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Citi's Private Bank Chairman Steps Down After Almost Four Decades At Parent Firm

Tom Burroughes

10 January 2014

since 2009, has decided to retire from the US-listed banking firm at the end of April this year, capping 38 years at the same firm, this publication has learned.

Sharma, whose almost-four decades of work for the same firm sets him apart from many peers in the revolving-door culture of some financial institutions, started his career in 1976 as a Citi management associate in India.

He has held management positions within operations and technology, treasury, strategic planning, electronic banking and private bank and investment management.

His leadership positions include serving as CEO of Citi’s Global Wealth Management-International business, head of Citi Smith Barney, and as chairman of the private bank. Prior to his current position in Singapore, he worked in Korea, Saudi Arabia, the United States and Switzerland.

Overall recent results at the US banking group, as reported last year, showed that the firm was in broadly robust health, albeit with some variability. Third quarter results showed that private bank revenues – which rose 1 per cent year-on-year - fell from $645 million to $614 million.