Lazard Ltd., the largest independent merger adviser, hired Eric Medow from Citigroup Inc. as co-head of its technology, media and telecommunications business.
Medow, 47, will be a managing director based in New York and split oversight of the group with Paul Haigney in San Francisco, Lazard said Thursday in a statement. He fills the vacancy left by Woody Young, a spokeswoman said in a phone interview. Young was hired by Perella Weinberg Partners LP.
The search for dealmakers has intensified among advisory firms as mergers and acquisitions are on pace this year to reach record volume globally. In May, Evercore Partners Inc. hired Goldman Sachs Group Inc.’s Tom Stokes for its technology practice, and Greenhill & Co. this week promoted three dealmakers to replace tech-banker Dhiren Shah, who left for Credit Suisse Group AG.
Medow’s “relationships, industry knowledge and experience make him a strong addition,” Alexander Stern, chief executive officer of Lazard’s financial-advisory unit, said in the statement.
Medow was most recently head of Citigroup’s global telecommunications group, according to the statement. He earlier was a managing director at Carlyle Group LP.
“We have a deep and talented bench,” Robert Julavits, a Citigroup spokesman, said when asked about Medow’s departure.