Daily News: May 30, 2014

Citi Names Banziger Head of Citi Commercial Bank

Citi named Richard Banziger head of Citi Commercial Bank. A 30-year veteran of Citi’s Institutional Clients Group, Banziger will lead the bank’s expanding middle-market banking business across the country. He replaces Will Howle, who was named head of Citi’s U.S. Retail Bank. Banziger, who will begin his new role at the end of June, will report to Jane Fraser, CEO of Citi U.S. Consumer and Commercial Banking and CitiMortgage, and Sunil Garg, head of Citi Commercial Bank globally.

Banziger has held various senior positions in Citi’s Leveraged Finance, Capital Markets, Asset-Based Finance and Risk Management groups, with assignments in Chicago, Hong Kong, London, Los Angeles and New York. Since 2010, he has led the global corporate credit risk team for Citi’s Institutional Clients Group and has been a senior member of Citi’s Risk Management organization. Prior, he led Citi’s Asset-Based Finance business, which, under his leadership, grew revenue and assets and improved operating efficiency.

“Citi Commercial Bank delivers a powerful proposition to tens of thousands of mid-sized companies in more than 100 cities worldwide,” said Fraser. “Its expertise, industry-leading products, platforms and services, and global reach have driven lending growth for nine consecutive quarters in the U.S. With three decades of experience at Citi, Richard is well-suited to help us build on that momentum and deliver remarkable results for our clients.”

As head of Citi Commercial Bank in the U.S., Banziger will oversee a unit that provides global banking solutions to mid-sized companies across a range of sectors. Recently, Citi Commercial Bank formed a number of specialty segment teams, including Technology, Healthcare and Asset-Based Lending groups, all of which have generated portfolio growth and contributed to an increase in both lending and deposits.