NEW YORK/LONDON, June 26 (Reuters) -
Citigroup's ( C/PN ) head of risk data, analytics, reporting and tech
Peter Cai has left the bank, a spokesman confirmed.
The departure has been announced internally on Tuesday but
the bank has yet to appoint an executive to replace him.
Cai was recently more focused on risk data analytics and
reporting, and responsibility for data remediation was shifted
in early 2023 from his division to a specific new team,
according to one source with knowledge of the matter.
Cai did not reply to messages to his Linkedin profile
asking for comment. The bank, that declined to comment beyond
confirming the departure of Cai, a former Barclays executive and
Carnegie Mellon professor, who was at Citigroup ( C/PN ) since 2019.
Last week, regulators increased the level of concern
with Citigroup's ( C/PN ) resolution plan, classifying its so-called
"living will" as deficient.
In a letter to Citi, regulators said weaknesses in its data
and controls contributed to inaccurate calculations of the
liquidity and capital needed to unwind derivatives positions.
They also asked for "independent confirmation" by next year that
the issues are addressed.