Lazard hires Miller from Citigroup in its energy investment banking drive, sources claim

People familiar with the matter said that Lazard hired Citigroup veteran investment banker Chris Miller to lead its dealmaking efforts within the energy sector.

Miller, who was based in Houston, and had the title of vice-chairman of energy investment banking for Citigroup, recently resigned his position with the Wall Street bank and will begin his new role at Lazard early in 2025, after a period gardening leave, according to the sources.

The sources, who requested anonymity because the matter was confidential, said that Miller would report to George Bilicic. Bilicic is the head of Lazard’s power, infrastructure, energy and investment banking unit.

Miller is a 30-year veteran of investment banking. He spent most of his career with Citigroup, where he advised on deals such as APA Corp.'s $4.5 Billion acquisition of Callon Petroleum. Miller, according to LinkedIn, worked at Lehman Brothers before joining Citigroup.

Lazard & Citigroup declined comment.

Lazard’s move to increase its energy dealmaking ranks comes after a record-breaking merger and acquisition run in the U.S. Energy Industry, driven by the consolidation of oil and gas companies that pursued targets in lucrative shale areas such as the Permian Basin.

Lazard, based in New York, has recruited several high-level professionals to its financial advisory division. Dealmaking has begun to pick up across all sectors after a slowdown due to increased interest rates and volatility on the market.

In its third quarter earnings report, the Bank said that it had added 16 managing director to its ranks during the year ending October 31, and revenue from its financial advisory unit was up 39% from the same time last year. (Reporting and editing by Mark Potter in New York)

(source: Reuters)