Citigroup Appoints New Executives as part of its Restructuring Efforts

Citigroup has announced new appointments in the Asia Pacific region as part of a global reorganization of the U.S. company. According to a source with direct knowledge, the bank announced on Nov 19.

According to an unnamed source, Jan Metzger, Citi's Capital Markets and Advisory Head for Asia, will be leading the investment bank for the Asia North Australia and Asia South Cluster. The source declined to be named as the bank had not yet made the information public.

Kaleem Rizvi, former head of corporate banking in Asia, has been selected to lead the corporate banking division for Asia North and Australia. K Balasubramanian has also been appointed as the head of corporate banking for Asia South. According to the source, Gunjan Kalra will remain in charge of Citi's commercial banking operations for Asia North and Australia, as well as Asia South.

Citi announced Nov 19 that it plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. In the top two layers of leadership, Citi reduced 15 percent of functional roles and eliminated 60 committees, it said in a third-quarter earnings presentation.