- Evercore Chairman Andrew Sibbald Joins Warburg Pincus in European Role
- Sibbald to Become Co-Head of Europe, Alongside Airbus Chairman Rene Obermann
- Warburg Pincus, a Major Private Equity Investor, Expands Its European Leadership Team
Andrew Sibbald, the chairman of Evercore’s London-based operations, will join the buyout firm with interests in the AA, Reiss, and Inmarsat.
One of the AA breakdown recovery service’s private equity sponsors hired a senior City banker to run its European operations.
Andrew Sibbald, the chairman of Evercore Partners’ London-based business, is in line to become Warburg Pincus’ co-head of Europe.
Mr. Sibbald will work with Warburg Pincus’s other European leader, Airbus chairman Rene Obermann, in Berlin.
Adarsh Sarma, the current London-based co-head of Europe for Warburg Pincus, is rumored to be leaving the company and pursuing a new position elsewhere, according to a City source.
One of the largest private equity investors in the world, Warburg Pincus owns AA and Reiss holdings in the UK.
It oversees $80 billion (£62 billion) and has raised a $16 billion (£12.5 billion) global buyout fund.
Other investments include the satellite operator Inmarsat and the Indian ride-hailing app Ola.
Mr. Sibbald’s 35-year banking career includes advising on transactions that reshaped portions of Britain’s corporate landscape, such as the demerger of fund manager M&G from Prudential and the initial public offering of funds platform Hargreaves Lansdown.
In addition, he advised the AA on the sale of its assets to Warburg Pincus and Towerbrook Capital Partners.
On Sunday, both Warburg Pincus and the New York-based Evercore were contacted for comment.
