Lazard Hires Chris Miller for Energy Dealmaking

By David French
(Reuters) – Lazard (NYSE:LAZ) has recruited veteran Citigroup (NYSE:C) investment banker Chris Miller as a managing director to enhance its dealmaking efforts in the energy sector, sources told Reuters on Tuesday.

Miller, based in Houston, previously served as vice chairman of energy investment banking at Citigroup. He recently resigned and will join Lazard in early 2025 following a gardening leave.

In his new position, Miller will report to George Bilicic, head of Lazard’s power, energy, and infrastructure investment banking division. Sources spoke on the condition of anonymity due to the confidential nature of the information.

With over 30 years in investment banking, Miller has extensive experience at Citigroup, advising energy firms on significant transactions such as APA Corp's $4.5 billion acquisition of Callon (NYSE:CPE) Petroleum. Before Citigroup, he was employed at Lehman Brothers, according to his LinkedIn profile.

Both Lazard and Citigroup declined to provide comments on this development.

Lazard's initiative to strengthen its energy dealmaking capability comes after an unprecedented surge in mergers and acquisitions (M&A) within the U.S. energy sector, primarily driven by consolidation among oil and gas companies pursuing lucrative drilling opportunities in shale regions like the Permian Basin.

Headquartered in New York, Lazard has been actively fortifying its financial advisory division by bringing in several top-level executives, coinciding with a rebound in dealmaking across various sectors after a period of muted M&A activity attributed to elevated interest rates and market fluctuations.

In its third-quarter earnings report, Lazard announced it added 16 managing directors within a year leading up to October 31, while revenue from its financial advisory unit surged by 39% compared to the same quarter last year.