The heads of CMBS trading at Citigroup and Goldman Sachs departed this week according to a Bloomberg report.
Warren Geiger left Citi, according to a statement today from the bank. Meanwhile, Matthew Salem, head of CMBS trading at Goldman Sachs, departed earlier this week, according to the report.
Both banks made headlines this week as they were forces to withdraw their GS Mortgage Securities Trust 2011-GC4 transaction after Standard & Poor's said it would not be able to deliver final ratings for the deal. S&P had previously informed Goldman and Citi that they were prepared to rate the GC4 transaction.
A spokesperson at Citi said that the Geiger's departure is unrelated to the S&P news, according to the Bloomberg report.