LONDON â€" Philip Robert-Tissot, Citigroup’s chairman for mergers and acquisitions for Europe, the Middle East and Africa, will become the next chief of the Takeover Panel of Britain, an independent regulator that oversees deals in the country.
Mr. Robert-Tissot, 51, will replace Robert Gillespie, formerly a senior managing director at the boutique advisory firm Evercore Partners, as director general of the Takeover Panel, according to a statement from the regulator.
The Citigroup deal maker, who previously served as the firm’s head of the British banking and brokerage business, will start his new job on April 1. It’s a two-year appointment.
The British watchdog is currently considering a review of new rules that give acquirers only 28 days to make an offer for a company after they have been named publicly.
The changes were put in place after Kraft’s $19.5 billion deal for the British chocolate maker Cadbury in 2010. British authorities criticized the deal after Kraft’s potracted efforts to buy Cadbury caused instability in the British company’s share price. Citigroup, along with Lazard, Deutsche Bank and Centerview Partners, advised Kraft on the acquisition of Cadbury.
