Two months after Citigroup said that Mary McNiff would
Tom Anderson, who is currently the compliance officer in charge of Citi’s personal banking and wealth management businesses, will take over as corporatewide chief compliance officer on June 1, a Citi spokesperson confirmed Thursday. The news was
Anderson, who started his career at Citi as a management trainee in commercial lending, is a former CEO of American Express Global Banking. He spent seven years at JPMorgan Chase in different compliance risk management jobs before returning to Citi last year.
The switch in chief compliance officers comes as the $2.4 trillion-asset bank seeks to improve longstanding risk management and internal control system problems.
For the past 18 months, the New York company has been trying to address and correct a series of risk management-related “
Some analysts have said that Citi appears to be making
Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.
The Citi spokesperson did not have information to share Thursday about either McNiff’s future role at the company or when her new job will commence. McNiff, who has
McNiff, who is one of 18 current members of Citi’s executive management team, is the company’s former chief auditor and a onetime Citibank CEO.
In March, Citigroup CEO Jane Fraser told employees that the next chief compliance officer would not be part of the company’s executive management group. That same month, a company spokesperson said that Citi’s general counsel, Brent McIntosh, must oversee compliance under the terms of a Fed consent order.
Anderson will report to McIntosh, a Citi spokesperson said Thursday.