Thomas (Tom) G. Maheras is an American finance executive that is currently a managing partner of Tegean Capital Management, LLC, a New York-based hedge fund. Maheras became a figure of some controversy during the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

, while being Co-Chief Executive Officer of

Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, t ...

having a chummy relationship with Citi's risk managers as part of the problem that allowed for mortgage bond related risks to accumulate.

Early life and education

Maheras was born in Chicago, Illinois, and received his

Bachelor of Business Administration A Bachelor of Business Administration (BBA) is an undergraduate degree in business administration awarded by colleges and universities after completion of four years and typically 120 credits of undergraduate study in the fundamentals of busine ...

in Finance from the

University of Notre Dame The University of Notre Dame du Lac (known simply as Notre Dame; ; ND) is a Private university, private Catholic research university in Notre Dame, Indiana, United States. Founded in 1842 by members of the Congregation of Holy Cross, a Cathol ...

Career

Maheras joined the high-yield desk at

Salomon Brothers Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five List of investment banks, largest investment banking enterprises in the United States and a very profitabl ...

in 1984, shortly after graduating from Notre Dame. He ran the desk from 1989–1994, when he was asked to oversee the mortgage securities division. He became the head of the global fixed-income department in 1996. Maheras was widely credited with turning around Salomon's money-losing mortgage securities operation and became “one of the top two or three high-yield bond traders in all of

Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...

. He was thought to be in a position to eventually lead the firm before its merger with Smith Barney. Maheras became head of global fixed income for

when it was acquired by Travelers Group in 1997, and remained in the same role through the merger of Travelers and Citicorp in 1998. From 2004–2006, he was the head of Global Capital Markets at Citigroup. He then became Chairman and Co-Chief Executive Officer of Citi Markets and Banking (CMB), the investment banking division of Citigroup Inc..

2008 financial crisis and Citibank mortgage bonds

Maheras became a figure of some controversy. Charles Gasparino, in his book on the

, portrays Maheras' overly chummy relationship with Citi's risk managers as part of the problem that allowed for mortgage bond related risks to accumulate. When Maheras' superior at Citi, Charles Prince, learned of the size of Citi's exposure, he pressed for a restructuring of the IB operation that led to Maheras' departure.Gasparino, Charles: The Sellout (2009)

Current position

He is currently chairman of the board of directors at Discover Financial Services in Riverwoods, Illinois. He is also a member of the Board of Trustees of Carnegie Hall and a member of the Business Advisory Council for the Mendoza College of Business at the University of Notre Dame.

Other roles

Maheras served as Chairman of the U.S. Treasury Department Borrowing Advisory Committee for six years between 2001 and 2007 and was as an executive committee member of the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA) in 2007.

References

{{DEFAULTSORT:Maheras University of Notre Dame alumni Living people University of Notre Dame Trustees 1962 births