Jon Conahan

Biography

Jon Conahan is a former American banker and investment banker. He was the President of Citigroup’s Institutional Clients Group from 2006 to 2008. Conahan was born in 1956 in New York City. He graduated from the Wharton School of the University of Pennsylvania with a degree in economics. Conahan began his career at Salomon Brothers in 1978. He worked in the firm’s investment banking division for 15 years, rising to the position of Managing Director. In 1993, Conahan joined Citigroup as a Managing Director in the firm’s Corporate and Investment Banking division. He was promoted to President of the Institutional Clients Group in 2006. Conahan resigned from Citigroup in 2008 amid the financial crisis. He has since served as a consultant to several financial institutions.

Career

Conahan’s career in finance spanned over three decades. He held senior positions at Salomon Brothers and Citigroup, and was responsible for advising some of the world’s largest corporations on their financial transactions. Conahan’s most notable achievement was his role in the 1998 merger of Travelers Group and Citigroup. The merger created one of the world’s largest financial institutions, and Conahan was credited with helping to smooth the integration of the two companies. Conahan also played a key role in Citigroup’s acquisition of Wachovia in 2008. The acquisition was controversial at the time, as it was seen as a bailout of Wachovia by the federal government. However, Conahan argued that the acquisition was necessary to preserve Citigroup’s stability during the financial crisis.

Legacy

Conahan is considered to be one of the most influential bankers of his generation. He was a pioneer in the development of structured finance products, and he played a key role in the growth of the financial services industry. Conahan’s legacy is also tainted by his role in the financial crisis. He has been criticized for his role in the collapse of Bear Stearns and Lehman Brothers, and for his failure to prevent the crisis from happening. Despite the controversy surrounding his legacy, Conahan remains one of the most respected figures in the financial services industry. He is a frequent speaker at industry conferences, and he is often consulted by governments and regulators on financial issues.

Awards and honors

Conahan has received numerous awards and honors for his work in finance. He was named one of the “100 Most Influential People in Finance” by Fortune magazine in 2007. He was also awarded the “Distinguished Service Award” by the American Bankers Association in 2010.