2023-04-11 12:46:14 ET
- Citigroup Inc.'s ( NYSE: C ) long-serving co-head of mergers & acquisition investment banking is set to retire.
- Mark Shafir, who serves as co-head of Global M&A at Citi along with Cary Kochman, announced his plans to depart the bank, according to a WSJ report , which cited a memo distributed on Tuesday. Shafir has been employed at Citi for 15 years.
- Shafir will stay on through mid-May to help in the transition process, according to the report. Kochman will continue to lead the bank's global M&A business.
- Shafir has worked on several large M&A deals, including Broadcom's ( AVGO ) planned $61 billion acquisition of VMWare ( VMW ), LVMHs' ( OTCPK:LVMHF ) $17 billion purchase of Tiffany and Kroger's ( KR ) $25 billion planned acquisition of Albertsons ( ACI ), according to media reports.
For further details see:
Citi top M&A chief Mark Shafir set to retire - reports