Departure of Citi’s Heads of Legacy Franchises, Operations, and Technology

Citi has recently announced the departure of two executives, Titi Cole and Mike Whitaker. Cole, who led legacy franchises and oversaw the selling of consumer banking businesses in nine non-core markets, has left to take on a role at a nonprofit organization. Whitaker, head of the bank’s operations and technology team, is also leaving the bank. The Financial Times reports that Cole’s departure comes on the heels of the completion of Citi’s reorganization plan.

Citi CEO Jane Fraser expressed determination for the bank to reach its full potential and fulfill commitments to stakeholders by making bold decisions. Fraser noted during an April earnings call that the organizational revamp is nearly finished. Efforts will be intensified, such as automating regulatory processes and data for reporting purposes, to enhance operational efficiency. Meanwhile, Tim Ryan, formerly a senior partner at PwC’s U.S. franchise, will be joining Citi as the head of technology and business enablement. According to reports, Citi did not immediately respond to inquiries about these changes.

By Sophia Gonzalez

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