Citi wealth division’s CIO Bailin to depart

By Thomson Reuters Apr 15, 2024 | 2:01 PM

(Reuters) – Citigroup’s David Bailin, chief investment officer (CIO) at the global wealth division, will leave next month after 15 years at the bank, he said in a LinkedIn post on Monday.

Bailin, who became the global head of investments in 2017 and took charge as the wealth division’s CIO in 2019, said May 15 would be his last day at the company.

Citi did not immediately respond to a Reuters request for comment.

Citi announced in September that it will strip out a layer of management and cut jobs in a sweeping reorganization that will give CEO Jane Fraser more direct control. Fraser is seeking to boost revenue in investment banking and wealth management.

Before joining Citi, Bailin was the head of alternative investment asset management for Bank of America’s global wealth and investment management.

(Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh Kuber)