First Reserve hires GE oil & gas head as COO


Energy-focused private equity group First Reserve has added Claudi Santiago as a managing director and COO to be based in the firm’s London office.

It has also hired Irene Mavroyannis joins First Reserve as a managing director in its investor relations group, based in the firm’s Greenwich office.

Santiago joins First Reserve after a career of more than 30 years at GE, where he was president and CEO of GE Oil & Gas and senior vice president of GE. While at GE, he managed its $10bn oil & gas division focused on upstream, midstream and downstream equipment and services.

As COO at First Reserve, Santiago will be responsible for managing the firm’s operations and will focus on talent development, implementation of best practices across the firm’s operational processes and developing the firm’s network of advisors, directors and consultants, it said. He will also take up board positions at First Reserve’s portfolio companies.

William Macaulay, CEO of First Reserve, said, “We have known and worked with Claudi for over a decade while he was at GE and now look forward to having such an experienced and senior executive join our firm. Claudi brings with him strong knowledge of the energy industry, deep operating experience and an extensive network of relationships. With his skills and experience, Claudi will be a valuable in-house resource to First Reserve.”

Santiago added: “Everybody in the energy business knows First Reserve and its reputation as a leading investor in the energy industry. While at GE, I worked with the firm and know that its reputation is well deserved.”

Mavroyannis joins First Reserve from KKR, where she was most recently the firm’s global energy and infrastructure product specialist and also previously served as COO for KKR’s broker-dealer. Prior to KKR, she was an investment banker at Citigroup Global Markets, where she worked with First Reserve.

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