A prominent figure in student loan securitization, Paul B. Sheldon, left Citigroup Global Markets just over a week ago, sources confirmed last week. His departure came several days before the investment bank announced a massive cost-cutting campaign.
Sheldon, who joined Citigroup in 1991, was a managing director and co-head of its student loan group. Aside from overseeing publicly offered debt, Sheldon handled the acquisition of student loan businesses, as well as the sale and purchase of whole loans. He also promoted financing early childhood education loans through securitization, and applied the technique to the $750 million Southwest ECD Acceptance Corp transaction, proposed last October.