NEW YORK (Reuters) -Citigroup promoted Erik Savola to become its head of corporate banking for Europe, effective immediately, according to a memo seen by Reuters on Friday.

The two-decade veteran of Citi most recently served as Nordic banking head. Savola will remain in Stockholm, Sweden and join the corporate banking executive committee, reporting to directly Jason Rekate, John Chirico, and Nacho Gutiérrez-Orrantia.