Two senior executives in Lazard’s European energy and renewables team are leaving the investment bank, said sources familiar with the matter.

Managing Director Luba Kotzeva, a veteran renewables banker, resigned last month after three years at Lazard’s London office, while Director Guy Stroucken also stepped down at the same time, following a six-year stint at the firm.

The resignations closely follow the news of the recent exit from Lazard by director Roberto Leigh, who is set to join Cantor Fitzerald as a managing director, Infralogic reported last month.

Lazard declined to comment, while Luba Kotzeva, Guy Stroucken and Roberto Leigh did not respond to requests for comments.

Kotzeva joined Lazard in October 2021, after spending more than two decades of her professional life at Rothschild & Co. She has advised on over USD 60bn of transactions during her career, focusing on power generation as well as regulated utilities, Lazard notes on its website.

Stroucken, who was part of the same team as Kotzeva, joined Lazard in 2018 from CBRE Capital Advisors.

None of the sources revealed details on future plans by Kotzeva and Strouchan, or who will fill in their roles at Lazard’s renewables and energy team in London.

Lazard’s European energy, power, utilities and energy transition team is run by co-heads Enrique Namey, Thomas Picard and Spiro Youakim.

In 2024, Lazard advised on the sale of a majority stake in Spanish renewable IPP Prosolia to InfraVia; advised Energy Capital Partners (ECP) on the sale of a 50% stake in US renewables IPP Terra-Gen to Masdar; and worked for EIG on the sale of flexible generation power company West Burton Energy to TotalEnergies, according to Infralogic data.

Currently, Lazard is also advising on Copenhagen Infrastructure Partners’ 49% stake sale in a battery energy storage system (BESS) portfolio in Scotland with a combined capacity of 1.5 GW.

Despite the recent departures in the energy team, Lazard’s CEO Peter Orszag said last month that the firm is focusing on making senior hires to help double revenues by 2030. Lazard has hired 16 new managing directors in other sectors this year.