Finance
Citi is shaking up its consumer bank — and a key executive is out
Citigroup is shaking up its consumer banking unit.
The bank announced Monday several changes in the top rungs of management within its Global Consumer Banking division in an effort to “align our structure with our strategy,” Stephen Bird, the CEO of the division, wrote in a memo viewed by Business Insider.
Citi’s consumer operation in the US is moving to a regional model — which is how its retail operations in Mexico and Asia are currently organized — a restructuring that will come with two new roles:
- Anand Selva, currently the head of consumer banking in Asia Pacific, will be the head of US consumer banking.
-
David Chubak, currently the head of global retail banking, will be head of retail banking and consumer lending.
Jud Linville, the head of global cards and consumer services, is leaving the firm after eight years.
“Today, I am announcing a new organizational structure and two new roles to harmonize our operating model globally. This will intensify efforts to win in the U.S., our largest market, and drive greater client- centricity across product, segment and geography,” Bird said in the memo.
This story is developing.
-
Entertainment7 days ago
Hands-on with the Claude AI app: It’s pleasant to use, but janky
-
Entertainment5 days ago
Apple Watch Series 9 vs. SE: A smartwatch skeptic tested both for 13 days
-
Business7 days ago
Haun Ventures is riding the bitcoin high
-
Entertainment6 days ago
5 essential gadgets for turning your home into a self-care sanctuary
-
Business4 days ago
Google lays off workers, Tesla cans its Supercharger team and UnitedHealthcare reveals security lapses
-
Entertainment5 days ago
The greatest films on Prime Video right now
-
Business6 days ago
Google dubs Epic’s demands from its antitrust win ‘unnecessary’ and ‘far beyond the scope’ of the verdict
-
Business6 days ago
Apple: pay attention to emerging markets, not falling China sales