Citi Appoints Carson to Manage Russia as Separate Entity
- Bank is cutting consumer, commercial bank business in Russia
- Russia CEO Maria Ivanova will continue to report to Carson
A Citi logo sits on display outside a Citibank bank branch in Moscow, Russia.
Source: Bloomberg
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Citigroup Inc. appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the U.S. bank reduces its business in the country following President Vladimir Putin’s invasion of Ukraine.
Russia will continue to be part of Citigroup’s EMEA emerging markets cluster under its regional Chief Executive Officer Ebru Pakcan, according to an internal memo seen by Bloomberg, the contents of which were confirmed by a spokeswoman for the bank.