Mr Wolfensohn has unparalleled emerging markets experience and contacts, an area where Citigroup has clear ambitions.
| In an all-star recruitment spree, Citigroup has also appointed Shengman Zhang, the World Bank managing director, as chairman of its public sector group. |
EXIT...
| The second resignation from HVB’s board of directors is Christine Licci, head of private banking. Ms Licci had previously been mooted as a potential successor to current CEO Dieter Kampl once the merger with UniCredit was completed. In an internal memorandum, Mr Kampl noted that he “accepted” the resignations of Ms Licci and Mr Jentzsch but did not fully understand them at this time. |
| Previously responsible for corporates and markets at HVB, Dr Stefan Jentzsch has left the bank, reportedly following discord over the proposed direction for capital market strategy post-merger with UniCredit. |
