Citibank Japan CEO Buckley to Resign After Regulatory Punishment

Citibank Japan Ltd. Chief Executive Officer Darren Buckley will resign on Jan. 10 after the lender was punished by Japanese regulators for insufficient controls at its retail business.

Peter Eliot, currently head of Citigroup in Thailand, will temporarily replace Buckley while the bank seeks a Japanese national to fill the role on a permanent basis, the unit of Citigroup Inc. (C) said in a statement today.

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editor responsible for this story: Russell Ward at rward16@bloomberg.net

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