Other moves

Tom Bartlam, a founder and managing director of mezzanine provider Intermediate Capital Group, will retire in April, subsequent to the announcement of ICG’s results for the year ended January 31 2005. He will remain on the board as a non-executive director. ICG expects to report good results for its current financial year, with further growth in core income and the loan portfolio and strong capital gains. The results are due to be announced in early April. John Manser, chairman of ICG, said that under the guidance of Bartlam, the firm had delivered compound growth in earnings per share of more than 10% per annum since its flotation more than 10 years ago. Core income grew by more than 10% in each year during that period.

  • Stephan Kruemmer took over as managing director and head of 3i’s German business from February 1. He succeeds Jane Crawford, who has been on assignment in Germany from 3i London since 2002. Crawford will return to London after a handover period. Kruemmer will also take responsibility for 3i’s activities in the Swiss and Austrian markets. Based in Frankfurt, he will report to Chris Rowlands, 3i’s head of group markets. Kruemmer, 48, has experience in industry and investment banking. He moved to Frankfurt to head up Rothschild’s investment banking business in Germany in 1998.
  • Private equity expert Markus Strelow has joined Mayer Brown Rowe & Maw in Frankfurt as a partner. He worked from 1994 until 1997 at Clifford Chance in the M&A and private equity departments. After that, he co-founded Ashurst’s German office in 1998, where he played a role in developing the private equity and acquisition finance practice. Reinhart Lange, managing partner of Mayer Brown Rowe & Maw in Germany, said: “Following on from our other new additions, Friedrich Merz and Peter Nägele, this is a great start to the year and we are looking forward to bedding down 2005 with three new top people.”
  • Summit Partners, the private equity firm with offices in Boston, Palo Alto and London, has promoted Sotiris Lyritzis to principal at its London office. He joined the London team in 2002 and previously co-founded eLabsEurope AG, a Munich-based internet procurement solution for the European life sciences industry. Prior to that, he held various positions at JP Morgan. Globally, the firm promoted John Carroll and CJ Fitzgerald to general partner. In addition, the firm has promoted Scott Carter and Christopher Dean to the rank of principal.
  • William D’Arcy joined Gow & Partners as head of the investment banking and private equity team. He was previously managing director of D’Arcy & Co, an executive search boutique specialising in the same areas. He and his team will be focusing on corporate finance, M&A, private equity and fixed-income origination. Prior to establishing his own executive search business, D’Arcy spent 15 years as an investment banker working in debt capital markets for Phillips & Drew, (which has since been acquired by UBS), Lehman Brothers, Credit Lyonnais, GT Management and Bear Stearns. “There are clear signs that after several years of holding back on recruitment, investment banks are now beginning to gear up for the expected upturn in the cycle, particularly in the M & A area,” said Roddy Gow, Chairman of Gow & Partners.