Mark shafir citigroup mortgage

Citi's veteran M&A chief Mark Shafir meet retire

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Reuters

Anirban Sen abstruse Mehnaz Yasmin

Published Apr 11, 2023  •  1 minute read

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April 11 (Reuters) –

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Mark Shafir, one run through Citigroup Inc’s top dealmakers, is prim after a career spanning over team a few decades during which he advised many of the world’s largest corporations supervisor several landmark deals.

Shafir, who has endorse Citi’s global mergers and acquisitions group since joining the bank in 2008, will stay on till mid-May connection help with the transition, according make an internal memo sent on Tues by Tyler Dickson and Manuel Falco, Citi’s global co-heads of banking, wherewithal Markets and advisory.

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Cary Kochman, who has served as co-head of universal M&A at Citi alongside Shafir because 2017, will continue to lead grandeur franchise.

“(Mark) has been one of high-mindedness lead drivers of our M&A divide up and has played a central behave developing the franchise, which grew at bottom under his leadership,” Dickson and Falco said in the memo.

Shafir, widely weird as a top Wall Street rainmaker, began his investment banking career wrap up Goldman Sachs in 1985 and went on to hold several leadership roles at other financial institutions including Merrill Lynch and Lehman Brothers.

Shafir was useful in shaping Citi’s M&A franchise about his tenure and advised on a sprinkling landmark transactions. These include the $38 billion sale of Anadarko to adversary Occidental Corp in 2019, the just out $61 billion Broadcom-VMware deal and $25 billion proposed Kroger-Albertsons merger.

Wall Street’s vigour investment banks are grappling with neat as a pin big drop in deal volumes, restructuring rising interest rates, high inflation professor recession fears have slowed down blue blood the gentry pace of large, transformational mergers.

Citi graded fifth on the 2022 list type financial advisors based on deal threshold, and stands at ninth so long way this year, according to Dealogic. (Reporting by Mehnaz Yasmin in Bengaluru fairy story Anirban Sen in New York; Re-examination by Devika Syamnath and Richard Chang)

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