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Portrait of Michael Madden

Michael Madden

Chairman, U.S. Financial Advisory and Vice Chair, Teneo

Michael has been actively involved in the Financial Services business in emerging markets for over nineteen years. He lived and worked in Russia for eight years, on two separate occasions.

In addition to his role with Teneo, he is also currently the Managing Partner and founder of Ronoc, an investment and advisory business primarily focused on financial services in emerging economies, which he established in July 2007. Recently, he launched the Ronoc MSME Impact Fund which is focused on transforming Micro and SME financial institution businesses to market leading retail banks.

In 2003, he was the founding CEO of Renaissance Credit Group, establishing one of the largest Consumer Finance banks in Russia, with operations in over sixty regions in Russia and in the Ukraine. In 2005, he launched the first retail financial services joint venture with IKEA, forming IKANO, where he assumed the role of Chairman. When Michael exited the Renaissance Credit Group in 2007 it was independently valued at $500million.

Prior to building Renaissance Credit, Michael had an extensive and successful career with American Express, characterized by innovation into new markets. He joined the company in Ireland in 1988 and worked in their Card and Travel business before moving to Russia in 1993. Having spent four years in Russia establishing the American Express Card business across the former Soviet, he moved to the UK in 1996, first as Director of the Franchise Markets Portfolio and then as Vice President for the American Express Franchise business in EMEA, as well as managing the American Express International Dollar Card business in Europe.

Michael’s success has been built on inventive business intelligence, understanding of emerging economies and most importantly, the ability to engage with international partners and cross cultural teams.

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