Industry Moves: Allen & Co. Picks London Leader – More UK Media Buzz?

The media-centric US boutique bank that brokered Bebo to AOL (NYSE: TWX) is setting up a London office. Wendell Brooks will leave Citigroup after 15 years to head the UK office for Allen & Co, reports. The New York-based firm has also been used to find buyers for the likes of PlanetOut (NSDQ: LGBT) and, reportedly, Digg, and makes its own investments. So this may suggest heightened M&A and investment activity in UK digital media. Early-stage tech, media and telecom investment in Europe grew 72 percent from $711 million to $1.28 billion (£642.15 million) in the first quarter of the year, led by the UK, according to April’s CalibreOne Index. Brooks is head of Citi’s European media, technology and telco operations.