Citigroup Inc. (C:US), the third-largest U.S. bank by assets, named Moscow-based Zdenek Turek as head of its Western Europe unit to replace James Cowles.
Czech-born Turek is currently in charge of Central and East Europe, Denis Denisov, a spokesman said in an interview in St. Petersburg.
“Zdenek will continue to split his time between London and Moscow until we find a replacement,” Denisov said.
Citigroup Chief Executive Officer Michael Corbat overhauled the firm’s operations outside the U.S. in January, naming Cowles his successor as head of Europe, the Middle East and Africa. In February, the firm hired former Credit Suisse Group AG banker Luigi de Vecchi for the new position of chairman of continental Europe for corporate and investment banking.
From 2005 to 2008, Turek was country officer for the bank in South Africa and Hungary. He joined the lender in 1991 in Prague, where he held corporate banking positions before moving to Citigroup in Romania in 1998 as country head.
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