Citigroup Leveraged-Finance Chairman Matas to Depart Bankby
Barbara Matas has spent about three decades at Citigroup
She is second leveraged-finance executive to leave this week
Citigroup Inc. said Barbara Matas, chairman of leveraged finance, is leaving after about three decades at the bank.
Matas’s last day is Friday. The firm disclosed her plans in a memo from John Chirico and Richard Zogheb, co-heads of Americas capital-markets origination, a copy of which was obtained Friday by Bloomberg. Danielle Romero-Apsilos, a spokeswoman for the New York-based bank, confirmed its contents.
Matas became chairman of the group in January 2013, when the bank merged its U.S. leveraged-finance origination and syndication businesses. Tom Cole and John McAuley are co-heads of Citigroup’s U.S. leveraged finance business. The firm ranked eighth in U.S. leveraged loans in 2015, arranging 262 deals valued at $34.8 billion, and third in high-yield bond underwriting, with 162 deals valued at $21.8 billion, excluding self-led transactions, according to data compiled by Bloomberg.
“Barbara has secured and executed numerous ground-breaking transactions,” Zogheb and Chirico wrote in the memo.
Matas is the second senior leveraged-finance executive to depart Wall Street this week. Goldman Sachs Group Inc. said Wednesday that Craig Packer, co-head of leveraged finance in the Americas, was leaving the firm. He’s joining a credit fund being formed by veteran KKR & Co. dealmaker Marc Lipschultz and former Blackstone Group LP executive Doug Ostrover, a person with knowledge of the matter said Thursday.
Leveraged loans and high-yield bonds are those rated below BBB- by Standard & Poor’s and less than Baa3 at Moody’s Investors Service.
(An earlier version of this story corrected the description of Citigroup’s leveraged-finance ranking.)