Citigroup Global Markets is considering merging its fixed income structuring and structured corporate finance teams. Under current plans, Andrew Geczy, head of the corporate structuring team in investment banking, will assume control of the merged group and Paul Deards, head of the fixed income structuring team, will report to him, according to officials. Neither Geczy nor Deards returned calls and Danielle Romero-Apsilos, spokeswoman at Citigroup in New York, declined comment.
If the plan goes ahead it would be the biggest reorganization of the firm's structuring groups in recent years, said officials.
The divisions currently operate different businesses albeit with some overlap. For example, staffers from both groups were involved in structuring controversial transactions for Enron, explained one official. Geczy's corporate structuring group that sits within investment banking is the larger of the two groups. Deards' structuring group within fixed-income, meanwhile, works on an array of corporate, fixed-income and capital market structures.
