Michael Madden

Overview

Michael Madden is an entrepreneur with a passion for emerging economies. He has been involved in the credit card business and banking in emerging markets for two decades. He lived and worked in Russia for over eight years and has managed businesses in central, eastern and southern Europe and Africa. Michael was the founding CEO of Renaissance Credit where, in 2003, he established the third-largest consumer finance bank in Russia from scratch. He successfully set up the Renaissance Credit business in Russia and Ukraine and established a joint venture with IKEA. Previously, Michael had a long and successful career with American Express, where he focused on innovation into new markets. He joined the company in Ireland in 1988 and worked in their card and travel businesses before moving to Russia in 1993. Having spent four years in Russia establishing the AMEX Card business across the former Soviet Union, he moved to the United Kingdom in 1996, first as Director for a portfolio of franchise markets and then as Vice President for the AMEX Franchise business in the Europe, Middle East and Africa region. He was also responsible for the international dollar/ euro credit card business in Europe. Michael has built the Ronoc platform around his own key strengths, including a deep understanding of the opportunities and risks in the emerging markets, the ability to form close partnerships with international counterparts, work across cultures and develop deep local networks.