Thomas G. Maheras is a managing partner of Tegean Capital Management, LLC, a New York-based hedge fund founded in 2008.
Previously, Mr. Maheras was Chairman and Co-Chief Executive Officer of Citi Markets and Banking (CMB), the investment banking division of
Citigroup Inc. Prior to that, from 2004–2006, he was the head of Global Capital Markets at Citigroup. Mr. Maheras was the head of global fixed income for
Salomon Brothers
Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York. It was one of the five largest investment banking enterprises in the United States and the most profitable firm on Wall Street durin ...
when it was acquired by
Travelers Group
The Travelers Companies, Inc., commonly known as Travelers, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through indepen ...
in 1997, and remained in the same role through the merger of Travelers and Citicorp in 1998.
Mr. Maheras joined the high-yield desk at Salomon Brothers 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. Mr. 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
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events ...
traders in all of
Wall Street. He was thought to be in a position to eventually lead the firm before its merger with
Smith Barney
Morgan Stanley Wealth Management is an American multinational financial services corporation specializing in retail brokerage. It is the wealth & asset management division of Morgan Stanley.
On January 13, 2009, Morgan Stanley and Citigroup an ...
.
He is currently chairman of the board of directors at
Discover Financial
Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates ...
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.
Mr. Maheras previously served as Chairman of the U.S. Treasury Department Borrowing Advisory Committee and as an executive committee member of the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA).
Maheras became a figure of some controversy in 2007.
Charles Gasparino, in his book on the 2007-08 crises, portrays Maheras' overly chummy relationship with Citi's risk managers as part of the problem that allowed for
mortgage bond
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any p ...
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)]
Mr. Maheras was born in Chicago, Illinois, and received his BBA in Finance from the University of Notre Dame.
References
{{DEFAULTSORT:Maheras
University of Notre Dame alumni
Living people
University of Notre Dame Trustees
Year of birth missing (living people)