NEW YORK, July 29 The chief financial officer
for Citigroup Inc's Institutional Clients Group, Jerry
Bailey, is retiring and will be replaced by Mark Mason, who is
currently chief executive of the company's private bank,
according to a memo sent to employees on Tuesday.
Bailey had been in his job since 2011, but in 1993 to 1997
was CFO of the Salomon Brothers investment bank that became part
of Citigroup, according to the memo, which was sent by Jamie
Forese, CEO of the Institutional Clients Group, and John
Gerspach, CFO of Citigroup, and obtained by Reuters.
Mason will take over Bailey's job on Sept. 2 and the company
is making a slate of candidates to succeed him as chief
executive of the private bank, the memo said.
The Institutional Clients Group includes Citigroup's capital
markets businesses, as well as its investment, corporate and
private banking units.
(Reporting by David Henry in New York; Editing by Chris Reese)