Citi names 276 new MDs in its smallest class since 2020 - see the list

"Citi has a new group of senior leaders joining its highest ranks. On Wednesday, the bank announced 276 managing directors, elevating the class of leaders to its highest rank below the C-suite. This year's class includes 55 promotions in markets, 45 in banking, 40 in wealth, and 33 in services, the bank's unit that helps clients manage and move money globally."

"'Each of these new MDs played a meaningful role in that progress. They led teams through a fast-moving environment, kept focus on what mattered most, and helped turn strategy into action,' the memo continued, citing their contributions as helping to accelerate Citi's 'steps toward becoming an AI-enabled bank with smarter operations and a clearer foundation for growth.'"

"The class is about 20% smaller than Citi's last cohort of promotes - the 344 employees it elevated to MD in 2024, the largest class since Jane Fraser became CEO. That group leaned heavily toward markets, wealth, and tech roles. The drop-off makes this the smallest MD class since 2020, when the bank promoted 241 people, compared with 304 in 2023, 331 in 2022, and 306 in 2021."

Citi promoted 276 employees to managing director, the bank's highest rank below the C-suite. The cohort includes 55 promotions in markets, 45 in banking, 40 in wealth, and 33 in services. The promotions aim to capitalize on a strong performance in markets and to accelerate growth in banking, wealth, and services after major revamps. The class is about 20% smaller than the 344 promotions in 2024 and is the smallest MD class since 2020. Executive management credited the new MDs with leading teams through a fast-moving environment and helping accelerate steps toward an AI-enabled bank with smarter operations.

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