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Citi Creates Financial and Strategic Investors Group in Investment Banking, Hires Lazard Executive

Published by Global Banking & Finance Review®

Posted on April 23, 2026

1 min read

Last updated: April 23, 2026

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Citi creates Financial and Strategic Investors group in investment banking, hires Lazard executive - Finance news and analysis from Global Banking & Finance Review

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Quick Summary

Citigroup is forming a new Financial and Strategic Investors group within its investment banking arm—replacing the Global Asset Management unit—to better serve financial sponsors, sovereign wealth funds and family offices. It named Michael Marcus, Michael Quadrino and Lazard veteran Klaus Hessberger

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Citi Forms Financial and Strategic Investors Group with High-Profile Hire

Citigroup Establishes New Investment Banking Division

By Tatiana Bautzer

Creation of the New Division

NEW YORK, April 23 (Reuters) - Citigroup is creating a new division within investment banking to boost transactions with financial sponsors, the bank's head of banking Vis Raghavan said in an internal memo seen by Reuters.

Replacement of Global Asset Management

The new group is replacing the former Global Asset Management and is expected to cover clients in three segments: financial sponsors, sovereign wealth funds and family offices. Three executives will lead it, Michael Marcus and Michael Quadrino in New York and Klaus Hessberger in London.

Leadership Team and High-Profile Hire

Marcus and Quadrino were already leading sponsor relationships in New York and Hessberger is joining Citigroup in London. Hessberger is coming from Lazard, where he was Global Co-Head of Financial Sponsors, after a 25-year career at JPMorgan Chase & Co.

(Reporting by Tatiana Bautzer)

Key Takeaways

•New Financial and Strategic Investors group underscores Citi’s emphasis on investor clients such as private equity, sovereign wealth funds and family offices (expanding focus beyond corporate clients)
•The group replaces the former Global Asset Management unit, signaling strategic realignment within the Institutional Clients Group
•Citi hired Lazard’s former Global Co‑Head of Financial Sponsors, Klaus Hessberger, to London, alongside existing New York-based leads Michael Marcus and Michael Quadrino, reinforcing senior leadership for the initiative

Frequently Asked Questions about Citi creates Financial and Strategic Investors group in investment banking, hires Lazard executive

1What is Citi's new Financial and Strategic Investors group?

Citi's new group aims to enhance investment banking transactions with financial sponsors, sovereign wealth funds, and family offices.

2Who will lead the new Financial and Strategic Investors group at Citi?

Michael Marcus and Michael Quadrino in New York, and Klaus Hessberger in London will lead the group.

3Which executive did Citi hire from Lazard for the new group?

Citi hired Klaus Hessberger, former Global Co-Head of Financial Sponsors at Lazard.

4Which segments will Citi’s new group cover?

The group will cover financial sponsors, sovereign wealth funds, and family offices.

5What division is being replaced by Citi’s new group?

The new group is replacing the former Global Asset Management division.

Quick Summary

Citigroup Establishes New Investment Banking Division

By Tatiana Bautzer

Creation of the New Division

Replacement of Global Asset Management

Leadership Team and High-Profile Hire

(Reporting by Tatiana Bautzer)

Key Takeaways

•New Financial and Strategic Investors group underscores Citi’s emphasis on investor clients such as private equity, sovereign wealth funds and family offices (expanding focus beyond corporate clients)

•The group replaces the former Global Asset Management unit, signaling strategic realignment within the Institutional Clients Group

•Citi hired Lazard’s former Global Co‑Head of Financial Sponsors, Klaus Hessberger, to London, alongside existing New York-based leads Michael Marcus and Michael Quadrino, reinforcing senior leadership for the initiative

Frequently Asked Questions

1What is Citi's new Financial and Strategic Investors group?

Citi's new group aims to enhance investment banking transactions with financial sponsors, sovereign wealth funds, and family offices.

2Who will lead the new Financial and Strategic Investors group at Citi?

Michael Marcus and Michael Quadrino in New York, and Klaus Hessberger in London will lead the group.

3Which executive did Citi hire from Lazard for the new group?

Citi hired Klaus Hessberger, former Global Co-Head of Financial Sponsors at Lazard.

4Which segments will Citi’s new group cover?

The group will cover financial sponsors, sovereign wealth funds, and family offices.

5What division is being replaced by Citi’s new group?

The new group is replacing the former Global Asset Management division.