Finance
Citi Hires Lazard's Hessberger to Co-Lead New Financial Investors Group
Published by Global Banking & Finance Review®
Posted on April 24, 2026
2 min readLast updated: April 24, 2026
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Citi has launched a new Financial and Strategic Investors (FSI) arm, replacing its Global Asset Managers (GAM) group, and has hired Klaus Hessberger from Lazard to co‑lead the unit alongside existing leaders Michael Marcus and Michael Quadrino. The restructure also establishes Global Infrastructure
Citi Recruits Hessberger to Lead Newly Formed Financial Investors Group
Citigroup's Strategic Leadership Changes and New Group Formation
Appointment of Klaus Hessberger
April 24 (Reuters) - Citigroup has hired investment banking veteran Klaus Hessberger to co-lead its newly formed Financial and Strategic Investors (FSI) arm, according to an internal memo seen by Reuters on Friday.
Transition from Global Asset Managers to FSI Arm
The banking giant is replacing its Global Asset Managers (GAM) group with the FSI arm, which will focus on financial sponsors, sovereign wealth funds, and family offices, said the memo from Citi's Head of Banking and Executive Vice Chair, Vis Raghavan.
Leadership Team for FSI
Hessberger, who is currently the global co‑head of Lazard's Financial Sponsors Group will co-lead FSI out of London with current North America GAM leaders, Michael Marcus and Michael Quadrino, the memo showed.
Changes in Current Leadership
Current GAM leader Ashu Khullar will step down and explore other senior roles within the company, the note added.
Background of Klaus Hessberger
Incoming investment banker Hessberger has over three decades of experience in the industry, including 25 years at JP Morgan in several senior leadership roles.
Expansion of Infrastructure Coverage
Establishment of Global Infrastructure Coverage
Additionally, the memo said Citi will establish Global Infrastructure Coverage as an independent vertical led by insider Todd Guenther in the midst of exceptional levels of activity within the infrastructure space.
Reporting Credits
(Reporting by Prerna Bedi in Bengaluru and Anousha Sakoui in London)
Key Takeaways
- •The new Financial and Strategic Investors (FSI) group will replace Citi’s Global Asset Managers unit, signaling a strategic reorientation toward financial sponsors, sovereign wealth funds, and family offices (globalbankingandfinance.com).
- •Citi has recruited Klaus Hessberger, Lazard’s global co‑head of Financial Sponsors, to co‑lead the FSI group in London, alongside North America GAM leads Michael Marcus and Michael Quadrino (globalbankingandfinance.com).
- •Citigroup is also establishing Global Infrastructure Coverage as a standalone vertical led by Todd Guenther, responding to heightened activity in infrastructure finance (globalbankingandfinance.com).
References
Frequently Asked Questions about Citi hires Lazard's Hessberger to co-lead new financial investors group
1Who has Citi hired to co-lead its new Financial and Strategic Investors (FSI) group?
Citi has hired Klaus Hessberger, previously at Lazard, to co-lead its newly formed FSI group.
2What group is Citi's new FSI arm replacing?
Citi's FSI arm is replacing its Global Asset Managers (GAM) group.
3Who will co-lead the FSI group alongside Klaus Hessberger?
Michael Marcus and Michael Quadrino, current North America GAM leaders, will co-lead FSI with Klaus Hessberger.
4Where will Klaus Hessberger be based for his new role with Citi?
Klaus Hessberger will co-lead Citi's FSI group out of London.
5What new vertical is Citi establishing besides the FSI group?
Citi will establish a Global Infrastructure Coverage vertical led by Todd Guenther.
