Citigroup names new Iberian investment bank bosses in latest shake-up

Citigroup has promoted a trio of dealmakers to lead its investment bank in Iberia, the latest shake-up by its new European boss Nacho Gutierrez.

Pedro López-Quesada has been named chairman of banking, capital markets and advisory at Citigroup for Iberia, according to an internal memo seen by Financial News.

Alvaro Revuelta and Jorge Ramos have also been promoted to co-heads of BCMA Iberia, it said.

López-Quesada is a 30-year veteran of Citi, who was latterly vice chair of its Iberian corporate and investment bank, while Ramos is head of infrastructure investment banking for Europe, the Middle East and Africa. Revuelta has also spent his entire career at the bank, and was most recently head of Iberian investment banking.

READ Citigroup targets Wall Street rivals for top spots in investment banking expansion

Iberia has been a source of talent for Citi’s most senior investment banking ranks in recent years, with global co-head of BCMA, Manolo Falco, and its new head of the unit for Emea, Gutierrez, both cutting their teeth in the region.

Gutierrez was installed as co-head of European investment banking in May, replacing Philip Drury, who moved to lead a new technology unit in San Francisco, and comes amid a push at the bank to gain market share from rivals.

In the past week, he has named new leadership for Citi’s UK and Ireland investment bank, with James Fleming and Jan Skarbek promoted to lead the unit in the region and Emre Eler and Robert Plowman bumped up to lead a new push into the consumer and retail sectors.

Citigroup is aiming to take the top spot in the Emea investment banking league tables, having been third for a number of years, part of a broader ambition to bolster revenues in its advisory unit.

To contact the author of this story with feedback or news, email Paul Clarke

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