Citi
Citi dominated the CDO landscape in Europe in 2006, with a 70-strong global CDO business that closed 12 public transactions representing around €5.25 billion ($7.1 billion) of issuance. Its major strength was seen as the integration of its cash and synthetic business within CDOs, along with the development of new structures such as the well-received Evolution, a unique global deal structured out of London that referenced emerging market sovereigns. In 2006 Tim Beaulac headed the European cash CDO business, which is now run by David Blackwelder.