Houlihan Lokey nabs former GE Capital exec in Europe

The Los Angeles-headquartered bank has expanded its capital markets team in London.

Investment bank Houlihan Lokey has hired Patrick Schoennagel from GE Capital to join its European capital markets group. Schoennagel will be based in London and was most recently a senior vice president in GE Capital’s corporate finance group, according to a statement from Houlihan Lokey.

Schoennagel’s new role will involve supporting both non-sponsored and private equity-backed companies in raising capital. He will focus on UK and wider European corporates as well as working closely with the Houlihan’s US-based capital markets team on cross-border deals, the statement said.

Schoennagel was at GE Capital for almost 10 years. He has worked across instrument types including asset-based and leveraged loan financing as well as restructuring deals for mid-market and large-cap companies across industries.

“Patrick possesses a comprehensive skill set that encompasses credit, structuring, and loan origination for a wide variety of clients. As we continue to build out our capital markets business in Europe, his skill set and breadth of experience will be tremendously valuable to our clients,” said Ken Goldsbrough, a managing director within Houlihan Lokey’s European capital markets group.

Several market sources have told PDI that many GE Capital executives began exploring the job market in the wake of General Electric’s announcement that it would sell most of its finance business in a bid to avoid being designated a systemically important financial institution.