Lazard Bolsters Energy Team with Citigroup Veteran

In a strategic move to strengthen its position in the energy investment banking sector, Lazard has hired a prominent Citigroup veteran, Chris Miller, as a managing director. Miller, who previously served as the vice chairman of energy investment banking at Citigroup, brings a wealth of experience to Lazard's power, energy, and infrastructure investment banking unit.

With over 30 years of experience in energy investment banking, Miller has advised numerous energy companies on significant deals throughout his career. His notable contributions include advising APA Corp on its $4.5 billion acquisition of Callon Petroleum. This strategic hire signals Lazard's commitment to capitalizing on the record-breaking run of mergers and acquisitions in the U.S. energy industry, driven by consolidation among oil and gas producers.

Miller's extensive expertise in energy deals aligns perfectly with Lazard's recent merger of its Power, Energy & Infrastructure Advisory practice with the Oil & Gas Advisory team and Lazard’s Climate Center. This combination creates one of the largest independent advisory practices supporting Power, Energy Transition, Infrastructure, and Oil and Gas clients. Miller's hire further solidifies Lazard's position in the energy investment banking landscape.



Lazard's push to bolster its energy dealmaking ranks comes at an opportune time, as the energy sector continues to evolve and adapt to the energy transition. The firm's unique perspectives and thought leadership within the sector, as demonstrated by its Levelized Cost of Energy+ report, position it well to advise clients on the financial impacts, risks, and opportunities presented by climate change and the energy transition.

In addition to Miller's hire, Lazard has recently added several top-level recruits to its financial advisory unit, as dealmaking across sectors has started to rebound following a period of slower M&A activity due to higher interest rates and market volatility. In its third-quarter earnings report, the bank revealed that it had added 16 managing directors to its ranks in the year to Oct. 31, with revenue from the financial advisory unit up 39% during the quarter from the same period a year ago.

As the energy landscape continues to shift, Lazard's strategic moves position it to capitalize on the growing demand for renewable energy and energy transition investments while continuing to support traditional energy clients. The firm's expanded expertise and resources may enable it to outperform peers in the coming years, as the energy sector continues to evolve and adapt.



In conclusion, Lazard's hiring of Chris Miller from Citigroup signals a strategic push to strengthen its energy investment banking capabilities. Miller's extensive experience in advising energy companies on significant deals, such as APA Corp's acquisition of Callon Petroleum, will be invaluable in navigating the evolving energy landscape. As the energy sector continues to evolve, Lazard's expanded expertise and resources may enable it to outperform peers in the coming years.