Bloomberg News

Lazard Said to Hire Credit Suisse Chemicals Banker Whitney

July 29, 2011

July 29 (Bloomberg) -- Lazard Ltd., the biggest non-bank merger adviser, hired Richard Whitney, co-head of chemicals investment banking at Credit Suisse Group AG, said a person with knowledge of the matter.

Whitney, who is based in New York, will join Lazard later this year, said the person, who spoke on condition of anonymity because the move hadn’t been publicly disclosed. Whitney joined Donaldson, Lufkin & Jenrette in 1986 and stayed on after its sale to Credit Suisse in 2000, according to records from the Financial Industry Regulatory Authority.

Lazard is adding bankers as the market for mergers and acquisitions advice rebounds. Hamilton, Bermuda-based Lazard said yesterday it got $394 million of revenue from M&A and strategic advice in the first half of 2011, an 18 percent increase from the same period a year earlier. Recent hires include Greenhill & Co.’s Timothy George and UBS AG’s Gary Howe.

Monica Orbe, a Lazard spokeswoman, said she couldn’t comment, as did Jack Grone of Credit Suisse. A call to Whitney’s office wasn’t immediately returned.

Whitney helped MacDermid Group Inc. Chief Executive Officer Daniel Leever take his company private for about $1 billion in 2006. In 2004, he advised KKR & Co. on the sale of its Borden Chemical Inc. to Apollo Management LP, according to Corporate Control Alert, an industry newsletter.

Lazard was the 10th-biggest adviser on mergers and acquisitions of chemical companies in the past five years, working on $31.9 billion of transactions, according to data compiled by Bloomberg. Zurich-based Credit Suisse was sixth with $43.4 billion. Morgan Stanley was first.

--Editors: William Ahearn, Steve Dickson

To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net;

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net.


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