Citi bets on alternative asset group with new leadership in EMEA – Memo By Reuters

© Reuters.

By Pamela Barbaglia

LONDON (Reuters) – Citigroup Inc (NYSE 🙂 brought in a former Swiss credit (SIX 🙂 banker to shake the leadership of its alternative asset franchise in Europe, Middle East and Africa with the aim of gaining more business from clients covering pension funds and sovereign investors.

Didier Denat, who spent 21 years at Credit Suisse and was a member of the Swiss bank’s executive board, will chair Citi’s Alternative Assets Group (AAG) in EMEA while Theo Giatrakos has been promoted to head of AAG, according to a note viewed by Reuters.

Giatrakos replaces Alexis Maskell who resigned in March to join private equity firm BC Partners.

Denat left Credit Suisse in December, just before Switzerland’s second-largest bank was hit by a string of costly scandals that caused it to lose more than $ 5 billion following the collapse of the Archegos family office and suspension. funds related to Greensill.

Denat started his career at Citi in Zurich in 1990 and joined Credit Suisse in 1999, when he took charge of the bank’s leveraged finance and sponsorship business for the EMEA region – a unit which he led for 16 years before being elevated to the top ranks and head of the corporate banking business for four years.

In his new tenure, he will work closely with Giatrakos, who has worked at Citi for a decade and who recently ran its investment banking franchise in Central and Southeastern Europe.

“The $ 20 billion global portfolio of alternative assets represents a significant and high-growth opportunity for Citi to capture significant market share in advisory and financing products and business services,” said the note, which was signed by Anthony Diamandakis, another former Credit Suisse banker. , who now co-leads Citi’s global asset managers.

The US bank also hired David Ibáñez from German Bank (DE 🙂 to expand its new technology and communications franchise under the leadership of Philip Drury.

Ibáñez, who also worked at Goldman Sachs (NYSE 🙂 and JPMorgan (NYSE :), joins as Managing Director and will focus primarily on enterprise software.

Warning: Fusion Media reminds you that the data contained in this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but rather by market makers, so prices may not be precise and may differ from the actual market price. , which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *