By Anousha Sakoui and Andres Gonzalez
LONDON (Reuters) – 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 number of senior roles, including leading the Citigroup Global Markets Europe AG unit.
“I have had an incredible 25+ years with Citi living and working in 10 different countries. Citi let me fulfil my dream of an international career. I wouldn’t change that for the world,” said Braden in an emailed statement sent by Citi.
The Wall Street firm this week announced a broad reorganisation 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, Mark Potter and Louise Heavens)