What do you do after an illustrious career in M&A at Goldman Sachs? Among the many options, there is always the possibility of taking yourself to Ardea Partners, the boutique M&A firm launched in 2016 by Chris Cole, Goldman's former chairman of investment banking. Ardea has been hiring, and it likes to hire from Goldman Sachs.
Ardea's latest partner-level recruit is Julien Petit, Goldman's former head of financial institutions group (FIG) banking. After a 20 year career at Goldman, Petit joined Ardea this month according to his LinkedIn profile. He's joining as a partner.
Petit isn't Ardea's only recent hire. The pace of recruitment at the firm has slowed from the heady days of 2016 when Goldman staff seemed to be joining Ardea every month, but there's still the occasional big recruit. Pre-Petit, the firm hired Martino Martucci, a director from Barclays' power and utilities team in September. Martucci spent 10 years at Barclays; unlike Petit, he didn't join as a partner.
Ardea has offices in London and New York. According to the most recent accounts for Ardea Partners UK LLP, the partnership had a turnover of $6m in 2018 (up from $1.6m in 2017) and three partners shared $3.9m in profits between them. The highest paid partner received $1.4m for the year.
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