People Moves

Changes At Top Of Citigroup; Swiss Chief Heads Westward

Tom Burroughes Group Editor 6 September 2018

Changes At Top Of Citigroup; Swiss Chief Heads Westward

The US-based bank announced a number of changes, including the move of its Swiss country head to take on the chief of staff role.

The country officer for Switzerland at Citigroup, Kristine Braden, is heading westward to work as chief of staff alongside the lender’s chief executive, Mike Corbat, this publication can confirm.

Braden, who had held her Swiss role from April 2015, was also leader of the US banking giant’s corporate and investment banking groups in the Alpine state. In all, she has worked in a variety of Citigroup roles for more than 20 years. From 2009 to 2012, for example, she headed the bank’s Philippines business. Her time in Switzerland has seen her take on a number of roles in the country’s banking industry community, such as board president at the AFBS Association of Foreign Banks in Switzerland, and president of Advance – Women in Swiss Business, according to her public profile.

The move means that Braden will take over from Sara Wechter, who in April this year became Citigroup’s head of human resources. This publication has asked Citigroup about Braden’s replacement for the Swiss job, and will update in due course.

The announcement of the changes, made in an internal memo seen by this publication, also stated that three top-rank figures have decided to step down.

First, Jim Cowles, a 39-year veteran of the firm, is leaving to set up a not-for-profit organization. He will be leaving the firm at the end of the year, once the selection process for his successor is identified.

John Gerspach has decided to retire from Citigroup on 1 March 2019. He originally joined the finance team in 1990 and has worked in a number of regions, rising to the posts of controller and then chief financial officer. Gerspach will be succeeded by Mark Mason, a 17-year veteran of the bank. Mason started in a strategy role and served as the CEO of Citi Holdings and then the private bank. Since 2014 Mason has been the CFO of the institutional clients group and is responsible for its CCAR submission.

Bill Mills will retire from Citigroup at the end of the year – he has worked at the bank for 36 years, having initially come on board via Smith Barney, a business integrated into Citigroup, in 1982. His various roles included chief executive for EMEA during the 2008 financial crisis, and North America CEO when he returned to the US.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes