Rangell departs Triton for Citibank job

Sports banker Brad Rangell has left fledgling Triton Sports Associates to join Citibank. At Citibank, he will work with Bill Demick, the financial giant's point man on sports loans.

Rangell helped found Triton last year with two of his ex-Lehman Bros. colleagues. Triton advises sports concerns and recently was aiding the Arena Football League in its efforts to raise money.

Triton Chief Executive Gordon St. Denis said he would be looking to replace Rangell and that business was good. He declined to say why Rangell left.

Rangell, who will be a vice president, wouldn't comment. A Citibank spokesman said it was company policy not to comment on new hires.

Triton's only other employee is Ashish Raythatha. The company is one of several niche sports investment banks created in the last several years.

— Daniel Kaplan