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.