ING loses another M&A advisor

21 October 2019 - 12:00 am UTC

Infrastructure and energy adviser Nikolay Cholakov has become the latest of several M&A advisors to leave the ING in recent months.  

A source close to the situation said Cholakov, who declined to comment, was a director in the Dutch bank’s London-based utilities and renewables team until his departure earlier this month. 

ING declined to comment.

According to his LinkedIn profile, Cholakov advised sponsors on deals in the European utilities sector over a 14-year period including Swedish power company Vattenfall on the September 2018 sale of its German coal fired plants to the Czech energy group EPH and private equity firm PPF Investments.

He also advised on French utilities giant Engie’s January 2018 sale of its Hungarian gas distribution company Egaz-Degaz Foldgazeloszt to the nation’s electricity group NKM Nemzeti Kozmuvek.

Cholakov was an analyst at Deutsche Bank before leaving his position and joining ING in 2015.

In August, Sebastien Kammerman left ING after three years at the bank, where he was most recently a vice president in the London-based infrastructure finance and advisory team. 

He joined DC Advisory, the advisory arm of the Japanese investment bank Daiwa Securities, as an associate in September.

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