Citi M&A banker moves to boutique paying £546k per head
Citi might be restructuring (and cutting 20,000 people in the process), but that doesn’t mean that its bankers can’t find comfy new homes at some of the world’s best paying boutique banks.
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Michael Gregg spent a decade at Citi across both London and New York, as part of the bank’s M&A teams. He was a director at Citi, and he joined Ardea Partners as an executive director earlier today.
Ardea was founded in 2017 by a group of senior Goldman Sachs bankers. It employed just 15 people in London in 2023, the same number of people as the year before. 2023 was challenging: revenues there fell 17% against 2022, and operating profit dropped 35%. However, average pay per head rose from £496k ($628k) in 2022 to a colossal £564k ($715k) in 2023.
Gregg isn't Ardea's only recent hire. It brought in Simon Lyons last month. Lyons was one of the co-founders of PJT Partners, Paul Taubman’s boutique bank, and was a partner for more than eight years at the firm. He’s a partner at Ardea now, too, and co-head of its European business.
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