© Reuters. FILE PHOTO: The Citigroup Inc (Citi) in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren

By Selena Li

HONG KONG (Reuters) – Citi has appointed Valentin Valderrabano as its new chief operating officer (COO) for Citi Global Wealth, effective in July, according to an internal memo reviewed by Reuters.

Valderrabano, who reports to the bank’s global wealth head Jim O’Donnell, was most recently consumer business manager for Citibank Korea with nearly 20 years of experience at the bank.

He will replace Citi’s current COO Eduardo Martinez Campos, who will move to lead Citi Wealth Services and Strategic Investments.

The U.S. bank’s wealth business brought in $7.5 billion in revenue globally in 2021, running over $800 billion in client assets with more than 3,000 client advisers.

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