A Citi MD who was promoted in December found a new job
Citi presumably wanted to keep Matt Fink.
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Fink was Citi's New York-based co-head of leveraged credit sales. Citi promoted him to that role in February 2023 and then promoted him to managing director in December.
Fink, however, is not hanging around. We understand he has resigned to join another bank. The bank is joining is allegedly Bank of America.
Citi declined to comment on Fink's movements. Bank of America declined to comment on whether Fink will turn up there. Fink was silent.
Fink joined Citi from Deutsche Bank in 2019. JPMorgan noted a few weeks ago that leveraged loans are making a comeback in 2024. US leveraged loan issuance was up 277% year-on-year in January and February.
Fink's disappearance comes as Citi is cutting 20,000 jobs, but not revenue generators like Fink.
Fink began his banking career in 2008, at the time of the financial crisis. Speaking to the New York Times at the time, he declared that it was all about optimism. “Positive thinking, positive thinking, that’s what I tell myself,” said 25-year-old Fink, then in his first year at Columbia Business School and a summer intern at Lehman Brothers. “You hear Bank of America, Citigroup, Merrill, Lehman, Bear. Every day, one of them is the lead story in the news. And that’s where many of us have jobs. You just have to hope for the best.”
Fink interned at Lehman that summer, but then joined Barclays when it acquired Lehman's US business. He spent less than two years at Deutsche Bank, eight years at Barclays and less than five years at Citi. Now he's off again.
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