Citigroup Inc., the third-largest U.S. bank by assets, named Venu Krishnamurthy to head the high-net-worth and affluent segments, replacing Deborah Doyle McWhinney, who vacated the position last week.
Brad Dinsmore, Citigroup’s U.S. retail-banking head, will “consider other opportunities” within the firm, according to a memo obtained by Bloomberg News, the contents of which were confirmed by Sean Kevelighan, a spokesman for the bank. The search for the head of the branch network is under way, according to the memo.
Citigroup Chief Executive Officer Vikram Pandit appointed Cecelia “Cece” Stewart from Morgan Stanley to run U.S. retail and commercial banking in September as part of an overhaul of consumer-banking operations. Stewart started her new job last month.
Krishnamurthy is currently the global lead finance officer at New York-based Citigroup’s private bank, and a former chief operating officer for international operations at the private bank, according to the memo.