Citigroup has named Venu Krishnamurthy to head the high net worth and affluent businesses, replacing Deborah Doyle McWhinney, who left last week, according to media reports.

Brad Dinsmore, head of the group’s US retail banking, will “consider other opportunities” within the company, according to a memo obtained by Bloomberg News and confirmed by the bank. A search for someone to head the branch network has started, again according to the memo.  

Krishnamurthy is currently the global lead finance officer at Citi’s private bank and a former chief operating officer for international operations at the private bank.