank Renaissance Capital has agreed to acquire Turkish brokerage Mira Menkul Degerler, expanding its business in the country. The bank, which focuses on emerging markets and has made a string of hires to support its expansion into Turkey, will use the Istambul acquisition to provide equities and derivatives trading as well as portfolio management. Renaissance already trades on the Istanbul Stock Exchange and Mira is a member of both the ISE and the Izmir Futures and Options Exchange. The deal is pending approval from the Turkish Capital Markets Board, which is expected to rule next month. Burak Akbulut, the head of Turkey execution at Renaissance will become CEO of the new unit, called Renaissance Capital Turkey.