Citigroup Chief Risk Officer Steps Down
(03 November 2020 – United States) Citigroup’s long-standing chief risk officer Brad Hu, will be stepping down from his position at the end of the year.
His departure has come a month after the bank was fined US$400 million for significant deficiencies in their risk management systems. According to Citigroup, the decision to leave the bank was solely his choice. Mr Hu’s efforts to reduce the bank’s risk profile, particularly throughout geopolitical and economic distribution, were openly praised by senior colleagues.
“We respect Brad Hu’s decision to align his own timing with the internal transitions under way at Citigroup” commented Citigroup CEO, Michael Corbat.
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