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Citigroup Inc. (NYSE: C)
April 17, 2008
Richard Evans to Join Citi as Chief Risk Officer for Citi Institutional Clients Group
New York – Citi today announced it has appointed Richard Evans as Chief Risk Officer for Citi Institutional Clients Group. Mr. Evans will be responsible for managing and tracking the firm's risks across corporate and investment banking, sales and trading, transaction services and alternative investments. He will report to Citi Chief Risk Officer Brian Leach, and will join the Institutional Clients Group Management Committee chaired by John Havens, CEO of Citi Institutional Clients Group.
Mr. Evans will be responsible for setting strategic risk parameters and managing capital allocation for Citi Institutional Clients Group, as well as ensuring that the firm takes advantage of growth opportunities that meet appropriate risk-return standards.
"Strong risk management and its use as a competitive advantage are a key priority for Citi. We've made good progress toward our goal of building a comprehensive, best-in-class risk management function that plays a critical role in strategy and capital allocation," said Mr. Leach.
"Richard is one of the best risk managers in the business. He will play a key role in further embedding intelligent risk-taking into every decision we make for our clients and the firm," said James Forese, Head of Markets for Citi Institutional Clients Group and Chair of Citi's Markets & Banking Risk Committee.
About Richard Evans
Mr. Evans joins Citi from Deutsche Bank AG, where he served most recently as Deputy Chief Risk Officer. That role included running Treasury and Capital Management, Market Risk Management, and Investment Risk Management, including significant involvement in the bank's strategic risk decisions. He was named the "Risk Manager of the Year" in 2004 by Risk Magazine.
Before joining Deutsche in 2000, Mr. Evans served in a variety of senior roles at JP Morgan over nearly 20 years, his last role being Vice Chairman of JP Morgan's Risk Management Committee and Global Head of Risk Management.
Mr. Evans, 47, has an MA in Economics from Gonville and Caius College, Cambridge University. He was a Board Member of Euroclear SA and Euroclear Plc and Chairman of that Board's Risk Committee. He is also a past Chairman and member of the International Financial Risk Institute (IFRI)'s Executive Committee, a not-for-profit association of Chief Risk Officers from the world's major financial institutions.
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Citi Institutional Clients Group
Citi Institutional Clients Group is a worldwide leader in corporate and investment banking, sales and trading, transaction services and alternative investments.
Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.