Citi long-serving M&A chief to retire
Mark Shafir most recently served as co-head of Global M&A
Citi Co-Head of Global Mergers and Acquisitions Mark Shafir discusses his outlook for the M&A and IPO market.
One of Citigroup Inc.’s top dealmakers is retiring from the investment bank, according to a memo seen by The Wall Street Journal.
Mark Shafir, who most recently served as co-head of Global M&A at Citi alongside Cary Kochman, announced his retirement on Tuesday morning, according to the memo, which was distributed internally. Mr. Shafir has been at Citi for 15 years, having worked in a number of leadership roles during his tenure there.
Mr. Shafir has worked on a number of landmark deals, including Broadcom Inc.’s $61 billion deal to buy VMware Inc. and more recently Kroger Co.’s deal to buy its rival grocery chain Albertsons Cos.
People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009.
Mark Shafir worked on the deal which saw computer chip and software giant Broadcom dole out $61 billion to acquire all outstanding shares of cloud technology firm VMware in a cash and stock transaction.
Albertsons signage outside a supermarket in Las Vegas, Nevada, on Jan. 7, 2022.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| C | CITIGROUP INC. | 122.66 | +6.94 | +6.00% |
| AVGO | BROADCOM INC. | 332.50 | +21.98 | +7.08% |
| KR | THE KROGER CO. | 67.50 | +0.83 | +1.24% |
| ACI | ALBERTSONS COS INC | 18.09 | +0.30 | +1.69% |
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Mr. Shafir plans to stay on at Citi to help with the transition process through mid-May, according to the memo. Mr. Kochman will continue leading the bank’s M&A franchise globally, it said.