Citigroup Inc. found itself staring at a notable void in its New York sales business, following the recent announcement that Managing Director and Head of North American sales John Gallo will be parting ways with the bank, according to a recent Reuters report.
Despite a flurry of moves towards the tail end of 2014, Citigroup has been much quieter on the personnel front as of late. Roughly a month ago, Citigroup’s Asian operations lost Nikhil Eapen, the bank’s head of technology, media and telecommunications in its investment banking division.
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Mr. Gallo has served as the managing director and head of Citigroup’s North American business for the past six years. He joined Citigroup from Lehman Brothers, where he served as the global head of liquid market sales, specializing in a variety of asset classes including commodities and FX. Despite the abrupt announcement of his departure, he will remain with the bank and facilitate a transition process over the next few weeks.
According to Mr. Gallo in a recent memo to the group’s North American sales staff regarding the departure, “It is time for me to pursue my next challenge and I believe that challenge is outside the firm.”