Yes, Citi is still hiring MDs for its risk and controls functions
When Citi CEO Jane Fraser discussed the bank's fourth quarter results earlier this month, she said the bank would be slowing its recruitment of front office bankers but still hiring across technology and on upgrading its data, risk and control infrastructure as part of its transformation program.
Less than a month into the New Year, it's true to its word. By our reckoning, Citi has hired at least four managing directors in operations and controls this month, across Americas, APAC and EMEA.
In APAC, Rob Koch joined Citi in Singapore as head of Asia enterprise O&T (Operations & Technology) business risk and control. He previously spent four years at Standard Chartered, where he was most recently an MD in technology risk and control.
In London, Ross Dungan joins as global head of futures, OTC clearing, and FX prime operations. He previously spent eight-and-a-half-years at Deutsche Bank, most recently as the bank’s global head of listed derivative operations.
Another two new MDs joined Citi in New York – Vanessa Marling and Stephanie von Friedeburg. Marling came from Credit Suisse, where she was regional head of group operations, America. She will be Citi’s COO of Citi Shared Services, an internal system in New York.
Von Friedeburg, meanwhile, joins Citi’s banking and capital markets advisory group after over a decade with the World Bank. She was most recently COO and interim CEO of the International Finance Corporation, a member of the World Bank Group.
Citi is strengthening its internal controls after it was fined $400m by the SEC for "longstanding deficiencies" in its risk and control systems in 2020. It has invested at least $1bn into that goal - an investment that is still ongoing, as is hiring.
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