A successful entrepreneur with a passion for emerging economies, Mr. Madden has been actively involved in the Financial Services business in emerging markets for over nineteen years. He has 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 setup 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, where he established one of the largest Consumer Finance banks in Russia from scratch. He established the Renaissance Credit business in over sixty regions across Russia and in 2005 setup a bank in Ukraine. In 2005, he also launched the first retailer financial services joint venture in Russia with IKEA (IKANO) replacing GE as the partner of choice with IKEA and was appointed as Chairman of the IKANO financial services business in Russia. When Michael exited the Renaissance Credit Group in 2007, it was independently valued at $500 million.
Prior to building Renaissance Credit, Mr. Madden 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 for a portfolio of Franchise Markets 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.
Mr. Madden’s success has been built on inventive business intelligence, understanding of emerging economies and most importantly the ability to engage with international partners, cross cultural teams and his extensive international network of contacts.