- 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 weredriven 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 Agarwal
- Salomon Amkie
- Vicente Alejandro Arevalo Barrabes
- Lorenzo Beacco
- Chad Bergert
- Mike Berry
- Seok Hoon Chia
- KC Clark
- Blazej Dankowski
- Lucy Devlin
- Colm Donnelly
- Osama Naji El-Ali
- Casper Elnegaard
- Ben Exner
- Gustavo Fontes
- Andre Funari
- Mario Garcia
- Ricardo Garza
- Cecile Guilleminot
- Ferdinand Haindl
- Melissa Haw
- German Heberling
- Elia Hermida
- William Herrmann
- Eric Himmelberger
- Crystal Jin
- Gabe Juarez
- Abhishek Kaila
- Dai Kitatani
- Abhinav Lamba
- Billy Liu
- Param M
- Ula Malczewska
- Siena Malik
- Simon Marrison
- Gino Mbetse
- Andrew Miller-Jones
- Kevin O'Sullivan
- David Oji
- Mihail Polyakov
- Prateek Rastogi
- Partha Rathore
- Linlin Sun
- Alex Syhanath
- Atsushi Tauchi
- Saffet Tinaztepe
- Yeung Tsai
- Sunny Wang
Citibank, N.A. (2 names)
- Rajan Brotia
- Barry J White
Client (18 names)
- Fatima Boolani
- Ian Booth
- Laura Chia Yi Chen
- Andrew Gardiner
- Neary Guenin
- Shishir Prasad
- Kenny Pun
- Tyler Radke
- Jennifer Sariano
- Jamie Searle
- Chirag Shah
- Viral Shah
- Jack Shang
- Noorie Singh
- Albert Sutton
- Judy Yip
- Xiangrong Yu
- Cedric Zunino
Chief Operating Office (20 names)
- Abhishek Agarwal
- Rob Brodie
- Sean Burnham
- Geoffrey Capes
- Erika Federico
- Kimberlie Hardial-Choo
- Stuart Hill
- Kyle Hughes
- Ketan Khokhani
- Swati Kulkarni
- James McGuigan
- Adrian Murphy
- Juan Francisco Orrego
- Tim Palmer
- Chris Skarzinski
- Carolina Spalding
- Pamela St John
- Subha V
- Chris Winter
- Adam Wood
Enterprise Services and Public Affairs (3 names)
Graham Buck
- Anmol Chowdhry
- Davida Heller
- Finance (17 names)
- Bilal Akhtar
- Peter Battin
- Yun-ni Chen
- Peter Demoise
- Marcos Diaz
- Kimberly Egert
- Michael Fillius
- Janak Ghosh
- Kevin Hong
- Matt Jonason
- Dimba Kier
- Bertrand Louvard
- Cynthia Ng
- Sandeep Pati
- Rebecca Reeb
- Teresa Salvato
- Yun Wang
Global Legal Affairs & Compliance (22 names)
- Alberto Arenas, CSIS
- Kimberly Barnes, ICRM
- Michael Caravella, Legal
- Shirley Carter, Legal
- Sam Cory, ICRM
- Mark Eliades, Legal
- April Fredlund, Legal
- Steven Krause, ICRM
- Dora Kreymborg, Legal
- Angie Lockley, CSIS
- Dana Lukens, Legal
- Matthew MacIntyre, CSIS
- Piotr Matuszewski, ICRM
- Rosie McAnlis, Legal
- Geardine McCann, Legal
- Ciarán Murphy, ICRM
- Paul Patton, Legal
- Deborah Resch, Legal
- Jose Riera, CSIS
- Mark Steuer, ICRM
- Laura Toustau, ICRM
- Rosalie Yee, Legal
Human Resources (3 names)
- Shari Funk
- Shay Gonen
- Laura Zablah
Internal Audit (9 names)
- Neha Bhardwaj
- Callie Boyd
- Josh Goldsmith
- Gordon Hua
- Sophia Jingo
- Patrick Kielty
- Neil Kothare
- James Kouame
- Cindy Santoro
International (4 names)
- Fahad Aldeweesh
- Maria Paula Carvajal
- Jonathan Nix
- Kubilay Ozturk
- Legacy Franchises (6 names)
- Bill Burns
- Enrique Granillo
- Jesus Jauregui
- Gonzalo Palafox
- Erick Ramirez
- Jean Rocha Rodrigues
- Markets (69 names)
- Laurence Assip
- Robert Beatson
- Paul Berry
- Matthew Boyer
- Suninder Singh Chauhan
- Amish Chotai
- David Collis
- Ashish Kumar Daga
- Marc Damoiseaux
- Connor Dwyer
- Chuck Edmunds
- Richard Fairhall
- Carlos Ferrari
- Michael Fershtman
- Imelda Frayre
- Andre Grossi
- Roshni Gudka
- Aditya Gupta
- Natalia Gutierrez de la Peza
- Kentaro Hayashi
- Peter Nicholas Hext
- Sandy Hou
- Rocky Huang
- Rob Hughes
- Funmi Ibidunni
- Howard Ilderton
- Johan Kabla
- Neha Kapur
- Yana Keresteliev
- Subir Kumar
- Christopher Kuo
- Eirini Lerikou
- Ronan Liston
- Jorge Lonegro
- Steffen Lunde
- Roberto Massacci
- Maura McFadden
- Egor Miroshnikov
- Jim Monahan
- Chen Ni
- Fonzarelli Ong
- Warren Parker
- Vijay Parthasarathy
- Mihaela Penes
- Galvin Phua
- Jason Pillai
- Luke Pollock
- Jonathan Radke
- Rohit Rajgaria
- Richard Rosin
- Camila Rossetti
- David Rufino
- Colin Ryan
- Manish Saraf
- Angele Seriki
- Bollie Shiflett
- Marie Sho
- Esben Shoen
- Siris Singh
- Iqbal Sohal
- Kumar Subramanian
- Andrew Sufka
- Aruna Tatavarty
- Davy Tsang
- Miro Vucetic
- Rishi Watts
- Marcus Weickel
- Henry Wong
- Jeff Wu
Office of the CEO (1 name)
- Sigrid Nubla
Risk (16 names)
- Mikael Amar
- Gabby Banwait
- Om Barlinge
- Anindya Basu
- Bridget Griffin
- Nayantara Gupta
- Matthew Haigh
- Chuck Hou
- Ibo Longjam
- Shivi Punia
- Liza Ramsammy
- Navrup Rana
- Ravi Surana
- Logan Tamres
- Rodrigo Vargas
- Thomas Wood
Services (32 names)
- Saurabh Arora
- Kfeir Barkai
- Leandra Catton
- Amit Choudhary
- Chris Cook
- Yoanna Darwin
- Jane Dulson
- Carol Ferretti
- James Flugstad
- Elena Gomez
- Mandeep Heer
- Jonathan Jordan
- Ronan Kealy
- Lenny Leone
- Simon McConnell
- Ross McEwan
- Mary Messer
- Olivia Morgan
- Sergei Oganov
- Patrick O'Neill
- Nikhil Patankar
- Sonal Patel
- Leandro Quintal
- Rob Ranson
- Andy Ren
- Kirstin Renner
- Sean Ruby
- Yvonne Swainston
- Tomas Videla
- Heidi Willox
- Elias Xilas
- Melissa Ongleo Yambao
Technology (27 names)
- Catherine Ablott
- Mohamed Alsaloom
- Shante Avery
- Kashif Awan
- Nidhruv Bahree
- Mark Ballard
- Andre Batista
- Kathryn Beard
- Rachel Carpenter
- Noby George Cheruvathoor
- Gonzalo Cordova
- Nigel Deverteuil
- Ryan Evans
- Jeffrey Hazel
- Adam Hess
- John Shannon Hogue
- Hong Jiang
- Dave Jones
- Hitesh Kshatriya
- Greg Lurie
- Rajesh M K
- Deepak Nabera
- Steven Readett
- Jon Rosen
- Michael Todisco
- Nishanth Vontela
- Rajesh Wadhwa
U.S. Personal Banking (5 names)
- Jeff Chwast
- Timothy R Dougherty
- Tracy Goldman
- Sri K Lakamsani
- Supriya Ramamurthy
Wealth (42 names)
- Yogi Abhyankar
- Emile Abinader
- Rob Anderson
- Zeshan Azam
- Nicola Baker
- Christopher Barron
- Stewart Boag
- Olga Bogdanova
- Greg Byrne
- Winnie Choi
- Mendy Chung
- Juan Francisco Clemenza
- Sheethal Dalpathraj
- David C Darshan
- Beth Emswiler
- Matthew Ferrari-Wells
- Jenny Fung
- Carlos Garcia-Crespo
- Brad Goldberg
- Hollie Griego
- Danny Jones
- Eric Kraus
- Mark Chung Hei Lee
- Lena Siew Geok Lim
- Jason Liu
- Andrew Louw
- Alinne Majarian Fash
- Vlod Makar
- Alex Marks
- Kishore Indroo Motwani
- Luis Negrete
- Diego Parlaghy
- Claudia Penido
- Juan Guillermo Ramirez
- Gaston Rodriguez
- Jason Rosen
- Einat Sadka
- Masa Sekulic
- Kathy Stith
- Narayan Swamy
- Diego Szuldman
- Frederic 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)