| NEW YORK, March 20
NEW YORK, March 20 Credit Suisse Group AG
has hired senior banker Frank Napolitano from RBC
Capital Markets to lead its global power and renewables
practice, according to an internal memo reviewed by Reuters.
Napolitano, based in New York, will take the role of global
head of power and renewables in the investment banking
department and will work with John Cogan and Ahmad Masud in the
Americas region and the other regional heads of the industry
group, the memo showed.
A Credit Suisse spokesman confirmed the contents of the
memo, which was signed by Jim Amine, Credit Suisse's global head
of the investment banking department.
Napolitano, who will start in June and report to Amine, will
cover clients including private equity firms active in the
energy sector, independent power producers and utilities,
according to the document.
At RBC, he served as the head of the U.S. power and
utilities group since 2010. Prior to that, he was the president
of Lakeside Energy, a Chicago-based energy investment firm. He
also spent 11 years at Lehman Brothers.
In his new role, Napolitano will succeed Jamie Welch, who
left Credit Suisse in July to become chief financial officer and
head of corporate development at Energy Transfer Equity LP
, a diversified energy company based in Houston, Texas.
Some of the recent deals Credit Suisse advised on in the
power and renewables sector include the $1.3 billion sale of an
equity stake in Freeport LNG to IFM Investors in December, as
well as the $950 million sale of New Mexico Gas to Teco Energy
The bank's power group generated roughly $406 million worth
of investment banking fees between 2011 and 2013, ranking first
in the industry league tables.
(Editing by Matthew Lewis)