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Citi taps tech chief Ryan to fix data management issues alongside Selva, memo shows
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Citi taps tech chief Ryan to fix data management issues alongside Selva, memo shows
Sep 16, 2024 12:02 PM

Sept 16 (Reuters) - Citigroup ( C/PN ) has tasked

technology head Tim Ryan to work alongside Chief Operating

Officer Anand Selva in fixing the bank's longstanding data

management issues, according to a memo seen by Reuters on

Monday.

Ryan, who joined Citi in June from PwC's U.S. franchise,

will jointly lead the data program along with Selva, who will

continue to steer the bank's overall transformation, the memo

said.

"We've been clear about our need to accelerate our progress

in this (data) area and, consequently, we've committed to

dedicating additional resources to it," the memo said.

Citi has also tasked its head of enterprise risk management,

Ashutosh Nawani, to join Ryan's team in the newly created role

of head of enterprise data office and data transformation.

The lender's Chief Data Officer Japan Mehta will also work

closely with Selva and Ryan as Nawani transitions into his new

role over the coming months, the memo said. Mehta will

subsequently take on a new role.

In July, Citi was hit with a $136-million fine for making

"insufficient progress" on fixing data management issues that

were identified in 2020 and urged the bank to show it was

putting enough resources towards those efforts.

Citi had agreed to a sweeping plan to fix its data faults in

2020, but a Fed exam last year found the bank was still had

deficiencies and had not made adequate progress.

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