Financo INC. has named Philippe Faraut managing director and head of its Los Angeles office, filling a key spot on the West Coast, where the investment banking and advisory firm has a growing business. He succeeds Steve Reiner, who left in early July.
Faraut will serve on Financo’s operating committee and report to Gilbert W. Harrison, chairman and chief executive officer, and William Susman, president and chief operating officer.
“Having an experienced banker on site is extremely helpful as we build our businesses. It prevents us from putting people on a plane every time we have a transaction,” Harrison said.
He noted that recently on the West Coast, Financo has worked with Forever 21 on acquisitions, helped American Apparel obtain financing, and advised Gottschalks on its bankruptcy.Financo has also served as an adviser to Bebe, Cherokee and BCBG, among other firms.
Harrison said Faraut has extensive investment banking expertise, having advised Kraft, Schneider Electric, Jimmy Choo and other companies on divestitures and acquisitions.
Faraut joins Financo from the Sage Group-Los Angeles, where he served as director, responsible for the origination of transactions in the apparel, retail and consumer industries.Earlier, Faraut served as director of global investment banking at HSBC Securities USA Inc. and vice president of global industries and retail groups at Merrill Lynch.
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