The restructuring of Citigroup will see the exit of Jud Linville, the head of its global credit card division, according to a report by Financial Times. The restructuring is being done to align the company’s structure with its strategy.
Citibank is the world’s foremost credit card issuer, in terms of credit provided, with its outstanding loans as of Q2 of this year being $158 billion. In total it currently has over 140 million cards in use.
Anand Selva will be in charge of the US card business following the restructuring. He will become the head of US Consumer Banking.
The restructuring will also see a single executive handle cards and retail banking for international markets (those outside USA).
David Chubak will take on the added responsibility of global consumer lending, in addition to his current role as head of global retail banking.
Linville has been with Citigroup since 2010 and has been instrumental in globalising the rewards program of Citi.
Sources: Financial Times, Business Insider