Citigroup

Tl;dr: 4 examples of presentations prepared by Citigroup for their clients in real transactions. Learn how investment bankers do their job by seeing real examples of the PowerPoints they create.

Citigroup Investment Banking Presentation Examples

Here are 4 presentations to check out.

Hit the button that looks like a box to open it up full screen for your viewing pleasure!

Talen Energy Corp

About

Talen Energy Corp is an independent power producer and infrastructure company headquartered in Houston, Texas. The company operates approximately 12.4 gigawatts of power infrastructure across the United States, primarily in the Mid-Atlantic, Texas, and Montana regions. Talen Energy produces and sells electricity, capacity, and ancillary services into wholesale U.S. power markets, including PJM, ERCOT, and WECC.

A significant portion of Talen’s energy production comes from its zero-carbon, low-cost Susquehanna nuclear facility and other lower-carbon gas-fired facilities. The company is actively working to reduce the carbon footprint of its energy generation by converting and retiring its coal facilities.

In 2024, Talen Energy sold its natural gas plants in Corpus Christi and Laredo to CPS Energy for $785 million. This transaction is part of Talen’s strategy to optimize its asset portfolio and focus on more sustainable energy sources.

Talen Energy is traded on the OTCQX Best Market under the ticker “TLNE.” The company emphasizes maintaining a strong balance sheet and ample liquidity, with recent efforts to hedge a significant portion of its expected generation volumes for 2024 and beyond. Additionally, Talen has eliminated its exposure to Russia-related nuclear fuel supply counterparties, securing its nuclear fuel cycle through 2028.

Deck 1

Deck 2

El Paso Pipeline Partners

About

El Paso Pipeline Partners, L.P. (EPB) was a significant player in the natural gas pipeline industry. It operated a vast network of pipelines and storage facilities primarily in the United States. The company’s infrastructure included over 10,000 miles of pipeline systems that transported natural gas from major production areas like the San Juan, Permian, and Anadarko basins to various states including California, Arizona, and New Mexico.

In 2012, El Paso Pipeline Partners was acquired by Kinder Morgan Inc. in a $38 billion transaction. This acquisition was one of the largest in the energy sector, significantly expanding Kinder Morgan’s natural gas pipeline footprint by approximately 44,000 miles. Post-acquisition, Kinder Morgan became the largest transporter and storage operator of natural gas in the United States, leveraging El Paso’s extensive pipeline network for further growth opportunities.

The pipeline systems under El Paso included significant assets like the El Paso Natural Gas (EPNG) system and several other regional pipelines that facilitated the transport and storage of natural gas across key markets in the U.S. and Mexico.

Deck

Taro Pharmaceutical Industries

About

Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company founded in 1950. It specializes in the development, manufacturing, and marketing of generic and branded prescription and over-the-counter (OTC) pharmaceutical products. The company has established a strong presence in dermatological products, particularly in the United States, and also focuses on cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic areas. Taro’s product portfolio includes semi-solid formulations like creams and ointments, as well as liquids, capsules, and tablets.

Headquartered in Hawthorne, New York, Taro operates primarily in the U.S., Canada, and Israel. The company is known for its robust research and development initiatives, which support its niche strategy and market leadership in various therapeutic categories.

In recent developments, Taro Pharmaceutical is in the process of merging with Sun Pharmaceutical Industries Ltd., a transaction expected to be completed in the first half of 2024. Sun Pharma, which already owns a significant stake in Taro, will acquire all outstanding shares for approximately $347.73 million. This merger aims to enhance Taro’s competitive positioning and expand its market reach.

Deck

About Citigroup

About Citigroup (Investment Banking M&A – Early 2025)

Citigroup’s M&A division operates as a core part of its global banking franchise (now streamlined within a unified “Banking” division under the broader Institutional Clients Group umbrella, following recent restructuring). As of early 2025, it stands as a major global player, leveraging Citi’s extensive worldwide network, deep corporate relationships across diverse industries, and significant financing capabilities.

The M&A team provides comprehensive strategic advisory services – including buy-side, sell-side, mergers, joint ventures, spin-offs, and defense advisory – to large corporations, financial institutions, financial sponsors, and governments globally. A key strength lies in its ability to integrate M&A advice with Citi’s broad suite of financial products, including debt and equity capital markets, lending, and treasury and trade solutions, offering clients holistic financial solutions.

Rankings (2024 & Early 2025)

Citigroup consistently ranks as a Top 10 global M&A advisor, often placing within the upper half of that tier.

• Global: For the full year 2024, Citigroup typically ranked within the Top 5 to Top 8 globally by announced M&A deal value, according to major league table providers (LSEG, Bloomberg, Dealogic). It remains a core bulge bracket competitor.
• USA: Maintained a strong position in the US market, generally ranking within the Top 10 throughout 2024, often placing in the Top 5-7 range.
• Europe: Holds a significant European presence, typically ranking within the Top 10 M&A advisors in the region during 2024.
• Asia Pacific: Leverages its extensive network to maintain a strong ranking, often within the Top 10 in the region.

Early indications for 2025 suggest Citigroup continues to leverage its global platform and integrated banking model to compete effectively for M&A mandates.

Key Changes (2024 & Early 2025)

• Major Organizational Restructuring: The most significant change impacting the M&A division stemmed from the sweeping firm-wide reorganization initiated by CEO Jane Fraser in late 2023 and implemented throughout 2024. This aimed to simplify the bank’s structure, eliminate management layers (like the former regional structures), and create five core, directly reporting business lines.
• Unified “Banking” Division: Investment Banking, including M&A, was integrated into a new, unified “Banking” division alongside Corporate Banking and Commercial Banking. This structure is designed to foster greater collaboration, efficiency, and client-centricity by breaking down internal silos and better connecting advisory services with lending and other banking products across client segments. Peter Babej was initially appointed to lead this division but took medical leave, with interim leadership appointed.
• Potential for Strategic Refocus: While core M&A capabilities remain, the reorganization potentially allows for a refreshed strategic focus within the new Banking structure, emphasizing cross-selling and leveraging the bank’s global network more effectively under the simplified operating model.
• Leadership Adjustments: The reorganization involved significant changes in reporting lines and potentially some senior leadership adjustments aligned with the new structure, although core M&A product leadership likely saw continuity.
• No Major M&A-Advisory Acquisitions: Citigroup’s growth in M&A continued to be primarily organic, focused on leveraging its existing platform and relationships within the context of the new organizational structure.
• Market Adaptation: Navigated the 2024 market conditions while simultaneously undergoing significant internal transformation, advising clients across sectors amidst economic uncertainty.

FT Rankings

Want more IBD decks?

There are resources for you to purchase if they are helpful to you.

I recommend “Premium” for anyone serious about learning slide structures.

Only get the “Pro” version if you are serious about learning about M&A decks (VP to MD).

About the Investment Banking Decks here

Investment banking presentations are rarely if ever, made public. When I was junior in M&A, it would have been so helpful to have access to see how banking decks were made and how other banks made them.

The issue is that they are never made available, so I set out to help you.

What you will find here

You will find 2-4 real M&A decks from one bank. They are in a fancy form of PDF you can open and go through (best on your computer). If you want to see more, there are options to purchase more access (which funds a little team of analysts to make updates).

If you want to see more, this is part of a collection of 67 free M&A presentations from the top 20 banks (based on ranking and also the quality of presentation for you to learn from).

Why the heck should you care?

Investment banks attracted the best and the brightest.

• Slide structure/design: Learn how complicated concepts are structured and designed in PowerPoint
• Analysis approach: See exactly how complex financial methods are presented
• Strategy and communication: M&A deals are not (normally, other than many Duff and Phelps decks) cookie-cutter. There’s a host of topics that need to be dealt with
• Morbid interest: I used to do this for a living, but it’s still interesting to see how PPT are made… but then maybe it’s just me and so FML 😉

Who this will help

• You want to work in banking: There are a lot of applicants. Knowing the job helps you answer questions
• You work in banking: Even if you’re an MD, you need to know how the best are structuring their thoughts/analysis
• You write presentations: You can’t buy learnings like this. You can learn from the slides
• You have a curious mind: Good for you

Want more IBD decks?

There are resources for you to purchase if they are helpful to you.

• I recommend “Premium” for anyone serious about learning slide structures.
• Get the “Pro” version if you are serious about learning about M&A decks (VP to MD).