Citigroup’s North America head of treasury and trade solutions, Andrew Gelb, has reportedly left the bank, to be replaced on an interim basis by Michael Fossaceca.
Gelb has worked in Citi’s transaction banking business for almost 15 years. He previously held the position of regional head of Citi’s securities and fund services (SFS) for Emea, completing a broad strategy to grow the franchise across the region.
Having been in the role since September 2011, Gelb reportedly leaves Citi for an “outside opportunity”. In a statement, a spokesperson for Citi says: “We will work closely over the next several weeks to ensure a smooth transition while we recruit for a permanent replacement.”
Fossaceca has worked for Citi for over five years, previously holding the role of managing director, North America region head of client sales management. He has worked in financial services for nearly two decades, including positions at Bank of America and JP Morgan.