Heather Cox Parts Ways with Citigroup’s Fintech Unit

Heather Cox, the head of Citigroup Inc's financial-technology unit, is reported to be leaving the bank for a position with Texas-based diversified financial services provider, USAA.

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Cox will be USAA's chief technology and digital officer, a newly created role, and she will report to CEO Stuart Parker.

Cox had been head of client experience, digital and Marketing in the consumer bank until Stephen Bird, head of Citigroup's consumer bank, tapped her last year to head up a new unit called Citi Fintech . The unit has around 75 employees and focuses on mobile banking.

As with many of its counterparts, Citigroup has embraced fintech to attract and retain customers used to performing daily tasks on their smartphones and watches.

The bank has far fewer brick-and-mortar branches than its biggest US competitors, making it especially focused on digital banking.

In a statement today, Bird said Cox had "embraced our vision to become a true mobile business, championed working in new ways to improve speed to market and pursued every avenue to make the experience we deliver simpler, better and faster."

Finance Magnates last reported on Citigroup in July after EM FX specialist Dan Hanson parted ways with the lender. This was a big name to leave Citigroup, which over the past few months has seen the loss of several senior executives.