WASHINGTON -- Michael Basham, the Treasury Department's deputy assistant secretary for federal finance, is leaving the department Aug. 15 to return to the private sector, Treasury officials announced yesterday.

A Treasury spokesman declined to name Mr. Basham's successor, but market speculation centered on Henry Mlynarski, head of government trading at Citibank. A Citibank spokesman confirmed that Mr. Mlynarski has resigned from the bank, but declined to comment further.

In an interview with The Bond Buyer in late June, Mr. Basham said that he planned to leave Treasury and wanted to return to the bond business on Wall Street. Before joining Treasury in October 1989, he served as vice president in the government bond department of Wertheim Schroder & Co.

Mr. Basham could not be reached for comment. A report on Dow Jones Capital Markets yesterday said that he apparently will be joining Smith Barney, Harris Upham & Co. in New York.

The deputy assistant secretary for federal finance is responsible for planning and conducting Treasury debt auctions and serves as government liaison with the primary dealers. The office also provides advice on legislation that affects the securities industry.

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