Vision rehires Citi LBO banker Shafer -sources

* Former Lehman banker Shafer joined Citi as MD in June

* Vision owns British “rent-to-own” retailer Brighthouse

By Quentin Webb and Simon Meads

LONDON, Sept 1 (BestGrowthStock) – Private equity firm Vision
Capital has rehired Matt Shafer from Citigroup (C.N: ), two people
familiar with the matter said, less than three months after Citi
poached him to bolster its team advising buyout firms.

Citi suffered a series of senior defections from its
European investment banking business earlier this year,
including several departures to Barclays Plc (BARC.L: ) unit
Barclays Capital. It countered by making a string of
appointments, including Shafer. [ID:nLDE6520PL]

Shafer worked for Lehman Brothers and Nomura (8604.T: ) before
first joining Vision last year.

He joined Citi on June 7 as a managing director in its
financial entrepreneurs group, which advises private equity
firms on leveraged buyouts (LBOs) and other matters.

Vision, the former owner of collapsed British wine merchants
Threshers and Wine Rack, specialises in buying whole portfolios
of companies from private equity firms and conglomerates. It is
looking at opening a U.S. office, one of the people said.

Its biggest investment by revenue is Brighthouse, which has
resurrected the “rent-to-own” model in the British retail
sector, offering washing machines, sofas and flat-screen
televisions on a pay-weekly basis to customers who struggle to
get credit.

Citi and Vision declined to comment. Shafer did not
immediately respond to telephone and e-mail requests for
comment.
(Editing by David Holmes)

Vision rehires Citi LBO banker Shafer -sources