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Citi Shuffles Top Investment Bankers in Power, Financials

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”(Bloomberg) –” data-reactid=”18″>(Bloomberg) —

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Citigroup Inc. is shuffling the bankers overseeing two of its largest investment banking units as the firm seeks to boost revenue from advising and providing financing to corporations.

” data-reactid=”19″>Citigroup Inc. is shuffling the bankers overseeing two of its largest investment banking units as the firm seeks to boost revenue from advising and providing financing to corporations.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”The lender promoted Stefan Wintels, the head of its German unit, and Christian Anderson, who helps oversee the global asset manager group, to run its global financial institutions business. The firm also tapped Jack Paris and Philip ten Bosch to take over as co-heads of global power investment banking.

The moves were announced in a trio of memos this week from Manolo Falco and Tyler Dickson, the co-heads of Citigroup’s global banking, capital markets and advisory division.” data-reactid=”20″>The lender promoted Stefan Wintels, the head of its German unit, and Christian Anderson, who helps oversee the global asset manager group, to run its global financial institutions business.

The firm also tapped Jack Paris and Philip ten Bosch to take over as co-heads of global power investment banking. The moves were announced in a trio of memos this week from Manolo Falco and Tyler Dickson, the co-heads of Citigroup’s global banking, capital markets and advisory division.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”“These appointments highlight the rich diversity of our talent pool,” Falco said in an emailed statement. “Our global network is not just about the pipes.

It’s about the people.”” data-reactid=”21″>“These appointments highlight the rich diversity of our talent pool,” Falco said in an emailed statement.

“Our global network is not just about the pipes. It’s about the people.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Dickson and Falco have been moving around their unit’s leaders as they strive to increase investment banking revenue, and the pair also said they’re seeking to make selective external hires as part of the effort. The New York-based firm’s overall investment banking revenue climbed 4% to $5.

22 billion in 2019.” data-reactid=”22″>Dickson and Falco have been moving around their unit’s leaders as they strive to increase investment banking revenue, and the pair also said they’re seeking to make selective external hires as part of the effort.

The New York-based firm’s overall investment banking revenue climbed 4% to $5.22 billion in 2019.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Wintels and Anderson replace Peter Babej, who was promoted in October to lead Citigroup’s Asia operations. Financial institutions contribute the largest component of client revenue to Citigroup’s investment banking arm and the firm has said it’s seeking to improve its standing within the financial sponsors industry.

” data-reactid=”23″>Wintels and Anderson replace Peter Babej, who was promoted in October to lead Citigroup’s Asia operations. Financial institutions contribute the largest component of client revenue to Citigroup’s investment banking arm and the firm has said it’s seeking to improve its standing within the financial sponsors industry.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”‘Steady Progress’” data-reactid=”24″>‘Steady Progress’

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”“We are making steady progress but we are sure success won’t be a straight line,” Dickson said in a telephone interview. “We are doing the right thing, which is moving our best leaders across our businesses to our highest-priority areas.

”” data-reactid=”25″>“We are making steady progress but we are sure success won’t be a straight line,” Dickson said in a telephone interview. “We are doing the right thing, which is moving our best leaders across our businesses to our highest-priority areas.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Wintels for the last seven years has overseen Citigroup’s German subsidiary, which has grown as the U.S.

bank is shifting assets and people to Frankfurt partly in reaction to the U.K.

’s departure from the European Union. The unit acquired a broker-dealer license in 2018.

Anderson was previously co-head of the global asset managers group, which focuses on private equity firms, pensions and sovereign wealth funds.” data-reactid=”26″>Wintels for the last seven years has overseen Citigroup’s German subsidiary, which has grown as the U.

S. bank is shifting assets and people to Frankfurt partly in reaction to the U.

K.’s departure from the European Union.

The unit acquired a broker-dealer license in 2018. Anderson was previously co-head of the global asset managers group, which focuses on private equity firms, pensions and sovereign wealth funds.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Citi’s head of corporate banking for Germany and Austria, Stefan Hafke, is taking over as country head of Germany on an interim basis. The bank is also looking for someone to replace Wintels as head of investment banking Germany and Austria.

” data-reactid=”27″>Citi’s head of corporate banking for Germany and Austria, Stefan Hafke, is taking over as country head of Germany on an interim basis. The bank is also looking for someone to replace Wintels as head of investment banking Germany and Austria.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Paris and ten Bosch led the power investment banking franchises in North America and Europe and Asia, respectively. The two will work closely with Sandip Sen, who continues in his current role as head of global power corporate banking and alternative energy, according to one memo.

” data-reactid=”28″>Paris and ten Bosch led the power investment banking franchises in North America and Europe and Asia, respectively. The two will work closely with Sandip Sen, who continues in his current role as head of global power corporate banking and alternative energy, according to one memo.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”John Eydenberg, whom Citigroup hired last year from Deutsche Bank AG, will replace Anderson as co-head of the global asset managers group and will work alongside Anthony Diamandakis, who is relocating to New York.” data-reactid=”29″>John Eydenberg, whom Citigroup hired last year from Deutsche Bank AG, will replace Anderson as co-head of the global asset managers group and will work alongside Anthony Diamandakis, who is relocating to New York.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”Citigroup also appointed Alvaro Revuelta and Jorge Ramos as co-heads of investment banking in the Iberia region of Spain, executives said in a separate memo, which noted the firm has nabbed the top ranking in the area for the last three years.” data-reactid=”30″>Citigroup also appointed Alvaro Revuelta and Jorge Ramos as co-heads of investment banking in the Iberia region of Spain, executives said in a separate memo, which noted the firm has nabbed the top ranking in the area for the last three years.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”(Adds Wintels’ succession at Germany unit in eight paragraph)” data-reactid=”31″>(Adds Wintels’ succession at Germany unit in eight paragraph)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”To contact the reporters on this story: Steven Arons in Frankfurt at sarons@bloomberg.net;Jenny Surane in New York at jsurane4@bloomberg.

net” data-reactid=”32″>To contact the reporters on this story: Steven Arons in Frankfurt at sarons@bloomberg.net;Jenny Surane in New York at jsurane4@bloomberg.

net

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.

8em)–sm” type=”text” content=”To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Josh Friedman, Christian Baumgaertel” data-reactid=”33″>To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.

net, Josh Friedman, Christian Baumgaertel

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