Citigroup Unit Hires Michael Mauer to Head U.S. Loan Syndicate

Business Wire, March 21, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--March 21, 2001

Citigroup (NYSE:C) today announced that its Citibank/Salomon Smith Barney loans unit has hired Michael C. Mauer as Managing Director and Head of U.S. Loan Syndicate. In this newly created position, Mr. Mauer will work closely with the high grade and leveraged finance teams, focusing on the new issue business with a continued emphasis on quality distribution. He will report to Chad A. Leat, Head of Global Loans for Citibank/Salomon Smith Barney.

Mr. Leat commented: "Mike is one of the leaders in the loans business, commanding a tremendous depth of knowledge and an impressive stable of client relationships. In working with our new issue teams, Mike will help ensure consistent execution across the credit spectrum. We are extremely pleased to have Mike onboard."

Mr. Mauer, 39, joins Citigroup from J.P. Morgan Chase & Co., where he had been head of loan syndication for J.P. Morgan Securities. In this capacity, he oversaw the syndication, sales and trading of loans in the U.S. and Latin America. Prior to holding this position, Mr. Mauer was head of loan sales and trading. He joined J.P. Morgan in 1988 and held numerous positions in the firm.

Mr. Mauer was previously a senior accountant with Price Waterhouse & Co. where he began his career in 1982. He has an M.B.A. from Columbia University Graduate School of Business and a B.A. from University of Scranton.

Citibank/Salomon Smith Barney is the recognized global leader in loan syndication, origination, research, sales and trading. Winner of International Financing Review 's "Global Loan House of the Year" award for the second consecutive year in January 2001, Citibank/Salomon Smith Barney is currently ranked #2 in U.S. syndicated loans market share.

Citigroup is the most global financial services company, providing some 100 million consumers, corporations, governments and institutions in more than 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. Included under Citigroup's trademark red umbrella are such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial and Primerica. Additional information may be found at www.citigroup.com.