North America: MUFG appoints new project finance head

16 May 2018 - 12:00 am UTC

MUFG has appointed Managing Director Erik Codrington (pictured), an energy-focused project finance banker, as the head of structured finance, according to a statement from the bank.

Jon Lindenberg, who has been leading the structured finance team since 2009, was promoted to head of investment banking for the Americas. He replaces Fumitaka Nakahama, who will return to Tokyo as head of the global corporate and investment planning division.

Codrington will report to Lindenberg. Both executives began their new roles on 15 May. The structured finance group’s primary focus is project finance, Codrington told Inframation.

Codrington and his energy team previously led large oil & gas transactions including Cameron LNG, Freeport LNG and various deals for Cheniere Energy, as well as US-to-Mexico gas pipeline projects such as NET Mexico, Nueva Era, Comanche Trail and Trans-Pecos.

While his recent experience is rooted in oil and gas-related transactions, he said the group will continue its existing debt-focused strategy across sectors, with the goal of expanding its footprint in term loan B transactions and project finance advisory work.

“We’ve got tremendous strengths between the size and quality of our team, strength in distribution, the amount of capital we have to deploy and our strong league table positions in the bank and bond market,” Codrington said.

Codrington will continue to stay involved with some of the bank’s existing energy clients, but most of that responsibility will be handed off to Nasir Khan, head of infrastructure, who will now also oversee energy.

Additionally, Head of US Power Alex Wernberg has been given added responsibility, expanding his coverage of the power sector to include Canada. 

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