Peter Dorfman has left Bank of America’s sports finance group to join Citigroup’s private bank. His departure means the top two sports executives at Fleet Financial Group, which Bank of America bought last year, have left that bank.
Dorfman will continue focusing on sports at Citigroup, which has been ramping up its practice in the area.
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“In his new position, Peter will serve as the lead transactor for Citigroup private bank’s sports finance activities and will work closely with the central offices of professional sports leagues and sports franchises to find the most appropriate financing solutions,” the bank said in a statement. “Mr. Dorfman will be based in Boston and will report to William Demick, head of business finance.”
Dorfman worked under Greg Clark at Fleet, which led the MLB credit facility, now at $1.5 billion. When Bank of America bought Fleet, it merged the two biggest sports finance groups in the business.
Clark and Dorfman both initially were announced as part of the new, larger group, but speculation naturally centered on if, or how long, they would stay. Clark left the bank last year.
— Daniel Kaplan
