We consider holomorphic maps defined in an annulus around $mathbb R/mathbb Z$ in $mathbb C/mathbb Z$. E. Risler proved that in a generic analytic family of such maps $f_zeta$ that contains a Brjuno rotation $f_0(z)=z+alpha$, all maps that are conjugate to this rotation form a codimension-1 analytic submanifold near $f_0$. In this paper, we obtain the Rislers result as a corollary of the following construction. We introduce a renormalization operator on the space of univalent maps in a neighborhood of $mathbb R/mathbb Z$. We prove that this operator is hyperbolic, with one unstable direction corresponding to translations. We further use a holomorphic motions argument and Yoccozs theorem to show that its stable foliation consists of diffeomorphisms that are conjugate to rotations.