Citigroup is shedding certainly one of its most senior dealmakers, with Alison Harding-Jones, the pinnacle of its M&A enterprise in Europe, the Center East and Africa, set to depart on the finish of subsequent month, in accordance with three individuals with data of the matter.
Harding-Jones has run the US financial institution’s M&A operations within the area since 2017, when Citi poached her from UBS because it sought to bolster its European enterprise. She additionally holds the title of vice-chair of company and funding banking for the area.
She has suggested on offers together with Philip Morris Worldwide’s acquisition of the smokeless tobacco firm Swedish Match, and the £4bn buy of UK division retailer Selfridges by Thai conglomerate Central Group and Austrian group Signa in 2021.
Her departure comes as a slowdown in dealmaking exercise hits funding banks world wide. Mergers and acquisitions fell by a file quantity in the course of the second half of 2022, as an financial slowdown and better rates of interest ended a interval of frenetic exercise. Worldwide, funding banks’ charges from M&A exercise fell 26 per cent to $35bn final 12 months.
Harding-Jones and Citigroup declined to remark. It isn’t clear what her subsequent transfer might be.
The senior govt beforehand spent 28 years at UBS, together with main its Asia-Pacific M&A enterprise primarily based in Hong Kong. She is among the few outstanding feminine dealmakers at Citigroup.
Citigroup has just lately introduced in Jens Welter, a prime dealmaker from Credit score Suisse, as co-head of European funding banking and chair of its client and retail advisory enterprise.
The financial institution misplaced Alberto Verme, a senior funding banker whose shoppers ranged from Saudi prince Alwaleed bin Talal to Russian oligarch Roman Abramovich, after he died this month on the age of 65. Citi’s chief govt Jane Fraser stated in a notice to workers that London-based Verme was “a real titan of our business and a selfless mentor to many people”.
Citi ranked fourth amongst international banks with a 16 per cent share of the general M&A advisory enterprise in 2022, behind Goldman Sachs, JPMorgan and Morgan Stanley, figures from Refinitiv present.