Bryan van der Beek | Bloomberg | Getty Photographs
Jamie Forese, President of Citigroup Inc. and head of the institutional purchasers group, speaks on the Milken Institute Asia Summit in Singapore, on Friday, Sept. 19, 2014. Chief govt officers, senior authorities officers and main figures within the world capital markets convened on the world convention’s inaugural summit in Asia.
Citigroup president Jamie Forese will retire after greater than three many years on the funding financial institution, in line with an inside memo seen by CNBC on Thursday and confirmed by a Citi official.
Forese is likely one of the longest serving executives at Citi, whose function additionally included serving because the lead for the financial institution’s Institutional Shoppers Group (ICG). That group introduced in about half of Citi’s income final 12 months. There he can be succeeded by Paco Ybarra, who served as Forese’s deputy at ICG.
The memo didn’t point out when the transition would happen.
Citigroup is the third largest U.S. lender by property.