Citigroup president Jamie Forese will retire after more than three decades at the investment bank, according to an internal memo seen by CNBC on Thursday and confirmed by a Citi official.
div > div.group > p:first-child"> Forese is one of the longest serving executives at Citi, whose role also included serving as the lead for the bank's Institutional Clients Group .
That group brought in about half of Citi's revenue last year. There he will be succeeded by Paco Ybarra, who served as Forese's deputy at ICG.Citigroup is the third largest U.S. lender by assets.
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