Citi long-serving M&A chief to retire

Mark Shafir most recently served as co-head of Global M&A

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.

Ticker Security Last Change Change %
C CITIGROUP INC. 62.47 -0.18 -0.30%
AVGO BROADCOM INC. 1,256.82 +7.63 +0.61%
KR THE KROGER CO. 56.16 +0.54 +0.96%
ACI ALBERTSONS COMPANIES 20.06 -0.26 -1.28%

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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.