Dunleavy defects to Lazard

Lazard has beefed up its private equity placement business by hiring Patrick Dunleavy from Citigroup as a managing director of its private fund advisory group.

Dunleavy was previously the co-head of private equity funds at Citigroup alongside Doug Blagdon. His departure is the latest in a string of high-level defections as investment banks jostle for market share in an increasingly competitive environment.

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