Mitsubishi Hitachi Power Systems has hired a senior executive in New York who previously worked in finance at rival Siemens for more than 14 years.

The Siemens veteran, Bill Hoffman, joined MHPS this month as senior director, strategic ventures, and is understood to be working on structured finance transactions.

He was most recently vice president of development capital in the Americas for Siemens Energy's power, oil and gas division, a role he had held since 2015.

He started at the company in 2005 as a guaranty coordinator in Iselin, N.J., before moving to the role of project and export finance manager in Orlando, Fla., in 2007, and project and structured finance manager for energy in 2011. He was promoted to director in 2014.

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