S&P 500 falls on pressure from retail stocks, weak jobless claims
Investing.com -- Citigroup Inc (NYSE:C). has named Michael Lavelle as its vice chairman of global financing, according to Bloomberg News. The decision comes as part of the bank’s strategy to leverage its balance sheet to secure more profitable business.
Lavelle, based in London, is a veteran banker who has been with Citigroup for nearly three decades. In his new role, he will continue to manage many of the bank’s clients in the UK and Ireland. Additionally, he will advise top Citigroup clients around the world on capital markets and financing. This information was shared in an internal memo viewed by Bloomberg, the contents of which were confirmed by a representative from Citigroup.
Lavelle will be reporting to Achintya Mangla, who was brought on board from JPMorgan Chase & Co. (NYSE:JPM) last year to head financing for investment banking at Citigroup.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.