Anthony Diamandakis, Global Head of Citigroup’s global asset-managers team, is set to leave the bank to pursue a new opportunity, according to a report by Financial News citing unnamed sources familiar with the matter.
Diamandakis, 50, led Citi’s team advising alternative-asset firms and played a key role in strengthening the bank’s strategic relationships with asset managers. Under his leadership, Citi advised major private equity firms, including Apollo Global Management on its acquisition of Bridge Investment Group and Sycamore Partners on its purchase of Walgreens Boots Alliance.
In an internal memo, Citi’s investment banking heads Jens Welter and Ashu Khullar, who co-head Diamandakis’ former group, emphasised the bank’s continued focus on enhancing engagement with sponsors and capitalising on opportunities to expand its wallet share with this important client segment.
Following Diamandakis’ departure, Michael Marcus and Michael Quadrino will partner with Khullar to oversee Citi’s global asset managers (GAM) franchise in North America. Todd Guenther will maintain his leadership role overseeing infrastructure for North America and Latin America, in addition to his position heading power, utilities, and renewables. Marcus, Quadrino, and Guenther will report directly to Welter and Khullar.
Diamandakis, who joined Citi in 2014, previously worked for about 17 years at Credit Suisse and its predecessor Donaldson, Lufkin & Jenrette.
