CEO Jane Fraser
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Citigroup announced 344 new managing directors on Thursday, its largest class under CEO Jane Fraser.It boosted the number of new MDs in technology, a unit core to Fraser’s transformation efforts.Here’s the list of names the bank tapped to help steer the firm through its next phase.
Citigroup on Thursday named 344 employees to the bank’s highest rank outside the C-suite, the most since Jane Fraser became CEO in 2021. The promotions were driven in part by its investments in technology amid a larger transformation effort.
Managing director promotions are an annual tradition across Wall Street and help to showcase the next generation of industry leaders. Citi’s MD promotions come as Fraser continues a yearslong effort to modernize and simplify the bank, including by thinning out its management ranks. Earlier this year, the banks said it would cut 20,000 jobs, roughly 10% of headcount, over the next five years.
Citi’s overhaul — known as the “Transformation” — includes efforts to upgrade the bank’s risk controls and tech following a series of missteps that landed the firm in hot water with regulators, including an accidental payment of nearly $900 million to creditors of the beauty brand Revlon in 2020.
This year’s MD class includes more leaders from its markets and technology groups, as well as the chief operating office, a Citi spokesperson told BI. The number of promotions in the services and banking units remained flat, the spokesperson said, adding that there was a slight decrease in US personal banking and legacy franchises, or businesses that the company is in the process of winding down.
Markets saw the largest number of promotions at 69, followed by 48 in its banking group (encompassing investment, commercial, and corporate banking), and 42 in wealth. Technology has 27 new MDs.
Citi officials, including Fraser and Viswas Raghavan, Citi’s new head of banking who joined in February from JPMorgan, praised the new class for their “relentless” pursuit of performance in a Thursday memo, a copy of which was obtained by Business Insider.
“Our new MDs have been instrumental in ensuring we continue making progress on our Transformation and with our regulators,” said the memo authored by members of Citi’s executive management team. “They continue to build our credibility with key stakeholders and are relentless about driving stronger business performance.”
The MDs were also honored Thursday morning with “roll call” gatherings within their respective business units — an annual tradition within some divisions that was expanded across the bank last year.
Here’s the full list of new managing directors at Citigroup and some key demographic stats:
Banking (48 names)
Aditya AgarwalSalomon AmkieVicente Alejandro Arevalo BarrabesLorenzo BeaccoChad BergertMike BerrySeok Hoon ChiaKC ClarkBlazej DankowskiLucy DevlinColm DonnellyOsama Naji El-AliCasper ElnegaardBen ExnerGustavo FontesAndre FunariMario GarciaRicardo GarzaCecile GuilleminotFerdinand HaindlMelissa HawGerman HeberlingElia HermidaWilliam HerrmannEric HimmelbergerCrystal JinGabe JuarezAbhishek KailaDai KitataniAbhinav LambaBilly LiuParam MUla MalczewskaSiena MalikSimon MarrisonGino MbetseAndrew Miller-JonesKevin O’SullivanDavid OjiMihail PolyakovPrateek RastogiPartha RathoreLinlin SunAlex SyhanathAtsushi TauchiSaffet TinaztepeYeung TsaiSunny Wang
Citibank, N.A. (2 names)
Rajan BrotiaBarry J White
Client (18 names)
Fatima BoolaniIan BoothLaura Chia Yi ChenAndrew GardinerNeary GueninShishir PrasadKenny PunTyler RadkeJennifer SarianoJamie SearleChirag ShahViral ShahJack ShangNoorie SinghAlbert SuttonJudy YipXiangrong YuCedric Zunino
Chief Operating Office (20 names)
Abhishek AgarwalRob BrodieSean BurnhamGeoffrey CapesErika FedericoKimberlie Hardial-ChooStuart HillKyle HughesKetan KhokhaniSwati KulkarniJames McGuiganAdrian MurphyJuan Francisco OrregoTim PalmerChris SkarzinskiCarolina SpaldingPamela St JohnSubha VChris WinterAdam Wood
Enterprise Services and Public Affairs (3 names)
Graham Buck
Anmol ChowdhryDavida HellerFinance (17 names)Bilal AkhtarPeter BattinYun-ni ChenPeter DemoiseMarcos DiazKimberly EgertMichael FilliusJanak GhoshKevin HongMatt JonasonDimba KierBertrand LouvardCynthia NgSandeep PatiRebecca ReebTeresa SalvatoYun Wang
Global Legal Affairs & Compliance (22 names)
Alberto Arenas, CSISKimberly Barnes, ICRMMichael Caravella, LegalShirley Carter, LegalSam Cory, ICRMMark Eliades, LegalApril Fredlund, LegalSteven Krause, ICRMDora Kreymborg, LegalAngie Lockley, CSISDana Lukens, LegalMatthew MacIntyre, CSISPiotr Matuszewski, ICRMRosie McAnlis, LegalGeardine McCann, LegalCiarán Murphy, ICRMPaul Patton, LegalDeborah Resch, LegalJose Riera, CSISMark Steuer, ICRMLaura Toustau, ICRMRosalie Yee, Legal
Human Resources (3 names)
Shari FunkShay GonenLaura Zablah
Internal Audit (9 names)
Neha BhardwajCallie BoydJosh GoldsmithGordon HuaSophia JingoPatrick KieltyNeil KothareJames KouameCindy Santoro
International (4 names)
Fahad AldeweeshMaria Paula CarvajalJonathan NixKubilay OzturkLegacy Franchises (6 names)Bill BurnsEnrique GranilloJesus JaureguiGonzalo PalafoxErick RamirezJean Rocha RodriguesMarkets (69 names)Laurence AssipRobert BeatsonPaul BerryMatthew BoyerSuninder Singh ChauhanAmish ChotaiDavid CollisAshish Kumar DagaMarc DamoiseauxConnor DwyerChuck EdmundsRichard FairhallCarlos FerrariMichael FershtmanImelda FrayreAndre GrossiRoshni GudkaAditya GuptaNatalia Gutierrez de la PezaKentaro HayashiPeter Nicholas HextSandy HouRocky HuangRob HughesFunmi IbidunniHoward IldertonJohan KablaNeha KapurYana KerestelievSubir KumarChristopher KuoEirini LerikouRonan ListonJorge LonegroSteffen LundeRoberto MassacciMaura McFaddenEgor MiroshnikovJim MonahanChen NiFonzarelli OngWarren ParkerVijay ParthasarathyMihaela PenesGalvin PhuaJason PillaiLuke PollockJonathan RadkeRohit RajgariaRichard RosinCamila RossettiDavid RufinoColin RyanManish SarafAngele SerikiBollie ShiflettMarie ShoEsben ShoenSiris SinghIqbal SohalKumar SubramanianAndrew SufkaAruna TatavartyDavy TsangMiro VuceticRishi WattsMarcus WeickelHenry WongJeff Wu
Office of the CEO (1 name)
Sigrid Nubla
Risk (16 names)
Mikael AmarGabby BanwaitOm BarlingeAnindya BasuBridget GriffinNayantara GuptaMatthew HaighChuck HouIbo LongjamShivi PuniaLiza RamsammyNavrup RanaRavi SuranaLogan TamresRodrigo VargasThomas Wood
Services (32 names)
Saurabh AroraKfeir BarkaiLeandra CattonAmit ChoudharyChris CookYoanna DarwinJane DulsonCarol FerrettiJames FlugstadElena GomezMandeep HeerJonathan JordanRonan KealyLenny LeoneSimon McConnellRoss McEwanMary MesserOlivia MorganSergei OganovPatrick O’NeillNikhil PatankarSonal PatelLeandro QuintalRob RansonAndy RenKirstin RennerSean RubyYvonne SwainstonTomas VidelaHeidi WilloxElias XilasMelissa Ongleo Yambao
Technology (27 names)
Catherine AblottMohamed AlsaloomShante AveryKashif AwanNidhruv BahreeMark BallardAndre BatistaKathryn BeardRachel CarpenterNoby George CheruvathoorGonzalo CordovaNigel DeverteuilRyan EvansJeffrey HazelAdam HessJohn Shannon HogueHong JiangDave JonesHitesh KshatriyaGreg LurieRajesh M KDeepak NaberaSteven ReadettJon RosenMichael TodiscoNishanth VontelaRajesh Wadhwa
U.S. Personal Banking (5 names)
Jeff ChwastTimothy R DoughertyTracy GoldmanSri K LakamsaniSupriya Ramamurthy
Wealth (42 names)
Yogi AbhyankarEmile AbinaderRob AndersonZeshan AzamNicola BakerChristopher BarronStewart BoagOlga BogdanovaGreg ByrneWinnie ChoiMendy ChungJuan Francisco ClemenzaSheethal DalpathrajDavid C DarshanBeth EmswilerMatthew Ferrari-WellsJenny FungCarlos Garcia-CrespoBrad GoldbergHollie GriegoDanny JonesEric KrausMark Chung Hei LeeLena Siew Geok LimJason LiuAndrew LouwAlinne Majarian FashVlod MakarAlex MarksKishore Indroo MotwaniLuis NegreteDiego ParlaghyClaudia PenidoJuan Guillermo RamirezGaston RodriguezJason RosenEinat SadkaMasa SekulicKathy StithNarayan SwamyDiego SzuldmanFrederic Viaud
Here are some key stats about the group:
29% are women.24% joined through Citi through an early-career program.56% are multilingual and 30% have worked in two or more countries.The new MDs have a median of 20 years of experience in financial services.They are from 29 countries and comprise 35 nationalities.North America represents the largest number of new MDs, 174 or 50.6%. The United Kingdom is second with 68, or 19.8%, followed by Japan, Asian North & Australia at 35 (10.2%), Asia South: 28 (8.1%), Latin America: 19 (5.5%), Europe: 15 (4.4%), Middle East & Africa: 5 (1.5%).
Among the 174 promotes who are based in the US, 44.8% are racially or ethnically diverse. While some identify with more than one racial or ethnic group, here’s a breakdown:
25.9% Asian (45)6.3% Black (11)12.6% Hispanic/Latino (22)
