MOVES-Citigroup's Europe unit CEO Braden to leave after 25 years -source

Reuters · 09/15/2023 10:06
MOVES-Citigroup's Europe unit CEO Braden to leave after 25 years -source

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By Anousha Sakoui and Andres Gonzalez

- Kristine Braden, CEO of Citigroup's main operations in continental Europe, is leaving the firm after 25 years as part of a wider organisational change announced by the U.S. bank earlier this week, according to an internal memo seen by Reuters.

Braden was CEO of Citibank Europe and previously held a of senior roles, including leading THE Citigroup Global Markets Europe AG unit.

Braden couldn't immediately be reached for comment. A spokesperson for Citi declined to comment.

The Wall Street firm this week announced a broad reorganization including stripping out a layer of management and cutting jobs to give CEO Jane Fraser more direct control as she seeks to simplify the structure and give a boost to the stock.

Following the announcement of the reorganization, Citi managers are already convening discussions with employees about potential layoffs, which will most likely affect support staff in compliance and risk management, a source familiar with the situation told Reuters on Thursday.

(Reporting by Anousha Sakoui and Andres Gonzalez
Editing by Elisa Martinuzzi, Dhara Ranasinghe and Mark Potter)

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