Cary Kochman Explained

Cary Kochman
Nationality:American
Education:
Occupation:Banker
Years Active:1999-present
Employer:Citigroup
Known For:
  • Strategic advisor who has completed over $1 trillion worth of transactions
  • Featured lecturer, speaker, and panelist
Boards:Board of Trustees for the Council for Emerging National Security Affairs (CENSA)

Cary Allan Kochman (born April 1965) is an American banker and the Sole Head of the Global Mergers and Acquisitions Group at Citigroup,[1] as well as the Chairman of the Chicago Citi office.[2] He is also a member of the Global Investment Banking Operating Committee. He is a Mergers and Acquisitions expert[3] .

Kochman has 30-plus years of investment banking experience. For more than twenty years, he served as the head of three leading Wall Street M&A Groups.[4] Kochman specializes in mergers, acquisitions, activism defense, strategic hostile defense, divestitures, corporate takeovers, and is also a leading cross-border M&A expert. He serves as an advisor to board of directors, special committees, management teams, foundations, and governments. He has advised on over $1 trillion of transactions.[5] [6] Kochman is also a featured lecturer, speaker and panelist at numerous graduate programs, academic conferences, corporate meetings, seminars, and events.[7] [8] [9] [10] [11] [12] [13]

Early life

Cary Kochman graduated from the Honors College at the University of Illinois at Chicago in 1986 with a BS in accounting.[14] Kochman also studied philosophy (with an emphasis on epistomology) through the Honors College. He continued his education at the University of Chicago, where he received his J.D. from the University of Chicago Law School and his MBA from the Booth School of Business in 1990.[15] While at the University of Chicago, he attended the London Business School and was also awarded a Nikko Fellowship for study in Tokyo, Japan.[16] Kochman is a member of the Illinois Bar and has completed both the C.P.A. and C.M.A. exams.

Career

Today, Cary Kochman serves as the Sole Head of Global Mergers and Acquisitions Group and the Chairman of Chicago Citi office for Citigroup Global Markets Inc.[17] He is a member of the Global Operating Committee for BCMA (Banking, Capital Markets & Advisory). He joined Citigroup in 2011[18] [19] upon resigning his position at UBS[20] [21] [22] as the Joint Global Head of Mergers & Acquisitions.[23]

Kochman was recruited to UBS in March 2004 as Co-Head of Americas Mergers & Acquisitions.[24] [25] [26] [27] [28] [29] [30] [31] [32] During his tenure at UBS, he also served as Co-Head of the Investment Banking Department's (IBD's) Chicago office and Midwest Region. He also was a member of the UBS Americas IBD Executive Committee.[33]

Before joining UBS in 2004, Kochman worked at Credit Suisse[34] [35] (formerly known as Credit Suisse First Boston).[36] He held the position of Head of the US M&A Department for the last two of his fourteen years with the company,[37] [38] prior to which he held various senior positions at Credit Suisse, including Head of Industrial Corporate Advisory & Finance and Head of Industrial M&A.<ref name="auto1"/>[39] [40]

Advisory experience

Over the course of his career, Kochman has advised on over $1 trillion worth of transactions.[41] He works as a strategic advisor across all industries and sectors. He advised Shire (FTSE top 20 Company) on its $82 billion sale to Takeda Pharmaceutical.[42] This transaction is the largest Japanese M&A transaction in history, and on announcement was the largest healthcare M&A transaction in history and the 4th largest cross-border deal in history.

He advised France's Schneider Electric on their acquisition of Larsen & Toubro's Electrical and Automation division (based in India). He also worked with GGP and American National Bank on their respective sale transactions to Brookfield Property Partners.[43]

He served as an advisor to Rockwell Collins on their sale to United Technologies for over $30 billion. He advised Deere & Company on their $5.2 billion acquisition of German private company Wirtgen.

He advised on Baxalta's $38 billion cross-border sale to Shire.[44]

He advised Schneider Electric’s acquisition of the remaining public state in Aveva[45] [46] .

Kochman served as a financial advisor to Catalent during their February 2024 sale to Novo Holdings for $16.5 billion[47] [48] .

Over the course of his career he has advised on numerous high-profile transactions including: ISCAR's sale to Warren Buffett's Berkshire Hathaway, URS merger with AECOM, Bucyrus International on its sale to Caterpillar, the sale of Tim Horton's to Burger King[49] & 3G, Robbins & Myers’ sale to National Oilwell Varco, the merger of Eaton & Cooper Industries, Verint's merger with Comverse Technology, Whitman's realignment with PepsiCo and subsequent acquisition of Pepsi Americas, Zimmer Holdings’ cross-border hostile takeover of Centerpulse AG (named "deal of the year")[50] and the Margaret Cargill Foundation with regard to their Cargill stake monetization via the tax efficient split-off of Mosaic.[51] This monetization funded the Margaret A. Cargill Philanthropies, creating the world's third largest funded charitable trust.[52]

Memberships and organizations

Cary Kochman has formerly served as a member of The University of Chicago Law School Visiting Committee,[53] as well as a member of the "Council on Chicago Booth",[54] a committee that advises The University of Chicago Booth School of Business.

Cary Kochman is an advisory board member of GreenLight Chicago. He is a past member of the board of trustees for the Council for Emerging National Security Affairs (CENSA).[55] He also served for more than a dozen years as Trustee of the Shedd Aquarium.[56] [57] He is also a member of numerous civic organizations, including The Commercial Club of Chicago.[58] In the past, he served on the advisory board for L.E.K. Consulting.[59] [60]

Notes and References

  1. Web site: Citi's exec shuffle continues as M&A co-head retires . 2023-05-09 . Banking Dive . en-US.
  2. News: The winds of change blow through downtown Chicago. Grant. Jeremy. 2004-07-16. Financial Times. 2017-05-21. Politi. James. 0307-1766.
  3. Web site: Maren . 2024-06-17 . How Political Climate Affects Mergers and Acquisitions . 2024-08-02 . The News Hub . en-US.
  4. Web site: Citi proves there is life left in M&A mega-deals. Thebanker.com. 11 April 2022.
  5. 2016 London Participant Biographies. xbma.org. 2016-11-11. https://web.archive.org/web/20160915011618/http://xbma.org/Files/XBMA-2016%20London%20Participant%20Biographies.pdf. 2016-09-15. dead.
  6. News: U.S. dominates Q2 global M&A as mega deals roll on. 2019-06-28. Reuters. 2019-08-14. en.
  7. Web site: Alumni Event Details. The University of Chicago Booth School of Business. 2017-05-21.
  8. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20161112034559/http://commencement.uic.edu/docs/CBA_14.pdf . 2016-11-12 . dead .
  9. Web site: Cary Kochman (lo-res). UIC News Center. en-US. 2017-05-21.
  10. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20161112032228/https://www.foley.com/files/Publication/42dc5f0a-88fd-4dcb-bdb8-dcba058eb67b/Presentation/PublicationAttachment/5fc58ccd-a48a-4e5f-a5ee-dfd480f47d7d/HostileBids.pdf . 2016-11-12 . dead .
  11. 2007. Board Considerations in Going Private or Going Dark. Foley & Lardner. 2016-11-11. https://web.archive.org/web/20161112034034/https://www.foley.com/files/Publication/f0e14e1d-95db-41a5-a953-6759eebc9bc5/Presentation/PublicationAttachment/654be711-0432-499f-80f9-6777bc9eb013/BoardConsiderationsGoingPrivateGoingDark.pdf. 2016-11-12. dead.
  12. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20161112034611/https://www.foley.com/files/Event/a36784bc-08b6-4976-a6ae-53ee725b1ee6/Presentation/EventAttachment/0dc84041-f3c6-4398-87fc-5489f9a6166f/BestPractices.pdf . 2016-11-12 . dead .
  13. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20161112031010/https://www.foley.com/files/Event/17eb437e-24ab-49ae-a664-a9914102f9f2/Presentation/EventAttachment/14e6bb9b-0b67-410f-a1f5-ae35215b2ed8/NDIExEx_Booklet.pdf . 2016-11-12 . dead .
  14. Web site: UIC Business Alumni | UIC Business - University of Illinois at Chicago . 2016-06-13 . https://web.archive.org/web/20160528103727/http://business.uic.edu/uic-business-alumni . 2016-05-28 . dead .
  15. Web site: Chicago Booth Magazine: Winter 2013 . 2016-11-11 . https://web.archive.org/web/20161112032006/https://www.chicagobooth.edu/magazine/35/1/letters/letters2.aspx . 2016-11-12 . dead .
  16. Web site: Cary Kochman. Transaction Advisors. 2017-05-21.
  17. News: Hirch. Lauren. Corporate makeovers drive corporate takeovers in 2016 M&A bonanza. 4 June 2017. Reuters. 20 December 2016.
  18. Web site: 2014 Top50 North America ma Investment Bankers « Global M&A Network . 2015-03-13 . https://web.archive.org/web/20150402112918/https://globalmanetwork.com/2014-top50-north-america-ma-investment-bankers/ . 2015-04-02 . dead .
  19. News: Mega Deals Mask Stagnant Mid-Sized M&A Market That Pays More. Welch. David. 2013-10-01. Bloomberg.com. 2017-05-21. Campbell. Matthew.
  20. News: UBS bankers join Citi as talent bleed continues. 2017-06-01. Reuters. 2017-05-21.
  21. News: Citi Hires 2 More UBS Bankers as Exodus Continues. de la Merced. Michael J.. 2011-06-01. DealBook. 2017-05-21. The New York Times. en.
  22. Web site: Breaking: UBS Loses Co-M&A Boss Cary Kochman to Citigroup. Chon. Gina. 2011-06-01. WSJ. 2017-05-21.
  23. Web site: AT&T cliffhanger adds uncertainty into otherwise favorable year for global M&A . ABC News. 12 February 2018 . 2018-02-17.
  24. News: CSFB promotes Miller to replace Kochman. Meehan. Caroline. 2017-05-21. en-GB.
  25. News: UBS hires Kochman from CSFB. Meehan. Caroline. 2017-05-21. en-GB.
  26. News: Ups and downs in the world of dealmaking. Financial Times. 6 December 2010.
  27. News: Stock Is the New Cash in Recent Acquisitions. DealBook. 2 October 2009 . 2017-05-21. en.
  28. News: Buying American -. Hahn. Avital Louria. 2007-11-01. CFO. 2017-05-21. en-US.
  29. News: Weak market pushes deal-failures to record. Reuters India. 2017-05-21. en-IN.
  30. News: UBS jumps ranks in U.S. deals during Q1. 2017-03-26. Reuters. 2017-05-21.
  31. News: UBS' LeBrun retires from M&A role. 2017-04-29. Reuters. 2017-05-21.
  32. Web site: UBS Co-Head of Americas M&A Lee LeBrun Plans to Retire in May - Compliancex | Compliancex . 2017-02-05 . https://web.archive.org/web/20170206104228/http://compliancex.com/ubs-co-head-of-americas-ma-lee-lebrun-plans-to-retire-in-may/ . 2017-02-06 . dead .
  33. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20161112034514/https://www.foley.com/files/Event/a7ece93b-181e-4d33-948d-0c45dd7c5d88/Presentation/EventAttachment/c6c76767-bf6f-4725-989e-1065197383dc/BoardConsideration-PrivateDark.pdf . 2016-11-12 . dead .
  34. News: CSFB's Kochman jumps to UBS. Beltran. Luisa. MarketWatch. 2017-05-21. en-US.
  35. News: Why investment bankers are no longer BMOCs. Crain's Chicago Business. 2017-05-21.
  36. News: Credit Suisse drops a name: First Boston. Wright. Tom. 2005-06-30. The New York Times. 2017-05-21. 0362-4331.
  37. Web site: Two Veteran CSFB Bankers To Retire As Restructuring Presses On. 2002-03-20. Institutionalinvestor.com. 2017-05-21. https://web.archive.org/web/20161112015042/http://www.institutionalinvestor.com/Article/1038078/Search/Two-Veteran-CSFB-Bankers-To-Retire-As-Restructuring.html. 2016-11-12. dead.
  38. News: Bank One exit not just a blow to Chicago's ego. Chicago Tribune. 2017-05-21. en.
  39. News: Kochman building new client relationships at Citigroup. Crain's Chicago Business. 2017-05-21.
  40. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20100705072711/http://www.csfb.com/company_info/assets/00_annual.pdf . 2010-07-05 . dead .
  41. http://www.xbma.org/Files/XBMA-2016
  42. News: Fournier . Elizabeth . Evercore Claims Spot in Advisory Top Five on Takeda-Shire Role . Bloomberg Quint . 8 May 2018.
  43. News: Breakingviews - Takeda swallows big dose of risk to buy Shire. Reuters. 8 May 2018.
  44. News: Shire Wins Baxalta With Revised $32 Billion Bid, Adding Cash. 2016-01-11. Bloomberg.com. 2017-05-21.
  45. Web site: migrator . 2022-09-30 . Global Dealmaking Plunges As Financing Market Hits Rock Bottom . 2024-08-02 . NDTV Profit . en.
  46. News: September 30, 2022 . Global dealmaking plunges as financing market hits rock bottom .
  47. Web site: Dealytics Weekly M&A Review . 2024-08-02 . www.linkedin.com . en.
  48. News: May 29, 2024 . Catalent stockholders approve buyout by Novo Holdings . Reuters.
  49. News: Burger King to Buy Tim Hortons for About $11 Billion. 2014-08-26. Bloomberg.com. 2017-05-21.
  50. Web site: 2020.
  51. News: Cargill to Give Up Mosaic Stake in $24.3 Billion Deal. Chon. Gina. 2011-01-19. Wall Street Journal. 2017-05-21. Das. Anupreeta. 0099-9660. Kilman. Scott.
  52. News: A $9-Billion Philanthropic Windfall. 2011-01-21. The Chronicle of Philanthropy. 2017-05-21.
  53. Web site: Secure Directory | Visiting Committees & Councils | the University of Chicago.
  54. Web site: Council on Chicago Booth. The University of Chicago Booth School of Business. en. 2017-05-21.
  55. Web site: The Council for Emerging National Security Affairs (CENSA) - Board of Trustees. Censa.net.
  56. Web site: Board of Trustees . Sheddaquarium.org.
  57. http://www.sheddaquarium.org/Documents/Annual
  58. Web site: Archived copy . 2016-11-11 . https://web.archive.org/web/20111009100544/http://www.xbma.org/Files/XBMA2009Symposium.pdf . 2011-10-09 . dead .
  59. https://www.bloomberg.com/research/stocks/people/person.asp?personId=22827476&privcapId=416620
  60. https://www.bloomberg.com/research/stocks/private/relationship.asp?personId=337564&privcapId=214638468&previousCapId=356418&previous

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