After Merrill Lynch & Co. ousted Stan O'Neal as chairman and CEO last year, the firm hired Alberto Cribiore as interim nonexecutive chairman. He led a search committee to replace O'Neal and found NYSE Euronext Group CEO John Thain. After what he sees as "positive strides in the past nine months" by Thain, Cribiore resigned as a member of the board and lead director of Merrill. On Sept. 8, he'll join Citigroup Inc.'s institutional clients group as a vice chairman, reporting to CEO of the group, John Havens. Cribiore (pictured) will also work closely with investment banking co-heads Raymond McGuire and Alberto Verme.
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Cribiore was also managing partner of Brera Capital Partners, a private
equity firm founded in 1997. He will act as Brera's nonexecutive
chairman as it continues its liquidation. The Deal's David Carey wrote
Cribiore's glory years in LBOs may have passed.
From 1985 to 1997 Cribiore was a top partner at Clayton, Dubilier &
Rice Inc., a New York buyout firm. Brera, the New York buyout boutique
he founded with Jun Tsusaka, hadn't raised an investment fund since
1998, Carey noted, or done an acquisition since it bought 2-10 Home
Buyers Warranty in 2002 -- most of its original cast of principals,
including Tsusaka, had departed.
In July, as Dow Jones notes,
Michael Klein, who was chairman of the institutional clients business
and regarded as Citi's top relationship banker, left the firm to pursue
opportunities in private equity. That makes
Cribiore's role
even more important as his task will be to use his extensive
connections to maintain and build Citigroup's clientele, post-subprime
debacle. -
Baz HiralalSee press release: Citigroup hires Alberto CribioreSee the story from Dow JonesRead past story from TheDeal.comFor more Movers & shakers see The Deal newsweekly's dealmaker section
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