Cary Kochman

Cary Allan Kochman (born April 1965) is an American banker and the Co-Head of Global Mergers and Acquisitions Group at Citigroup as well as the Head of the Chicago Citi office.[1]

Cary Kochman
NationalityAmerican
EducationUniversity of Illinois at Chicago, University of Chicago Law School and Booth School of Business
OccupationAmerican Banker

Kochman has 30 years of investment banking experience. Over the past sixteen years, he served as the head of three leading Wall Street M&A Groups.[2] Kochman specializes in mergers, acquisitions, activism defense, strategic hostile defense, divestitures, corporate takeovers, and is also considered 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 $850 billion of transactions.[3][4] Kochman is also a featured lecturer, speaker and panelist at numerous graduate programs, academic conferences, corporate meetings, seminars, and events.[5][6][7][8][9][10][11]

Early life

Cary Kochman graduated from the Honors College at the University of Illinois at Chicago in 1986 with a BS in Accounting.[12] 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.[13] While at the University of Chicago, he attended the London Business School and was also awarded a Nikko Fellowship for study in Tokyo, Japan.[14] 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 Co-Head of Global Mergers and Acquisitions Group and the Head of the Chicago Citi office for Citigroup Global Markets Inc.[15] He joined Citigroup in 2011[16][17] after leaving his position at UBS[18][19][20] as the Joint Global Head of Mergers & Acquisitions.[21]

Kochman was recruited to UBS in March 2004 as Co-Head of Americas Mergers & Acquisitions.[22][23][24][25][26][27][28][29][30] 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 served a member of the UBS Americas IBD Executive Committee.[31]

Before joining UBS in 2004, Kochman worked at Credit Suisse[32][33] (formerly known as Credit Suisse First Boston).[34] He held the position of Head of the US M&A Department for the last two of his fourteen years with the company,[35][36] prior to which he held various senior positions at Credit Suisse, including Head of Industrial Corporate Advisory & Finance and Head of Industrial M&A.[37][38][39]

Advisory experience

Over the course of his career, Kochman has advised on over $850 billion worth of transactions.[40] He works as a strategic advisor across all industries and sectors. He recently advised Shire Plc (FTSE top 20 Company) on its $82 billion sale to Takeda Pharmaceutical.[41] This transaction is the largest Japanese M&A transaction in history, the 2nd largest healthcare M&A transaction in history and the 4th largest cross-border deal in history. In 2018, he advised France's Schneider Electric SE on their pending acquisition of Larson and Toubro's Electrical and Automation division (based in India). He also worked with GGP on its sale to Brookfield Property Partners.[42][43] He served as an advisor to Rockwell Collins on their recent sale to United Technologies for over $30 billion. He advised Deere & Company on their $5.2 billion acquisition of German private company Wirtgen. In 2016, he advised on what was the largest announced and closed deal in North America: Baxalta's $38 billion cross-border sale to Shire plc.[44] 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,[45] the sale of Tim Horton's to Burger King[46] & 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")[47] and the Margaret Cargill Foundation with regard to their Cargill stake monetization via the tax efficient split-off of Mosaic.[48] This monetization funded the Margaret A. Cargill Philanthropies, creating the world's third largest funded charitable trust.[49]

Memberships and organizations

Cary Kochman has formerly served as a member of The University of Chicago Law School Visiting Committee,[50] as well as a member of the "Council on Chicago Booth",[51] a committee that advises The University of Chicago Booth School of Business.

He's a member of the Board of Trustees for the Council for Emerging National Security Affairs (CENSA)[52] and is an Honorary Trustee of the Shedd Aquarium.[53][54] He is also a member of numerous civic organizations including The Executives' Club of Chicago, The Economic Club of Chicago, and The Commercial Club of Chicago.[55] In the past, he served on the Advisory Board for L.E.K. Consulting LLC,.[56][57]

References

  1. Grant, Jeremy; Politi, James (2004-07-16). "The winds of change blow through downtown Chicago". Financial Times. ISSN 0307-1766. Retrieved 2017-05-21.
  2. "Citi proves there is life left in M&A mega-deals".
  3. "2016 London Participant Biographies" (PDF). xbma.org. Cite journal requires |journal= (help)
  4. "U.S. dominates Q2 global M&A as mega deals roll on". Reuters. 2019-06-28. Retrieved 2019-08-14.
  5. "Alumni Event Details". The University of Chicago Booth School of Business. Retrieved 2017-05-21.
  6. "Archived copy" (PDF). Archived from the original (PDF) on 2016-11-12. Retrieved 2016-11-11.CS1 maint: archived copy as title (link)
  7. "Cary Kochman (lo-res)". UIC News Center. Retrieved 2017-05-21.
  8. https://www.foley.com/files/Publication/42dc5f0a-88fd-4dcb-bdb8-dcba058eb67b/Presentation/PublicationAttachment/5fc58ccd-a48a-4e5f-a5ee-dfd480f47d7d/HostileBids.pdf
  9. "Board Considerations in Going Private or Going Dark" (PDF). Foley & Lardner. 2007. Cite journal requires |journal= (help)
  10. https://www.foley.com/files/Event/a36784bc-08b6-4976-a6ae-53ee725b1ee6/Presentation/EventAttachment/0dc84041-f3c6-4398-87fc-5489f9a6166f/BestPractices.pdf
  11. https://www.foley.com/files/Event/17eb437e-24ab-49ae-a664-a9914102f9f2/Presentation/EventAttachment/14e6bb9b-0b67-410f-a1f5-ae35215b2ed8/NDIExEx_Booklet.pdf
  12. "Archived copy". Archived from the original on 2016-05-28. Retrieved 2016-06-13.CS1 maint: archived copy as title (link)
  13. "Archived copy". Archived from the original on 2016-11-12. Retrieved 2016-11-11.CS1 maint: archived copy as title (link)
  14. "Cary Kochman". Transaction Advisors. Retrieved 2017-05-21.
  15. Hirch, Lauren (20 December 2016). "Corporate makeovers drive corporate takeovers in 2016 M&A bonanza". Reuters. Retrieved 4 June 2017.
  16. "Archived copy". Archived from the original on 2015-04-02. Retrieved 2015-03-13.CS1 maint: archived copy as title (link)
  17. Welch, David; Campbell, Matthew (2013-10-01). "Mega Deals Mask Stagnant Mid-Sized M&A Market That Pays More". Bloomberg.com. Retrieved 2017-05-21.
  18. "UBS bankers join Citi as talent bleed continues". Reuters. 2017-06-01. Retrieved 2017-05-21.
  19. de la Merced, Michael J. (2011-06-01). "Citi Hires 2 More UBS Bankers as Exodus Continues". DealBook. The New York Times. Retrieved 2017-05-21.
  20. Chon, Gina (2011-06-01). "Breaking: UBS Loses Co-M&A Boss Cary Kochman to Citigroup". WSJ. Retrieved 2017-05-21.
  21. "AT&T cliffhanger adds uncertainty into otherwise favorable year for global M&A". ABC News. 12 February 2018. Retrieved 2018-02-17.
  22. Meehan, Caroline. "CSFB promotes Miller to replace Kochman". Retrieved 2017-05-21.
  23. Meehan, Caroline. "UBS hires Kochman from CSFB". Retrieved 2017-05-21.
  24. http://www.ft.com/cms/s/2/275524ea-0141-11e0-8846-00144feab49a.html#axzz4KvxisOmi
  25. "Stock Is the New Cash in Recent Acquisitions". DealBook. Retrieved 2017-05-21.
  26. Hahn, Avital Louria (2007-11-01). "Buying American -". CFO. Retrieved 2017-05-21.
  27. "Weak market pushes deal-failures to record". Reuters India. Retrieved 2017-05-21.
  28. "UBS jumps ranks in U.S. deals during Q1". Reuters. 2017-03-26. Retrieved 2017-05-21.
  29. "UBS' LeBrun retires from M&A role". Reuters. 2017-04-29. Retrieved 2017-05-21.
  30. "Archived copy". Archived from the original on 2017-02-06. Retrieved 2017-02-05.CS1 maint: archived copy as title (link)
  31. https://www.foley.com/files/Event/a7ece93b-181e-4d33-948d-0c45dd7c5d88/Presentation/EventAttachment/c6c76767-bf6f-4725-989e-1065197383dc/BoardConsideration-PrivateDark.pdf
  32. Beltran, Luisa. "CSFB's Kochman jumps to UBS". MarketWatch. Retrieved 2017-05-21.
  33. "Why investment bankers are no longer BMOCs". Crain's Chicago Business. Retrieved 2017-05-21.
  34. Wright, Tom (2005-06-30). "Credit Suisse drops a name: First Boston". The New York Times. ISSN 0362-4331. Retrieved 2017-05-21.
  35. "Two Veteran CSFB Bankers To Retire As Restructuring Presses On". Institutionalinvestor.com. 2002-03-20. Archived from the original on 2016-11-12. Retrieved 2017-05-21.
  36. "Bank One exit not just a blow to Chicago's ego". Chicago Tribune. Retrieved 2017-05-21.
  37. "Alumni Event Details". The University of Chicago Booth School of Business. Retrieved 2017-05-21.
  38. "Kochman building new client relationships at Citigroup". Crain's Chicago Business. Retrieved 2017-05-21.
  39. "Archived copy" (PDF). Archived from the original (PDF) on 2010-07-05. Retrieved 2016-11-11.CS1 maint: archived copy as title (link)
  40. http://www.xbma.org/Files/XBMA-2016%5B%5D London Participant Biographies.pdf
  41. Fournier, Elizabeth (8 May 2018). "Evercore Claims Spot in Advisory Top Five on Takeda-Shire Role". Bloomberg Quint.
  42. https://www.bloomberg.com/news/articles/2018-05-08/evercore-claims-spot-in-advisory-top-five-on-takeda-shire-role
  43. "Breakingviews - Takeda swallows big dose of risk to buy Shire". Reuters. 8 May 2018.
  44. "Shire Wins Baxalta With Revised $32 Billion Bid, Adding Cash". Bloomberg.com. 2016-01-11. Retrieved 2017-05-21.
  45. "UBS bankers join Citi as talent bleed continues". Reuters. 2017-06-01. Retrieved 2017-05-21.
  46. "Burger King to Buy Tim Hortons for About $11 Billion". Bloomberg.com. 2014-08-26. Retrieved 2017-05-21.
  47. "2020".
  48. Chon, Gina; Das, Anupreeta; Kilman, Scott (2011-01-19). "Cargill to Give Up Mosaic Stake in $24.3 Billion Deal". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-05-21.
  49. "A $9-Billion Philanthropic Windfall". The Chronicle of Philanthropy. 2011-01-21. Retrieved 2017-05-21.
  50. "Secure Directory | Visiting Committees & Councils | the University of Chicago".
  51. "Council on Chicago Booth". The University of Chicago Booth School of Business. Retrieved 2017-05-21.
  52. "The Council for Emerging National Security Affairs (CENSA) - Board of Trustees".
  53. "Board of Trustees | Shedd Aquarium".
  54. http://www.sheddaquarium.org/Documents/Annual%5B%5D Reports and Financials/pdf for web AR FINAL from printer_spreads.pdf
  55. http://xbma.org/Files/XBMA2009Symposium.pdf
  56. https://www.bloomberg.com/research/stocks/people/person.asp?personId=22827476&privcapId=416620%5B%5D
  57. https://www.bloomberg.com/research/stocks/private/relationship.asp?personId=337564&privcapId=214638468&previousCapId=356418&previousTitle=FORRESTER RESEARCH INC
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