Nacho Gutierrez-Orrantia, one of Citigroup Inc.’s top bankers in Europe, is set to stay at the firm following reports he will leave for Spanish gas distributor Naturgy Energy Group SA, people with knowledge of the matter said.
(Bloomberg) — Nacho Gutierrez-Orrantia, one of Citigroup Inc.’s top bankers in Europe, is set to stay at the firm following reports he will leave for Spanish gas distributor Naturgy Energy Group SA, people with knowledge of the matter said.
Gutierrez-Orrantia informed senior Citigroup dealmakers this week that he plans to remain in his role at the bank, the people said, asking not to be identified because the information is private. He currently serves as Citigroup’s co-head of banking, capital markets and advisory for Europe, the Middle East and Africa.
Representatives for Citigroup and Naturgy declined to comment, while Gutierrez-Orrantia couldn’t immediately be reached for comment.
Spain’s Cinco Dias reported last week that Gutierrez-Orrantia was the top pick to become chief executive officer of Naturgy as part of a push to split the chairman and CEO roles. Naturgy’s major shareholders include Spanish investment holding company CriteriaCaixa SA, as well as private equity firms CVC Capital Partners and Global Infrastructure Partners and Australian fund manager IFM Investors Pty.
CriteriaCaixa, the company’s biggest investor, on Monday issued a rare statement saying it fully supports Naturgy’s current chairman and CEO, Francisco Reynes.
Gutierrez-Orrantia was named head of Citigroup’s EMEA investment bank in 2021. He became co-head after Citigroup last year hired Credit Suisse banker Jens Welter to work alongside him.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.