As co-presidents, Jamie Forese and Manuel Medina-Mora will have immediate technology oversight as part of CEO Michael Corbat's new management structure.
In an internal memo to Citi staff, Corbat says that operations and technology (O&T) for several crucial units will report directly to the new co-presidents, both Citi veterans, to more closely tailor support functions to specific business objectives. Forese currently oversees the bank's institutional arm; Medina-Mora, meanwhile, is in charge of consumer banking as well the bank's presence in Mexico.
Both will closely consult with Citi's head of enterprise O&T, Don Callahan, who remains responsible for shared infrastructure and compliance-related matters.
"This change will better align the priorities and strengthen accountability between our client-facing businesses and their support function as we continue our efforts to become a fully digital bank and improve efficiency through the organization," Corbat says.
More from Sell Side Technology
Updating your subscription status
Winner's Announced: Sell-Side Technology Awards 2014
The winners of the 2nd annual Sell-Side Technology Awards 2014 were announced in New York on April 15. These awards recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 24 categories click here.
16 Sep 2014
07 Oct 2014
14 Oct 2014
14 Oct 2014
20 Oct 2014
03 Nov 2014
The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...
A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....