Citigroup’s ‘Master of the M&A Universe’ Steve Volk to Retire

Citigroup Inc. said Steve Volk, who advised the lender’s last three CEOs and helped the company shed nearly $1 trillion of assets following the financial crisis, will retire from the bank next year.

Volk, who joined Citigroup in 2004 as vice chairman, will retire in February, according to an internal memo signed by Chief Executive Officer Michael Corbat and two of his top deputies. Volk is also chairman of the institutional-clients group.

Stephen Volk in 2010.

Photographer: Peter Foley

“Steve has helped bring in and maintain some of our most important and durable client relationships,” Corbat, along with President Jane Fraser, who has been ...