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Citi Names Brian Leach Chief Risk Officer
Press Release, February 27, 2008
New York – Citi today announced that Brian Leach will assume the role of Chief Risk Officer for Citi, reporting to Chief Executive Officer Vikram Pandit. Mr. Leach will also become Acting Chief Risk Officer for the Institutional Clients Group. In addition, the company named four new senior managers to the Risk organization – Suneel Bakhshi, Charles Monet, Greg Hawkins, and Adil Nathani – all reporting to Mr. Leach.
In his new role, Mr. Leach will lead Citi's efforts to manage and track all risks undertaken by the company. He will also lead efforts to set strategic risk parameters and will play a critical role in capital allocation to ensure that Citi takes advantage of growth opportunities that meet appropriate risk-return standards. To achieve these goals, he will work closely with Mr. Pandit and other members of Citi senior management.
"Taking intelligent risk is the core of our business. As our industry grapples with one of the most difficult periods in market history, we at Citi are moving aggressively to transform our risk management culture into a significant competitive advantage," Mr. Pandit said. "Brian is a widely respected industry risk veteran, and I am confident that he and our Risk team will lead an independent, best-in-class risk management function that exercises prudent judgment in managing the risks inherent in our business and plays an important role in Citi's capitalizing on emerging growth opportunities."
Jorge Bermudez, a 33-year veteran of Citi, has decided to retire. Over the last three months, Mr. Bermudez has worked closely with senior management on assessing and developing a plan for the risk function going forward.
"I would like to thank Jorge for his excellent stewardship during a difficult transition time for all of us," Mr. Pandit said. "Last October, Jorge informed senior management of his intention to retire, and given the
Citi Names Brian Leach Chief Risk Officer
Press Release, February 27, 2008
New York – Citi today announced that Brian Leach will assume the role of Chief Risk Officer for Citi, reporting to Chief Executive Officer Vikram Pandit. Mr. Leach will also become Acting Chief Risk Officer for the Institutional Clients Group. In addition, the company named four new senior managers to the Risk organization – Suneel Bakhshi, Charles Monet, Greg Hawkins, and Adil Nathani – all reporting to Mr. Leach.
In his new role, Mr. Leach will lead Citi's efforts to manage and track all risks undertaken by the company. He will also lead efforts to set strategic risk parameters and will play a critical role in capital allocation to ensure that Citi takes advantage of growth opportunities that meet appropriate risk-return standards. To achieve these goals, he will work closely with Mr. Pandit and other members of Citi senior management.
"Taking intelligent risk is the core of our business. As our industry grapples with one of the most difficult periods in market history, we at Citi are moving aggressively to transform our risk management culture into a significant competitive advantage," Mr. Pandit said. "Brian is a widely respected industry risk veteran, and I am confident that he and our Risk team will lead an independent, best-in-class risk management function that exercises prudent judgment in managing the risks inherent in our business and plays an important role in Citi's capitalizing on emerging growth opportunities."
Jorge Bermudez, a 33-year veteran of Citi, has decided to retire. Over the last three months, Mr. Bermudez has worked closely with senior management on assessing and developing a plan for the risk function going forward.
"I would like to thank Jorge for his excellent stewardship during a difficult transition time for all of us," Mr. Pandit said. "Last October, Jorge informed senior management of his intention to retire, and given the