Citigroup announced today the appointment of Jose Cogolludo as the investment bank’s new Global Head of Commodities. Mr. Cogolludo has been a part of the Citigroup team since 2012. His most recent position prior to this promotion was Global Head of Sales for Commodity Derivatives.
Mr. Cogolludo takes over the position from Stuart Staley, who remains with the bank following his own promotion to Head of Asian Markets and Securities Services. Mr. Cogolludo provides a relatively smooth transition, due to his steady tenure with the bank, as well as his association with department, having worked directly with commodity derivatives in his last position.
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Mr. Cogolludo has a rich work history in the financial industry. He has established a long stretch of experience with some of the leading global financial institutions. Prior to joining Citigroup toward the end of 2012, he enjoyed a 5 year tenure as Managing Director at BNP Paribas. Mr. Cogolludo’s experience extends even further, as he was employed for three years in a similar position at JP Morgan, between 2004 and 2007.
A graduate of the prestigious University of Pennsylvania, Mr. Cogolludo immediately entered the financial field, following his graduation with an engineering degree in 1993. He began working at Goldman Sachs, where he remained for eleven years. According to his LinkedIn profile, he maintained a similar title, listed as a Managing Director until he parted ways with the US investment bank in 2004.
Citigroup continues to endure many changes to both its operational capacity and its personnel structure. Following the Brexit news, many banks were forced to choose alternative European headquarters to replace their London offices, which previously acted as the central hub for European banking services. In July of last year, Citigroup selected Frankfurt as its landing spot, where it plans to open and maintain between 150 and 250 roles. With respect to personnel changes, the US bank moved forward with several new hires over the course of 2017.