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Citi hires duo for European clean energy group as ESG talent war heats up
The US bank has been building out a team of dealmakers focused on the clean energy transition
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Thursday September 15, 2022 1:01 pm
Citigroup has hired two senior dealmakers for its new team focused on clean energy transition, as large investment banks increasingly compete for ESG advisory talent.
Martina Ecker has joined Citigroup's natural resources and clean energy transition group as a managing director, while former Goldman Sachs banker, Kristina Ribas, has joined as a director, according to a memo seen by Financial News. The duo will report into Christopher Tubeileh, Citigroup's head of clean energy transition in Europe, the Middle East and Africa.
Ecker joins from German bank Goetzpartners Corporate Finance, having previously worked at Lincoln International, Jefferies and KPMG. Ribas was latterly a senior strategy advisor at Shell, but previously spent 10 years at Goldman Sachs.
Citigroup launched its natural resources and clean energy transition group last year as part of a broader push to create number of 'super groups' of bankers focused on broad trends that are expected to shape dealmaking in years to come. Other sectors include healthcare, consumer & wellness as well as technology and communications.
READ Citigroup builds team of European dealmakers for ‘limitless’ clean energy transition
Last September, it launched its Emea clean energy team co-headed by Philip ten Bosch and Marie-Christine Olive. Meanwhile, veteran dealmaker Doug MacKenzie is chair of the group.
“I’m delighted we continue to invest in talent to serve this high growth sector, which is at the heart of the energy transition. Martina and Kristina’s breadth of experience and complimentary skillsets across client sectors and segments will enable us to be well positioned and at the forefront of the energy transition,” said ten Bosch.
Banks have been hiring senior dealmakers for new ESG and clean energy transition teams in anticipation of an expected surge in activity. Climate experts predict that the move to cleaner energy sources will require trillions of dollars in financing, which will provide a lucrative new line of fees for the world's largest investment banks.
UBS has now assembled a team of senior dealmakers for a new ESG advisory unit, while Bank of America hired four senior dealmakers in August for an ESG investment banking team.
Citigroup has continued to hire senior dealmakers in Europe in spite of a downturn in dealmaking. It has taken on JPMorgan veteran Barry Weir for its UK investment banking team and Deutsche Bank's former head of investment banking coverage, Patrick Frowein, as a vice-chair in Emea.
https://www.fnlondon.com/articles/citigroup-esg-hires-martina-ecker-and-kristina-ribas-for-natural-resources-europe-20220915