Citi’s Latest Leadership Changes

Citi has recently announced a new wave of senior leadership appointments. On Wednesday, the bank revealed it will promote 276 individuals to managing director, showcasing a strong commitment to enhancing its organizational structure.

This year’s group features 55 promotions in the marketplace, 45 in banking, 40 in wealth management, and 33 in services—the latter being the division focused on helping customers manage their finances globally. These changes reflect Citi’s positive performance and strategic intent to foster growth in banking, wealth management, and its specialized services, which have all experienced significant transformations in recent years.

The current promotion class is about 20% smaller than the last, which saw 344 individuals elevated to managing director in 2024. However, it’s worth noting that this is the largest group since Jane Fraser stepped in as CEO. The previous group was particularly weighted toward markets and technology roles. Yet, this year’s smaller class marks the fewest promotions since 2020 when only 241 were promoted. For context, Citi had announced 304 new MDs in 2023, 331 in 2022, and 306 in 2021.

In a memo shared within the company, members of the executive team, including CEO Jane Fraser, expressed that this year has posed considerable challenges. They acknowledged the contributions of each newly promoted MD, highlighting how they adapted to a rapidly changing environment while maintaining focus on the most critical issues, ultimately helping push Citi toward becoming a more AI-driven bank.

A spokesperson for Citi commented that the number of promotions can differ each year, influenced by factors such as the company’s evolving needs, attrition, and hiring practices.

To mark the occasion, Citi conducted a “roll call” meeting on Wednesday morning across its various business units. Some participants joined in person, while others connected remotely—a practice the bank has increasingly embraced over the years. Executives led a conference call with the new MDs to offer guidance and followed up with individual roll calls.

This round of promotions aligns with Citi’s ongoing efforts to simplify its structure, bolster its risk management, and invest in significant technological improvements.

Revisiting Bank Strategy

The bank has undergone notable leadership restructuring and reorganization in key areas. Under Fraser’s guidance, prominent talents, like former JPMorgan executive Biswas Raghavan, have been brought in to revitalize the firm’s investment banking segment.

Over the past year, Citi has seen commendable growth in investment banking—third-quarter commissions rose 23% year-over-year to $1.15 billion, while its markets division, which deals with trading, experienced a 15% increase.

The new class of managing directors includes members from 21 countries representing 32 nationalities. A significant portion, around two-thirds, are multilingual, and 30% have experience with Citi in at least two different countries. The average tenure with the firm stands at 16 years, and overall, they each bring about 20 years of experience in the financial services sector. Notably, 23% of this class started with Citi through its early career program.

Almost half of the newly promoted members are based in North America, with 18% in the UK, and nearly 10% each in Japan, North Asia, and Australia, while the remaining members are distributed across other regions.

Complete List of Newly Promoted Managing Directors

Banking (45)

• Ram Anand
• Siddhartha Bansal
• Irina Berg
• Aaron Block
• Thomas Blanccourt
• Sarah Bridon
• Mateo Casady
• Ricardo Celaeta
• Varun Chohani
• Alexios Koskolos
• Nick J. Drazic
• Samuel H. Eisner
• Sacha Hahn
• Thomas Holsten Roeren
• Junhong
• Ken Huat Koai
• Terry Koizo
• Brian Krieger
• Piotr Krupa
• Jonathan Laycock
• Lee Min Ha
• Ryan Lee
• Menzi Lukele
• Christopher Marino
• David Moreno
• Koyu Mori
• Victor Murad
• Janusz Nelson
• Milan Ninkov
• Daniel Ocerny
• Vineet Puri
• Ifti Qurashi
• Shirley Riches
• Raimund Riedl
• Alfonso Saturno
• Michael Seidenfeld
• Dhruv Sethi
• Pay Pay Sim
• Sam Soon
• Stephen Thompson
• Nishit Ranjan Tripathi
• Mimi Tse
• Vineet Betts
• Stephen White
• Third Zaman

Chief Operating Officer (7)

• Babar Ahmed
• Tracy Brooks
• Sheetal Chanderkar
• David Noyce
• Scott L. Phillips
• Brett Russo
• Sana Saeed

Client (18)

• Eugene Berostotsky
• Vanessa Bernardino
• Yogesh Bhatt
• Tom Cerasoli
• Nedra Nichelle Collins
• Alexander Gfanti
• Jeffrey Karges
• Eric O Regan
• Beata Mansey
• Andre Magini
• Jyoti Narayanan
• Caio Patricio
• Monique Pollard
• Vibhoor Rastogi
• Arthur Smith
• Hana Uddin
• David M. Wallin
• Kaina Wong

Enterprise Services and Public Relations (1)

• Lula Dajani

Finance (12)

• Tristan Clarke
• Eric Hawk
• Jay Maxwell
• Diego Miyake dos Santos
• Ney Peralta
• Robert Subochik
• Watchley Tiboldin
• Ben Vance
• Sharan Wadhwa
• Wanghua
• John Warren
• Matt Welsh

Global Legal & Compliance (17)

• Maytan Arozena
• Jonathan Berkey
• Sandra Behar
• Soumyajyoti Bose
• Jessica Britton
• Mark DeAngelis
• Robert Erlich
• Rick Gambs
• Omar Garduño Chavero
• Lindsey Gatto
• Justin Mark Irwin
• Bruno Cumi
• Fiona Mahon
• Valery Nezianya
• Abhimanyu Singh Poonia
• Rahul Dev Sharma
• Ann-Katrin Wilczek

Human Resources (3)

• Victoria Hooker
• Jacqueline Lucas
• Mark Polinsky

Internal Audit (2)

• Cedric Pariset
• Amine Trifi

International (2)

• Jay Jara
• Malcolm Muñoz

Legacy Franchise (7)

• Eduardo Alegre Marquez
• Robert Baltazares
• Alejandro Diaz Romo
• Larissa Garduño
• Srikanth Marisetti
• Xavier Villalobos
• Carlos Zamudio

Market (55)

• Omar Ahmed
• Eric Bakkensen
• Miles Patrick Bartholomew
• Thomas Boe
• Kanika Berry
• Thomas Beavis
• Stefania Calabretta
• Alex Chu
• Sangini Chopra
• Dominique De Payrecave
• Lindsey Dechiaro
• Gaurav Dhingra
• Matthew Doyle
• Ryan Ellis
• Michael Fielder
• Troy Fraser
• Brian Fugazi
• Tom Gallagher
• Ben Gardiner
• Sean Garvey
• Ting Guo
• Tom Heslop
• Kyle Higgs
• Vito Hinola
• Stuart Kaiser
• Ryutaro Katano
• Christina Keeler
• Kemal Keskin
• Ray King
• Giovanni Laurelli
• Desislava Lazarova
• Hyunjoo Albert Lee
• Sunny Lee
• Noah Mao
• Liam McShane
• Deepak Mehra
• Lubna Mutai
• Hoi Wan Ng
• Truong Nguyen
• Andrea Olivari
• Sebastian Palacio
• Jennifer Podrugiel
• Yash (Shreyash) Priyank
• Diana Ribeiro
• Bryant Schlichting
• Nagaraja Shenoy
• Son Byung-no
• Son Jeongwon
• Thomas Zersty
• Michael Tamburino
• Enrique Utorini
• Mandakini Vada
• Sean Walsh
• Tadeusz Wysocki
• Timothy Young En

Risk Management (11)

• Ritesh Bansal
• Shivani Datadin
• Matt Fleet
• Christian James
• Lauren Carfonta
• Elizabeth McAlpine
• Shilpa Saroja
• Charles Tao
• Shantanu Upadhyay
• Natalia Villazin
• Yoyo (Xiaotong) Yang

Service (33)

• Rina Aichi
• Lorna Ballard
• David Bartlett
• Ignacio Capparelli
• Valentina Chuan
• Patricia Collegari
• Rubin Kiran Dave
• Arpit Desai
• Virginie Duibi
• Katie Diraj
• Katherine Earl
• Meng Weifeng
• Brian Govan
• Ganas Govender
• Ilyas Khan
• Nimit Kare
• Shin Lin
• Aneesh Kumar Mahajan
• Jared Mecum
• John Murphy
• Mick Murray
• Tony Nanez
• Caitlin Oster
• Christopher Piparo
• Andrew Quan
• Christopher Loven
• Christoph Rosemeyer
• Ernesto Sarria
• Sharyn Shroff
• Rufus Southwood
• Rodrigo Takak
• Will Thorne
• Tanya McKnight Williams

Technology and Business Enablement (15)

• Zak Bari
• Katie Fontana
• Lama Gontra
• Shantaram Iyer
• Prashant Jainism
• Daniel Jepp
• Alina Kamato
• Konstantin Koss
• Rajiv Mirjankar
• Viral Patel
• Kevin Peele
• Namita Saran
• Bhagavati Satchitantam
• Nikhil Shah
• Elvis Bellis

US Personal Banking (8)

• Matthew DiPisa
• Rohan De Souza
• Promity Datta
• Patrick Gallagher
• Paul Gawryk
• Jess Lucas
• Nerineri
• Dani Paul

Wealth (40)

• Manuel Alvarez
• Patricia Avarone
• Zakir Banatwala
• Duygu Baidur
• Julie Bennett
• Gunjan Bhatt
• Boyko Botev
• Analysia Gill Brockett
• Asad Chaudhry
• Benjamin DX Chu
• Angie Clardy
• Vishal Desai
• Jose Huerta
• Ahmad Jamaleddin
• Richard Jean
• Stephen Lantz
• Jeanne Lee
• Andrew Lee
• Sherlock Lou
• Bilal Malik
• Megan Malone
• Vikram Manik
• Peter Manno
• Morgan Morris
• Sara Wee Hian O
• Stephen Park
• Avani Vasant Patel
• Darlene Eutin Patterson
• Deborah Kelb
• Sebastian Rubano
• Thomas Schlaus
• Ash Shandilya
• Vibhoor Singh
• Michael Schillante
• Priya Srikantarajah
• Luca Vodini
• Ivo Voynov
• Richard Weintraub
• John Whitelaw
• Zhu Rui Rui