Citi Announces Senior Talent Appointments

Citi today announced to employees the following senior talent appointments. 

Memo from Chair and Chief Executive Officer Jane Fraser and Chief Financial Officer Gonzalo Luchetti:

Recognizing and rewarding colleagues for their hard work and dedication is a huge priority for us. This is how we build the next generation of Citi leaders. We believe in giving our people opportunities that stretch their abilities and push them toward exciting new possibilities — both to reward them for successfully executing in their roles and, more importantly, to build their breadth and depth for the future.

The following moves showcase the strength of our leadership bench and our commitment to ensuring our top talent has the chance to thrive and continue to contribute to Citi’s growth.

Message from Jane Fraser:

I am very proud to announce that Margo Pilic will become our Head of Strategy, M&A and Investor Relations. For the past five years as my Chief of Staff, Margo has been at the center of all our firm has accomplished. She has been a key thought partner for me on our strategy refresh, our reorganization and all the work we have done to transform our firm. In that role she has worked closely with Citi's leadership, our Board, clients, investors and regulators, bringing incisive judgment and execution drive.

I could not have had a better partner by my side over the last five years. The whole firm would be grateful if they knew all she has done to help me keep a clear head during this time. In her new role, she will continue to work closely with both me and Gonzalo, leveraging all she has done in the last few years, backed by the deep and experienced teams in both Strategy and M&A and Investor Relations.

She will bring a wealth of experience from her more than two decades at Citi. Having started her Citi career in the strategy team for the old ICG, she has worked in many businesses, serving as the Lead Finance Officer for the ICG in Latin America, the Global Co-Head of Corporate eSolutions for our iconic Foreign Exchange franchise, and in the Corporate Reengineering group formed during the Financial Crisis.

Rafael Soeda will succeed Margo as my Chief of Staff in early August, beginning the transition immediately. To say I am excited to welcome Rafa to my team is an understatement. As Citi turns to the next phase of our strategy and growth, broad business exposure and operational experience are important priorities for the Chief of Staff. Rafa has deep experience serving clients, executing complex transactions, leading teams and operating businesses. His capacity to grasp high-level strategy, rapidly process complex data, and ensure daily priorities align with long-term goals make him the ideal choice for this role.

Since joining Citi in 2010, Rafa has built an exceptional career across M&A, Investment Banking and Services. He has served as Global Co-Head of Corporate M&A, Senior Investment Banker in our North America Financial Institutions Group and, most recently, Chief Operating Officer for Services. He also played a key leadership role on one of the firm’s most significant strategic initiatives, the separation of Banamex. We will be posting the Chief Operating Officer for Services role shortly.

This transition marks a moment of both fresh perspectives and continued dedication to our shared success and I look forward to the exciting opportunities this change brings.

Message from Gonzalo Luchetti:

Further to Jane’s message on Margo’s appointment as Head of Strategy, M&A and Investor Relations, I want to add how much I look forward to her joining the Finance organization. Combining the Strategy and M&A role with the Investor Relations role reflects the increasingly close connection between how we define our strategy and how we deliver to investors, and I know she will do a tremendous job.

Margo will begin transitioning into the Strategy and M&A responsibilities over the next few weeks, and into the Investor Relations role in August.

Jenn Landis, who has led Investor & Rating Agency Relations for the last five years, will step into the role of CFO for our Markets business, effective early August.

Jenn joined Citi in 2021 as Head of Investor Relations during our multi-year Transformation and a period of significant skepticism. Over five years, and culminating with a successful Investor Day last month, she reestablished trust and credibility with investors and analysts through transparent communication of the firm’s financial and strategic messaging and rigorous engagement with our analyst and investor community. Jenn rebuilt the IR team and revamped earnings processes, disclosures and analytics, resulting in buy ratings increasing from 45% to 85% and the stock surpassing $100 for the first time since 2008.

She brings broad financial leadership experience from her time at J.P. Morgan Chase and will be an insightful partner to Andy Morton and the Markets leadership team.

Behind these appointments are two departures that deserve recognition.

Fran Genesi, currently serving as CFO for Global Functions, Operations and Technology and Interim CFO for Markets, has announced his decision to retire from Citi at the end of July. His distinguished career in Finance at Citi spans nearly three decades, during which he held CFO positions across multiple areas, including the legacy ICG, legacy Personal Banking and Wealth Management, the Asia region, Markets, Citi Transaction Services and Citi Holdings.

Throughout his tenure, Fran has been an outstanding leader, guiding the firm and the Finance team through significant periods of change and playing a key role in shaping the bank. His deep commitment, dedication and vast experience to Citi and its Finance team are greatly appreciated and will be missed. We are starting the search for the role of CFO for Global Functions, Operations and Technology.

Tim Karpoff, our Head of Strategy and M&A, has also let us know that he will be leaving Citi at the end of June. While Tim had planned to depart earlier in the year, it was important to him to help us deliver at Investor Day, and he now feels it is the right time to move on. He plans to formally join the voting rights non-profit he helped found and be more present for his family, who recently relocated to Vermont.

Tim joined us in 2021 and became an important voice in shaping Citi's direction. He was part of some of the most consequential decisions the firm has made in recent years and has helped define our priorities and build the narrative for how we present Citi's future. He will work with Margo over the next few weeks to ensure an orderly transition.

Please join me and Jane in congratulating Margo, Jenn and Rafa as they step into their new roles, and in thanking Fran and Tim for all they have given to this firm and wishing them well in what comes next.