AEA Investors Grabs New Partner from CSFB –

Credit Suisse First Boston last month lost John Garcia, one of its top European investment bankers, when he left to join AEA Investors.

Mr. Garcia, most recently the head of the global chemicals group and European leveraged finance group based in London, resigned from CSFB to join AEA as a partner in its New York offices. At CSFB he had reported to Charles Ward, head of global investment banking, and Chris Carter, head of European investment banking.

Mr. Garcia could not be reached for comment. A CSFB spokesperson confirmed that Mr. Garcia had left the investment bank but would not comment on his replacement.

During the last few years, Mr. Garcia has been involved in the acquisition and financing of some of the chemical industry’s larger transactions, including Praxair’s buyout of CBI, Jon Huntsman’s acquisition of Texaco Chemicals, and the team-up between Sterling Group and Unicorn Group to acquire Sterling Chemicals.

Mr. Garcia joined CSFB in 1994, after having been co-head of the chemicals banking practice at Wertheim Schroder for roughly two years.

The investment banking world recently has taken some body blows from LBO shops looking to build their line-ups, and access to deal flow, by recruiting top-tier investment bankers. In the last few months, David Webb, a Merrill Lynch & Co. banker who specialized in financial buyer transactions, left to join Brera Capital Partners (BUYOUTS March 8, p. 3), and Philip Berney, a top high-yield executive at Bear, Stearns & Co., jumped to buyout firm Kelso & Co. (BUYOUTS Jan. 25, p. 6).

At AEA, Garcia will join another former investment banker, Martin Murrer, who recently left Donaldson, Lufkin & Jenrette to become a principal.