Printer Friendly Page
Citigroup Inc. (NYSE: C)
April 16, 2008
Tom Flexner to Join Citi Institutional Clients Group as Global Head of Real Estate
Industry Veteran to Lead Unified Strategy for Commercial Real Estate
New York – Citi Institutional Clients Group today announced that Thomas Flexner will join the firm as Global Head of Real Estate. Mr. Flexner will be responsible for directing commercial real estate activities across Investment Banking, Commercial Real Estate Finance and Citi Alternative Investments. He will report to John Havens, Chief Executive Officer of Citi Institutional Clients Group, and will join the firm's Management Committee.
Mr. Flexner was most recently a Vice Chairman with Bear Stearns & Co, where at various times he oversaw all of the firm's commercial real estate activities including real estate, commercial mortgages, and principal investing. He was also head of the firm's Financial Buyers Group, which provides specialized financing and advisory services for leverage buyout sponsors, private equity funds and their portfolio companies.
"Streamlining all of our real estate activities under Tom's leadership will improve the way we serve our clients, as well as help Citi optimize growth opportunities and manage risk more effectively," Mr. Havens commented. "Tom joins Citi with more than 30 years experience in commercial real estate finance and investing, and he is an important addition to the strong bench of industry leaders we have throughout the firm."
Mr. Flexner is the latest in a series of internal and external appointments of world-class talent at Citi since Vikram Pandit became CEO last December. These appointments are aligned with Mr. Pandit's commitment to build a culture based on teamwork and the best possible talent; manage Citi's capital for greater profitability; and create a strong base for future earnings growth through a more streamlined, client-focused organization.
About Tom Flexner
Mr. Flexner was most recently a Vice Chairman with Bear Stearns & Co, where at various times he oversaw all of the firm's commercial real estate activities including real estate, commercial mortgages, and principal investing. He was also head of the firm's Financial Buyers Group, which provides specialized financing and advisory services for leverage buyout sponsors, private equity funds and their portfolio companies.
Mr. Flexner joined Bear Stearns in 1993 from Eastdil Realty, Inc., where he was executive vice president and co-head of investment banking. He previously held roles with Cook Flexner, the Corporate Property unit of Lazard Freres, AT&T Pension and Booz Allen.
# # #
Citi Institutional Clients Group
Citi Institutional Clients Group is a worldwide leader in corporate and investment banking, sales and trading, transaction services and alternative investments.
Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.