(Bloomberg) -- Citigroup Inc. has hired Credit Suisse Group AG banker Ray Raimondi to lead global asset managers mergers and acquisitions in North America, according to a memo seen by Bloomberg.
New York-based Raimondi was global head of industrials M&A at the Swiss firm, the memo shows. He joined Credit Suisse in 2016 after working at Barclays Plc and Lazard Ltd., according to Finra.
“The global asset managers sector has and will be one of the largest opportunities for M&A share growth,” Citi executives wrote in the memo. The GAM unit advises on dealmaking involving private equity firms, infrastructure firms and sovereign wealth funds.
Raimondi will partner with Anthony Diamandakis and John Eydenberg, co-heads of global asset managers; Michael Marcus and Michael Quadrino, the North American co-heads of GAM; and Bo Brown, the North American head of sponsor sell-side M&A, the memo shows.
Citi hired Matias Brechner from Credit Suisse earlier this year to lead M&A for its global asset managers unit in Europe, the Middle East and Africa. The bank also hired Orestes Tarajano as a managing director within GAM from Royal Bank of Canada's RBC Capital Markets.
Raimondi's is the most recent managing director departure from the Credit Suisse, which has bled senior talent since losses tied to scandals featuring Archegos Capital Management and Greensill Capital.
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