Citigroup Created Dedicated Chemicals Banking Team
The bank appointed two new co-heads to manage growing deal activity in the chemicals sector.
Updated on Sept. 28, 2026 in People
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Citigroup has launched a standalone sector team for chemicals investment banking to capture a revival in industry deal flow. The bank appointed Chris Power and Arkadi Nachimowski as co-heads to lead the unit.
Why it matters
The formation of this dedicated team signals that Citigroup expects sustained growth in chemicals M&A and financing. This shift moves the coverage away from a broader natural resources group to prioritize industry-specific expertise.
Citigroup named two co-heads to lead its new, standalone chemicals investment banking team. This unit replaces the prior model where chemical sector transactions were handled within the bank's natural resources group.
The players
Citigroup
A global financial services firm providing corporate banking, investment banking, and capital market services to multinational enterprises.
Chris Power
An investment banker who joined from JPMorgan Chase & Co. to serve as co-head of the chemicals investment banking team.
Arkadi Nachimowski
An investment banker formerly with JPMorgan Chase & Co. now serving as co-head of the chemicals investment banking team.
JPMorgan Chase & Co.
A global financial institution and the prior employer of both newly appointed chemicals banking co-heads.
The details
Citigroup is separating chemicals coverage into its own dedicated unit to better capture a recent uptick in deal activity. Both Chris Power and Arkadi Nachimowski were recruited from JPMorgan Chase & Co. to spearhead the new division. By creating a specialized sector team, the bank aims to provide more targeted advisory services to chemicals firms amid signs of sector-wide deal revival.
Timeline
September 28, 2026: Citigroup announced the appointment of the new chemicals co-heads.
Market Landscape
This reorganization represents a strategic pivot from the historical practice of aggregating chemicals coverage within a broader natural resources group. The move follows a documented revival in deal activity, reflecting broader trends of banks specializing sector teams to compete for advisory fees.
Operators in the chemicals space should monitor this change for potential shifts in the availability of sector-specific financing and M&A advisory expertise. Those currently evaluating strategic exits or capital raises should review their banking coverage models to ensure alignment with these new specialized resources.
The takeaway
The consolidation of chemicals banking into a specialized team suggests a competitive environment where depth of sector knowledge is driving deal success. Owners should use this industry signal to reevaluate their own financial advisors' capabilities regarding sector-specific market trends.
Further reading
For additional insights on recent financial sector staffing shifts, visit our People section.
Source note: This article includes information reported by Bloomberglaw.
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