Citi's MD promotions come as Fraser continues a yearslong effort to modernize and simplify the bank, including by thinning out its management ranks.
The number of promotions in the services and banking units remained flat, the spokesperson said, adding that there was a slight decrease in US personal banking.
This year's MD class includes more leaders from its markets and technology groups, with markets seeing the largest number of promotions at 69.
Citi officials praised the new class for their 'relentless' efforts amid modernization, aligning with the bank’s goal of enhancing risk controls and technology.
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