Citi has a new group of senior leaders joining its highest ranks.
On Wednesday, the bank announced 276 managing directors, elevating the class of leaders to its highest rank below the C-suite.
This year’s class includes 55 promotions in markets, 45 in banking, 40 in wealth, and 33 in services, the bank’s unit that helps clients manage and move money globally. The promotions reflect the firm’s strong year in the markets and its push to drive more growth from banking, wealth, and its unique services business — all three of which have undergone major revamps in recent years.
The class is about 20% smaller than Citi’s last cohort of promotes — the 344 employees it elevated to MD in 2024, the largest class since Jane Fraser became CEO. That group leaned heavily toward markets, wealth, and tech roles. But the drop-off makes this the smallest MD class since 2020, when the bank promoted 241 people. In 2023, it announced 304 new MDs; in 2022, 331; and in 2021, 306.
“Their promotions arrive after a year that asked a lot from all of us as we raised our performance and pushed ahead on the work that will define Citi’s next chapter,” the executive management team members — including CEO Jane Fraser — wrote in an internal memo viewed by Business Insider.
“Each of these new MDs played a meaningful role in that progress. They led teams through a fast-moving environment, keep focus on what matters most and help turn strategy into action,” the memo continued, citing their contributions as helping to accelerate Citi’s “steps toward becoming an AI-enabled bank with smarter operations and a clearer foundation for growth.”
A Citi spokesperson told Business Insider that the number of promotions varies each year, “taking into account the firm’s skill and leadership needs, attrition, external hiring, and other relevant considerations.”
On Wednesday morning, Citi marked the annoucements with “roll call” gatherings across its business units — some in person, others remote — a tradition the bank has expanded in recent years. Members of the executive management team led a call with the newly promoted group to share advice, then held their own roll calls within their divisions to read the names aloud.
The promotions come as Citi continues a multiyear effort to simplify its structure, strengthen risk and control functions, and invest in a large-scale tech turnaround.
The bank’s strategy
The overhaul has reshaped its leadership and reorganized significant parts of the bank. In recent years, Fraser brought on star executives like former JPMorgan dealmaker Viswas Raghavan, as executive vice chair, to turn the firm’s investment banking operations around.
The firm has made significant gains in the past 12 months in sectors like investment banking — which saw a 23% year-over-year bump in fees to $1.15 billion in the third quarter — and its markets unit, which handles trading, experienced a 15% bump.
The new 2025 managing directors come from 21 countries and represent 32 nationalities, the bank said. Two-thirds are multi-lingual, and 30% have worked in at least two countries for Citi. They have a median of 16 years of experience at the firm, and 20 years in financial services overall. Twenty-three percent joined Citi through an early-career program, the bank added.
Nearly half — 134, or almost 49% of the class — are based in North America; 18% in the UK; followed by nearly 10% in Japan, north Asia, and Australia. The rest are dispersed in other regions.
Below is the full list of Citi’s newly promoted managing directors.
Banking (45)
Ram Anand
Siddharth Bansal
Irina Berg
Aaron Bloch
Thomas Brancourt
Sarah Briddon
Matteo Casadei
Ricardo Celayeta
Varun Chokhani
Alexios Coscoros
Nick J Dragisic
Samuel H Eisner
Sascha Hahn
Thomas Holsten Leren
Jun Hong
Keng Huat Koay
Terry Koizou
Brian Krieger
Piotr Krupa
Jonathan Laycock
Minha Lee
Ryan Li
Menzi Lukhele
Christopher Marino
David Moreno
Koyu Mori
Victor Mourad
Janusz Nelson
Milan Ninkov
Daniel O’Czerny
Vineet Puri
Ifti Qurashi
Shirley Riches
Raimund Riedl
Alfonso Saturno
Michael Seidenfeld
Dhruv Sethi
Pei Pei Sim
Sam Sun
Steven Thompson
Nisheeth Ranjan Tripathi
Mimi Tse
Vineet Vetts
Stephen White
Saad Zaman
Chief Operating Office (7)
Babar Ahmed
Traci Brooks
Sheetal Chanderkar
David Noyce
Scott L Phillips
Brett Russo
Sana Sayed
Client (18)
Eugene Belostotsky
Vanessa Bernardino
Yogesh Bhatt
Tom Cerasoli
Nedra Nichelle Collins
Alexander Guffanti
Jeffrey Kurges
Eric O Ligan
Beata Manthey
Andre Mazini
Jyothi Narayanan
Caio Patricio
Monique Pollard
Vibhor Rastogi
Arthur Smith
Hana Uddin
David M Wollin
Kyna Wong
Enterprise Services and Public Affairs (1)
Rula Dajani
Finance (12)
Tristan Clark
Eric Haugk
Jai Maxwell
Diego Miyake dos Santos
Ney Peralta
Robert Sabochick
Watcharee Thitibordin
Ben Vance
Sharan Wadhwa
Hua Wang
Jon Warren
Matt Welsh
Global Legal Affairs & Compliance (17)
Maitane Arozena
Jonathan Barkey
Sandra Behar
Soumyajyoti Bose
Jessica Britton
Mark DeAngelis
Robert Ehrlich
Rick Gambs
Omar Garduño Chavero
Lindsay Gatto
Justin Marc Irwin
Bruno Kumi
Fiona Mahon
Valerie Nezianya
Abhimanyu Singh Poonia
Rahul Dev Sharma
Ann-Katrin Wilczek
Human Resources (3)
Victoria Hooker
Jacqueline Lucas
Marc Polinsky
Internal Audit (2)
Cedrick Parize
Amine Trifi
International (2)
Jay Jhala
Malcolm Munoz
Legacy Franchises (7)
Eduardo Allegre Marquez
Robert Baltazares
Alejandro Díaz Romo
Larissa Garduño
Sreekanth Malisetti
Xavier Villalobos
Carlos Zamudio
Markets (55)
Omar Ahmed
Eric Bakkensen
Miles Patrick Bartholomew
Thomas Baud
Kanika Berry
Thomas Beviss
Stefania Calabretta
Alex Chiew
Sangini Chopra
Dominique de Peyrecave
Lindsay DeChiaro
Gaurav Dhingra
Matthew Doyle
Ryan Ellis
Michael Fielder
Troy Fraser
Brian Fugazy
Tom Gallagher
Ben Gardiner
Sean Garvey
Ting Guo
Tom Heslop
Kyle Higgs
Vito Hinora
Stuart Kaiser
Ryutaro Katano
Christina Keeler
Kemal Keskin
Ray King
Giovanni Laureri
Dessislava Lazarova
Hyungjoo Albert Lee
Sunny Li
Noah Mao
Liam McShane
Deepak Mehra
Loubna Moutai
Hooi Wan Ng
Truong Nguyen
Andrea Olivari
Sebastian Palacio
Jennifer Podurgiel
Yash (Shreyash) Priyank
Diana Ribeiro
Bryant Schlichting
Nagaraja Shenoy
Byungnoh Sohn
Zhengyuan Sun
Thomas Szelestey
Michael Tamburrino
Henrique Utrini
Mandakini Vadher
Sean Walsh
Tadeusz Wysocki
Timothy Young En
Risk Management (11)
Ritesh Bansal
Shivani Datadin
Matt Fleet
Christian James
Lauren Karfonta
Elizabeth McAlpine
Shilpa Saroha
Charles Tao
Shantanu Upadhyay
Natalia Villazan
Yoyo (Xiaotong) Yan
Services (33)
Leena Aich
Lorna Ballard
David Bartlett
Ignacio Capparelli
Valentina Chuang
Patricia Corregiari
Rubin Kiran Dave
Arpit Desai
Virginie Dhouibi
Katie Dilaj
Katherine Earl
Meng Wei Feng
Brian Gauvain
Ganas Govender
Ilyas Khan
Nimit Khare
Xin Lin
Aneesh Kumar Mahajan
Jared Mecham
John Murphy
Mick Murray
Tony Nanez
Caitlyn Oster
Christopher Piparo
Andrew Quan
Christopher Ravn
Christoph Rosemeyer
Ernesto Sarria
Shalin Shroff
Rufus Southwood
Rodrigo Takaku
Will Thorne
Tanya McKnight Williams
Technology & Business Enablement (15)
Zak Bahri
Katie Fontana
Rama Gontla
Shantharam Iyer
Prashant Jain
Daniel Jepp
Alina Kamat
Konstantine Kos
Rajiv Mirjankar
Viral Patel
Kevin Peel
Namita Saran
Bhagavathi Satchithanantham
Nikhil Shah
Elvis Veliz
U.S. Personal Banking (8)
Matthew DiPisa
Rohan D’Souza
Promiti Dutta
Patrick Gallagher
Paul Gawlik
Jess Lucas
Neri Neri
Dani Paul
Wealth (40)
Manuel Alvarez
Patricia Avallone
Zakir Banatwala
Duygu Baydur
Julie Bennett
Gunjan Bhatt
Boyko Botev
Analicia Gil Brocchetto
Asaad Chaudry
Benjamin Dx Choo
Angie Clardy
Vishal Desai
Jose Huerta
Ahmad Jamaleddine
Richard Jiang
Stephan Lanz
Jeanne Lee
Andrew Li
Sherlock Lou
Billal Malik
Megan Malone
Vikram Manik
Peter Manno
Morgan Morris
Sarah Wee Hian O
Stephen Pak
Avanee Vasant Patel
Darlene Yuting Patterson
Deborah Querub
Sebastian Rubano
Thomas Schlaus
Ash Shandilya
Vibhor Singh
Michael Squillante
Priya Sriskantharajah
Luca Vodini
Ivo Voynov
Richard Weintraub
John Whitelaw
RuiRui Zhu
