Sunday, 22nd November 2009

 

Citigroup names top leadership for private banking unit

Citigroup has appointed Jane Fraser as chief executive and Deepak Sharma chairman of Citi Private Bank, according to a report in The Wall Street Journal.

Fraser, who will assume here new role in early June, presently serves as global head of strategy and mergers and acquisitions and a member of the firm’s senior leadership committee.

Sharma, who also sits on the beleaguered bank’s senior leadership committee, most recently served as chief executive of Citi Global Wealth Management International, the WSJ report said.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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