By Tatiana Bautzer and Elisa Martinuzzi
NEW YORK/LONDON (Reuters) – Citigroup’s head of risk data, analytics, reporting and tech Peter Cai has left the bank, a spokesman confirmed.
The departure has been announced internally on Tuesday but the bank has yet to appoint an executive to replace him.
Cai was recently more focused on risk data analytics and reporting, and responsibility for data remediation was shifted in early 2023 from his division to a specific new team, according to one source with knowledge of the matter.
Cai did not reply to messages to his Linkedin profile asking for comment. The bank, that declined to comment beyond confirming the departure of Cai, a former Barclays executive and Carnegie Mellon professor, who was at Citigroup since 2019.
Last week, regulators increased the level of concern with Citigroup’s resolution plan, classifying its so-called “living will” as deficient. In a letter to Citi, regulators said weaknesses in its data and controls contributed to inaccurate calculations of the liquidity and capital needed to unwind derivatives positions. They also asked for “independent confirmation” by next year that the issues are addressed.
(Reporting by Tatiana Bautzer and Elisa Martinuzzi, Editing by Louise Heavens and David Gregorio)
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