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)