June 16 (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research), the largest U.S. bank, said Frank Yeary will leave his position as head of global mergers and acquisitions in mid-July to assume a new vice chancellor post at the University of California at Berkeley.
Yeary, 44, led Citigroup's mergers and acquisitions team for five years. According to Thomson Financial, the New York-based bank ranked fourth in providing merger advice in 2006 and 2007 based on transaction size.
So far in 2008, it has ranked third with $384.3 billion of transactions, trailing only Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) and JPMorgan Chase & Co (JPM.N: Quote, Profile, Research), Thomson said.
Yeary joins a growing list of top Citigroup executives to leave the company since Vikram Pandit in December replaced Charles Prince as chief executive.
Raymond McGuire, co-head of global investment banking at Citigroup, will oversee the mergers and acquisitions team until the bank replaces Yeary. Citigroup said it will name a replacement “in due course.” (Reporting by Jonathan Stempel in Bangalore; Additional reporting by Paritosh Bansal in New York; Editing by Derek Caney)