Top Citigroup UK dealmaker Jan Skarbek resigns

CITIGROUP dealmaker Jan Skarbek, one of the UK's most high-profile investment bankers, has resigned from the firm amid an ongoing probe, people with knowledge of the matter said.

The US lender announced internally this week that Skarbek is leaving after about 28 years with the firm, according to the people, who asked not to be identified because the information is private. It promoted Skarbek last year to become co-head of its banking, capital markets and advisory business in the UK and Ireland.

Citigroup had suspended Skarbek pending an investigation into allegations of misconduct, Bloomberg News reported in July. The bank has been looking into a complaint about comments that Skarbek allegedly made to a female employee during a recent staff getaway, people with knowledge of the matter said at the time.

The probe was still ongoing at the time of Skarbek's resignation and hadn't reached a conclusion, the people said. A representative for Citigroup declined to comment, as did Skarbek.

Skarbek advised British bookmaker William Hill last year on its £2.9 billion (S$4.9 billion) sale to Caesars Entertainment and worked with US aerospace firm Parker-Hannifin on its £6.3 billion takeover of Meggitt, according to exchange filings.

He also advised buyout firm Clayton Dubilier & Rice on its US$3.9 billion acquisition of London-listed pharmaceutical services provider UDG Healthcare.

Citigroup ranked eighth among advisers on takeovers of UK companies last year, with a role on US$34.5 billion of transactions, according to data compiled by Bloomberg.

The bank ranked third among underwriters of London initial public offerings in 2021, behind only JPMorgan Chase and Bank of America, the data show. It had roles on listings of companies including food delivery app Deliveroo, private equity firm Bridgepoint Group and greeting card platform Moonpig Group. BLOOMBERG