WestLB has hired John Eleoterio as an associate director in its power, utilities and financial sponsors group in New York. The banker, who was hired from CIT's project finance group, will report to unit co-heads and managing directors Santino Basile and Lou Iaconetti. He will be responsible primarily for originating and structuring transactions, Basile says.

The financial sponsor unit was formerly within the power banking unit until being carved out last year (PFR, 11/7) with the addition of Iaconetti as well as director Juan Kreutz and Jimmy Anderson. At CIT Eleoterio reported to group head Dan Morash, global head of project finance in New York.