Newmark Hires Ex-Citigroup Director Philip O’Bannon to Expand Data Center Investment

Newmark has hired Philip O’Bannon to lead its infrastructure capital markets business.

O’Bannon, previously a director at Citigroup, will focus on fast-growing investments for Newmark, such as data centers, energy transition assets, power and utilities, and other large-scale infrastructure sectors, according to a Tuesday announcement from Newmark. O’Bannon is equipped with more than 20 years of experience in investment banking and engineering.

As senior managing director, O’Bannon will lead the business in expanding advisory and capital-raising capabilities across the firm’s full infrastructure investment spectrum. 

“The convergence of AI-driven data center expansion, grid modernization and industrial electrification is catalyzing a multitrillion-dollar capital markets super-cycle — one that rivals the most transformational technological revolutions in both scale and generational investment opportunity,” O’Bannon said in a statement. “Newmark’s platform and reach put us in an exceptional position to serve clients across this expanding landscape.”

O’Bannon, who began his new role March 6, reports to Andrew Warin, head of strategic advisory at Newmark. O’Bannon is positioned to work closely with Newmark’s debt and structured finance and data center capital markets teams.

“Philip’s appointment further augments our efforts in data center coverage, as well as across other large infrastructure sectors, and enhances our ability to deliver the best possible outcomes for our clients,” Douglas Harmon, co-head of Newmark’s U.S. capital markets group, said in a statement.

O’Bannon previously spent seven years at Citigroup’s power and utilities investment banking group, according to Newmark. His LinkedIn page also includes a recently concluded role as principal of infrastructure advisory at the Raleigh, N.C.-based Oak City Energy Advisors. Prior to his investment banking career, O’Bannon got his start in mechanical engineering at global security and defense company Lockheed Martin, where he led efforts for advanced submarine defense systems.

“Philip’s unique combination of investment banking expertise and deep technical knowledge of infrastructure assets makes him an ideal fit to lead this initiative,” Brent Mayo, head of data center capital markets at Newmark, said in a statement.

Citigroup declined to comment. 

Emily Davis can be reached at edavis@commercialobserver.com.