Jan 7 (Reuters) – Citigroup Inc has fired Richard
Cookson, chief investment officer of its private bank, as the
company looks to cut costs, Bloomberg reported on Monday.
Citigroup will no longer rely on one person to lead the
firm’s investment strategy and will instead seek to “better
leverage the existing in-house expertise across Citi,” including
its markets and banking research teams, Bloomberg said, citing
an internal memo. ()
Chief Executive Mike Corbat named two company veterans to
lead its institutional and consumer businesses on Monday and set
lines of command to give him more direct responsibility for
executives than his predecessor.
Cookson’s dismissal was part of the job cuts the bank
announced in December, Bloomberg said, citing a person familiar
with the matter.
