City moves: Citi’s head of UK investment banking on the move
Citi’s head of UK investment banking Andrew Truscott has been appointed CEO of John Laing Group.
John Laing, which is backed by private equity firm KKR, is an investor and manager of core infrastructure assets.
Truscott has been at Citi since 2018, and will join John Laing in early summer. Before joining Citi he spent 15 years at JP Morgan focusing on infrastructure, construction and industrial services markets.
He became head of Europe at the JP Morgan Infrastructure Investments Fund in 2015.
Truscott originated and completed a range of European investments and was responsible for transformation programmes at a number of portfolio companies.
Tara Davies, co-head of European Infrastructure at KKR, said: “Andrew’s strengths as a leader, investor and originator of new business, together with his extensive network of relationships across the infrastructure market, will prove invaluable to John Laing.
“He has a successful track record of building and managing complex businesses, transforming organisations and building strong relationships with stakeholders,” Davies continued.
John Laing was taken private by KKR in September 2021 in a deal worth £2bn. It owns a range of assets including schools, hospitals and core infrastructure. Most of these assets are based in North America or Australia.
According to Financial News, Robert Way has been promoted to lead Citi’s UK investment banking operation following Truscott’s departure.