Centerview Partners has hired Robin Budenberg and Nick Reid as partners. Previously, Budenberg was chief executive and then chairman of UK Financial Investments while Reid worked at UBS, where he led the UK investment banking business before becoming co-head of the European business.
LONDON, September 3rd, 2014 – Centerview Partners, a leading independent investment banking and advisory firm, announced today that Robin Budenberg and Nick Reid, two highly respected UK corporate finance practitioners, are to join the firm as partners. Centerview, which has clients that include over 20 percent of the 50 largest companies in the world by market capitalization, and which has played a key advisory role in many of the largest and most complex corporate situations and transactions, expects the addition of Robin and Nick to enhance significantly the firm’s capability in the London market.
The firm, founded in 2006 and headquartered in New York with offices in London, Los Angeles, and San Francisco, has advised on over $800 billion in transactions on behalf of its clients, including for such companies as AB InBev, Alliance Boots, AstraZeneca, Avon, Biogen Idec, Capital One, Cisco, General Electric, Hikma, HJ Heinz, Honeywell, JC Penney, Kimberly Clark, Kraft, Mondelēz, Motorola, News Corporation, Pepsi, Polo Ralph Lauren, Smith & Nephew, Twenty First Century Fox and Ventas. Centerview seeks to assist its clients across a broad range of corporate financial and strategic matters, including assistance in mergers and acquisitions, general and activist defence, long-term business planning, capital allocation and balance sheet restructuring, and general corporate matters as part of its long-term partnering with clients. Thus far in 2014 the firm, with $205 billion of transaction execution assistance, ranks #10 globally and #9 in the U.S.
Centerview is well embedded in Europe having advised on nearly $175 billion of transactions.
These include, amongst others, advising Alliance Boots on its two-step combined $27 billion pending merger with Walgreens; Kraft on its $22 billion acquisition of Cadbury; General Electric on its $13 billion pending acquisition of Alstom; Smith & Nephew on its $2 billion acquisition of ArthroCare; and InterMune on its pending $9 billion sale to Roche.
Mr. Budenberg, who will join as Chairman of Centerview London, spent the majority of his career advising major UK companies as an investment banker with S.G. Warburg, both before and after its acquisition by UBS. He provided advice to the UK Government on its bail-out of the banks in 2008 and then served as Chairman of UK Financial Investments (UKFI), the body responsible for managing the Government’s investments in RBS, Lloyds, Northern Rock and Bradford & Bingley.
Mr. Reid will join Centerview as a partner. He comes from UBS, where he was co-head of the European business. Mr. Reid has led some of the firm’s most important client relationships across a number of sectors, including British American Tobacco, The Co-operative Group, Diageo, Kingfisher, Land Securities, Prudential, and Mitchells & Butlers. He was a senior banker at Goldman Sachs and Schroders before joining UBS.
Robert Pruzan, co-founder of Centerview commented, “We are delighted Robin and Nick have agreed to bring their significant experience, talent and judgment to our firm, both in London and around the world.” Co-founder Blair Effron added, “We are very proud of our success in building a firm based on deep, long-term relationships with our clients. Robin and Nick’s dedication to client relationships and to delivering the highest-calibre advice fits squarely within the Centerview culture of which we are so proud.”
Richard Girling, who established the firm in London as the first Centerview Partner in Europe, observed, “As two highly-respected and experienced practitioners, Robin and Nick will immeasurably strengthen our presence in the London and European markets.”
Mr. Budenberg added, “It is a privilege to join a firm that has built its reputation by focusing on long-term strategic relationships and the unique needs of each client. I look forward to being at the heart of the next phase of the firm’s development in the European market.”
Mr. Reid said, “I have long admired Centerview’s client-focused values and highly strategic operating culture. I’m delighted to be joining some of the industry’s most respected professionals and working with them to build on the firm’s broad-based industry sector success. Centerview’s recent success in Europe will be a strong base from which to drive further growth.”
About Centerview Partners
Centerview Partners, based in New York, and with offices in London, Los Angeles and San Francisco, operates an international investment banking advisory practice specializing in independent advice and other client services capitalizing on the experience of its principals. The firm provides senior-level counsel to both domestic and international clients and its business includes general and M&A advisory as well as restructuring. Additionally, the firm has over $700 million of capital under management for investments in the consumer and technology sectors.
Since its founding in 2006, the firm has advised clients in over $800 billion of transactions.
Members of the firm have experience in a range of industries including the consumer products, financial services, food and beverage, entertainment and media, general industrial & chemicals, healthcare, technology, telecommunications, restructuring, retail, and utilities sectors. Among the 26 deals valued over $1 billion on which the firm has advised thus far in 2014, notable examples include: Time Warner Cable on its pending $70 billion sale to Comcast; Lorillard on its $27 billion pending sale to Reynolds American; Beam on its $16 billion sales to Suntory; General Electric on its $13 billion pending acquisition of Alstom; InterMune on its pending $9 billion sale to Roche; and Mondelēz on its coffee joint venture with D.E. Master Blenders.
About Robin Budenberg
Robin Budenberg spent 25 years with S.G. Warburg/UBS Investment Bank in senior management positions, advising the UK’s largest companies. Between 2006 and 2008, he advised a number of companies subject to takeover bids, including BAA, Hilton Group, ICI, Prudential and Reuters. He has advised the UK Government on a number of issues, including the creation of Network Rail, the evolution of the UK nuclear power industry, the financing and sale of the Channel Tunnel rail link, Royal Mail and the £300 billion bailout of the UK banking industry in 2008.
From 2009 to 2013, Mr. Budenberg was Chief Executive, then chairman of UK Financial Investments (UKFI), the managing body of the UK Government’s £100 billion investment in the UK banking industry. Mr. Budenberg led UKFI during a period of unprecedented public and policy scrutiny of the banking industry, promoting the commercial interests of banks in the context of the broader taxpayer interests. His tenure saw the successful sales of Northern Rock bank and a £3.3 billion stake in Lloyds Banking Group.
About Nick Reid
Nick Reid joins Centerview from UBS, where he led the UK investment banking business before going on to be co-head of the European business. In this role, Mr. Reid oversaw key corporate relationships across sectors including British American Tobacco (BAT), Kingfisher, Prudential,
The Co-operative Group, Diageo, Land Securities, Unilever, International Airlines Group (IAG), and Mitchells & Butlers. Mr. Reid led the UK investment banking business at Goldman Sachs before joining UBS.
Mr. Reid has led a number of landmark transactions at UBS, including the de-merger and sale of the U.S. and Australian beverage businesses of Cadbury Schweppes, the defences for Cadbury and Mitchells & Butlers, the merger of British Airways and Iberia, the rescue of The Co-operative Bank and its subsequent recapitalization, BAT’s acquisition in Indonesia and equity injection in support of the recently-announced Reynolds American/Lorillard merger, and recent deals by Unilever in the U.S., India and Europe.