REUTERS/Andrew Kelly/File photoNEW YORK, Aug 3 (Reuters) - Paco Ybarra, the CEO of Citigroup's (C.N) institutional clients group, will leave in the first half of next year, according to an internal memo seen by Reuters.
He helped to establish it as a "powerhouse in fixed income," CEO Jane Fraser wrote in a memo to staff.
Ybarra joined Citi in Madrid in 1987 as a management associate and subsequently worked in Mexico, Singapore, London and New York.
He led some of its most important businesses, including markets and securities services.
"A picture of grace under fire, Paco helped Citi navigate some of our industry’s most challenging moments," Fraser wrote, including the Mexican peso crisis in 1994, the 2008 financial crisis and the pandemic.
Persons:
Andrew Kelly, Paco Ybarra, Jane Fraser, Ybarra, Paco, Fraser, Lananh Nguyen, Mark Porter, Nick Zieminski
Organizations:
Citibank, New York Stock Exchange, REUTERS, Reuters, Citi, Thomson
Locations:
Manhattan , New York City, U.S, Madrid, Mexico, Singapore, London, New York