New York Citi announced today that Michael Eckhart will join as a Managing Director in the Institutional Clients Group. He will work with Citi’s corporate, investment, public and private sector clients to better understand their challenges and objectives related to environmental matters and to take advantage of market opportunities.
"Mike is widely recognized as one of the world’s leading experts on environmental markets and sustainability. His extensive experience and global network will complement what currently differentiates Citi as a trusted advisor to clients and will drive our effort to be the preeminent thought leader on environmental matters," said John Havens, Citi President and Chief Operating Officer.
Key decision and policy makers around the world have traditionally sought Citi’s advice in market-based solutions to environmental challenges. Citi is already a leader in this space as evidenced by recognition as the “Most Innovative Bank in Climate Change and Sustainability” for two years in a row by The Banker Magazine, a prestigious global publication affiliated with the Financial Times. These awards acknowledge the extensive work Citi has done for clients including Shepherd's Flat, the largest Department of Energy-guaranteed wind farm financing in the world; the financing of certain renewables projects for the Los Angeles Community College District and for Kaiser Permanente; and precedent-setting, innovative transactions for AES Corporation (Armenia Mountain) and for Terragen (Alta Wind).
"I am excited to be joining Citi which has an unparalleled global network and the distinct ability to deliver sophisticated and innovative solutions for clients around the world," said Mr. Eckhart.
Mr. Eckhart joins Citi after spending the last decade as the founding President and a member of the Board of Directors of the American Council on Renewable Energy (ACORE), one of the leading environmental markets and sustainability nonprofit organizations. At ACORE, he established a Board of Directors and Advisory Board of over 40 national leaders, a membership of over 600 organizations and a staff of 25 professionals. He has overseen the U.S. Partnership for Renewable Energy Finance (US PREF) and has served on the governing bureau of the REN 21 global policy network, and as U.S. Chair of the World Council for Renewable Energy.
Earlier in his career, Mr. Eckhart was Chairman and Chief Executive Officer of the power generation development firm United Power Systems, Inc; was involved in strategy at General Electric Company’s power systems sector; and was a Principal with the energy practice of Booz, Allen & Hamilton where he conducted many of the original national studies on the emerging new energy technologies in the 1970s.
Mr. Eckhart has received numerous awards and recognitions for leadership including the prestigious Skoll Award for Social Entrepreneurship and was named Renewable Energy Man of the Year of India for his work in the field of solar energy financing. He was also recently invited to co-chair the U.S.-China Summit on Clean Energy Cooperation at the Brookings Institute.
Mr. Eckhart served in the U.S. Navy Submarine Service and has a degree in Electrical Engineering from Purdue University and an MBA from Harvard Business School.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.