Two senior dealmakers from Citigroup in the UK have left the bank to join rival firms in prominent positions, marking the latest departures from Citigroup.
Alex de Souza, who previously led Citigroup's UK industrials dealmaking team, is reportedly transitioning to Jefferies as co-head of investment banking for the UK and Ireland, as per sources familiar with the situation.
He will join forces with former HSBC banker Philip Noblet, who has been leading Jefferies’ UK team since 2018, to co-lead the growing unit. De Souza will focus on UK industrials and business services.
In addition, Luke Spells, a managing director at Citigroup responsible for overseeing its coverage of UK mid-cap companies, is also departing from the bank.
Spells, who boasts over a decade of experience at Citigroup, is poised to assume the role of head of UK advisory at Investec, as per sources familiar with the situation. Prior to rejoining Citigroup in 2014, he spent four years at the corporate finance boutique Hawkpoint.
On the other hand, De Souza joined Citigroup in 2016 after his tenure at Barclays, where he served as a managing director in the UK corporate finance team. He brings with him extensive experience, having held senior positions at Deutsche Bank as well.
Citigroup has completed a major overhaul of its business, code-named Project Bora Bora, which saw thousands of jobs cut as it stripped out management layers at the end of the first quarter.
