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Citi Builds New Investor Unit, Hires Lazard Vet
24 Apr
Summary
- Citigroup created a new Financial and Strategic Investors arm.
- Klaus Hessberger joins Citi to co-lead the new FSI division.
- The FSI unit replaces the Global Asset Managers group.
Citigroup has recently formed a new division, the Financial and Strategic Investors (FSI) arm. This newly created unit is set to replace the bank's existing Global Asset Managers (GAM) group. The FSI arm will concentrate its efforts on engaging with financial sponsors, sovereign wealth funds, and family offices, indicating a strategic pivot in client focus.
To spearhead this initiative, Citigroup has appointed Klaus Hessberger, a seasoned investment banking professional. Hessberger, who previously held a leadership role at Lazard, will co-lead the FSI unit from London alongside current North America GAM leaders Michael Marcus and Michael Quadrino. Ashu Khullar, the former GAM leader, will transition to explore other senior roles within Citigroup. Additionally, the bank is establishing Global Infrastructure Coverage as a distinct vertical to address heightened activity in the infrastructure sector, led by Todd Guenther.
