Bloomberg News

BofA Said to Add Citigroup’s McKee for Energy Corporate Banking

February 17, 2012

Feb. 16 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. lender by assets, hired Citigroup Inc.’s J. Nicholas McKee to help the firm lend money in the energy industry, said two people with knowledge of the matter.

McKee will work in Bank of America’s energy and power corporate-banking group, said the people, who spoke on condition of anonymity because the appointment hasn’t been announced. McKee served as co-head of Citigroup’s corporate and investment banking group for power companies.

Chief Executive Officer Brian Moynihan named Christian Meissner last month as Bank of America’s sole head of corporate and investment banking, putting him in charge of units that cater to large companies. Corporate banking, which includes lending and treasury services, brought $5.5 billion of net revenue in 2011, unchanged from a year earlier. Average loans and leases at the unit rose 29 percent in the fourth quarter.

McKee has been at New York-based Citigroup or a predecessor since at least 1993, according to records on the website of the Financial Industry Regulatory Authority. He was promoted to co- head of the power group last year.

Louise Hennessy, a spokeswoman for Charlotte, North Carolina-based Bank of America, and Citigroup’s Mark Costiglio said they couldn’t comment.

--Editors: Rick Green, David Scheer

To contact the reporters on this story: Zachary R. Mider in New York at zmider1@bloomberg.net; Hugh Son in New York at hson1@bloomberg.net

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


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