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Citigroup sales co-head Cacorino leaving-memo

NEW YORK (Reuters) - Antonio Cacorino, Citigroup's C.N co-head of global investor sales, is leaving the bank to pursue new opportunities, according to an internal memo obtained by Reuters.

Cacorino has been at Citi for 20 years. He is the latest multidecade veteran to leave the bank under Vikram Pandit, who became Citi’s chief executive late last year, and is looking to bring the bank back to profitability.

Pandit and John Havens, head of Citi’s institutional clients business, have been reducing the size of areas like sales and trading to reflect deteriorating market conditions.

Citigroup has in recent months announced the departure of a series of senior executives. Steve Bowman, head of hedge fund services, has left, as has the bank’s head of global mergers and acquisitions, Frank Yeary. Both had worked at Citigroup and predecessor companies for years.

Reporting by Dan Wilchins; Editing by Daniel Trotta, Gary Hill

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