Former Citi Execs Form StormHarbour
June 23, 2009
Several former Citigroup executives, including a former managing director in Citi’s European leveraged finance sales team, have formed StormHarbour Partners, a financial services firm that will focus on the capital markets and on fixed income products.
The firm was founded by Antonio Cacorino, who was global co-head of the investor client group at Citi, and Fredrick Chapey Jr., who was head of Citi’s global structured credit derivatives group.
The former managing director in Citi’s leveraged finance sales, Cyril Martinez, will act as a general manager and will be based in Switzerland. Prior to joining StormHarbour, Martinez was responsible for the distribution of leveraged finance products in Europe, the Middle East and South Africa. Prior to that, he was a managing director at Donaldson Lufkin & Jenrette, where he helped develop a distressed debt franchise in Europe, leading the distribution of over €10 billion of high yield bonds.
The new firm will has offices in New York, London, Geneva and Tokyo. Its clients will consist of pension funds, hedge funds, endowments, insurers and banks.
“StormHarbour was created to fill a need for an experienced international fixed income firm free of conflicts in today’s evolving financial services arena,” Chapey said in statement issued today.
In addition to Martinez, StormHarbour’s senior executives include Terry Keeley, a former chief operating officer at Novator Partners; Chris O’Connor, a former senior managing director of global debt syndication and debt capital markets at Bear Stearns; John Stomber, a former chief executive officer at Carlyle Capital Corporation; and Michael Sussman, a former managing director and dead of markets legal at Citigroup.
“We are excited to launch a firm with a talented and seasoned team, a robust infrastructure and a solid capital base to advise and support our clients in these challenging times,” Cacorino said in the statement.
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