Greenhill & Co., the advisory firm planning to add five to 10 managing directors this year, hired Jean-Michel Steg as a senior adviser to help the company develop business with French corporations.
Steg, 59, was previously a senior managing director at Blackstone Group LP and opened that firm’s advisory business in France, New York-based Greenhill said today in a statement. He earlier was head of French and Belgian banking at Citigroup Inc. and ran investment-banking units for both Donaldson, Lufkin & Jenrette and Goldman Sachs Group Inc. in France.
Chief Executive Officer Scott Bok, 53, said in January that Greenhill’s and other advisory firms’ results could be “materially better” if European markets recover the way those in the U.S. have. In anticipation of a global pickup in deal activity, Greenhill has been adding managing directors, including at least seven last year. The firm said last month it hired Carl-Georg Bauer-Schlichtegroll in London to focus on European financial companies.
“The euro zone is going through a difficult period and we could not think of a more qualified person to help us bring our global capabilities and reach to the attention of French companies who value independent advice,” David Wyles and Luca Ferrari, co-heads of European corporate advisory, said in today’s statement.
About $194.6 billion of deals have been announced this year in Europe, according to data compiled by Bloomberg. That compares with $212.7 billion announced during the same period last year.