Rothschild said to hire Citi's top industrials banker in EMEA
We're deep into the fourth quarter, and have hit the time of year when big front office job moves in investment banks tend not to happen unless a hire is considered heavily strategic. Heiko Horn presumably falls into that category.
Horn, who was head of Citi's diversified industrials franchise in EMEA, is understood to have left for Rothschild.
Citi didn't respond to a request to comment on Horn's exit and Rothschild declined to comment on his imminent arrival.
Horn arrived at Citi from UBS in 2013. He previously spent over a decade at UBS (in two stints) and over seven years at Morgan Stanley.
Citi's M&A advisory revenues declined 11% in the first nine months of 2022 and 27% in the third quarter. Its combined investment banking revenues (M&A, ECM and DCM) were down 63% in Q3. The US bank has been hiring senior bankers this year, including Jens Welter from Credit Suisse, who will run global investment banking out of London. Citi's focus is a new 'super group' comprised of bankers covering bankers covering technology and communications, healthcare and wellness, sustainability and corporate transitions and natural resources and clean energy.
Horn was likely involved in several of these areas. Although he covered industrials, it was with a focus on climate technologies.
Rothschild is likely to have compensated Horn for the loss of his Citi bonus.
Have a confidential story, tip, or comment you’d like to share? Contact: firstname.lastname@example.org in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)