Citi named Richard Banziger as head of Citi Commercial Bank in the U.S. A 30-year veteran of Citi’s Institutional Clients Group, Banziger will lead the bank’s expanding middle-market banking business across the country. He replaces Will Howle, who was named Head of Citi’s U.S. Retail Bank in April. Banziger, who will begin his new role at the end of June, will report to Jane Fraser, CEO of Citi U.S. Consumer and Commercial Banking and CitiMortgage, and Sunil Garg, Head of Citi Commercial Bank globally.
“Citi Commercial Bank delivers a powerful proposition to tens of thousands of mid-sized companies in more than 100 cities worldwide,” said Fraser. “Its expertise, industry-leading products, platforms and services, and global reach have driven lending growth for nine consecutive quarters in the U.S. With three decades of experience at Citi, Richard is well-suited to help us build on that momentum and deliver remarkable results for our clients.”
As head of Citi Commercial Bank in the U.S., Banziger will oversee a unit that provides global banking solutions to mid-sized companies across a range of sectors. Recently, Citi Commercial Bank formed a number of specialty segment teams, including Technology, Healthcare and Asset-Based Lending groups, all of which have generated portfolio growth and contributed to an increase in both lending and deposits.
“Richard’s 30 years of experience serving business clients in a number of different ways positions him very well to lead the U.S. Citi Commercial Bank,” said Garg. “Mid-sized companies are increasingly looking to Citi for banking solutions, in large part because of our unmatched global footprint. Richard will help us leverage that power on behalf of our clients and continue to build the business.”
Banziger has held various senior positions in Citi’s Leveraged Finance, Capital Markets, Asset-Based Finance and Risk Management groups, with assignments in Chicago, Hong Kong, London, Los Angeles and New York. Since 2010, he has led the global corporate credit risk team for Citi’s Institutional Clients Group and has been a senior member of Citi’s Risk Management organization. Prior, he led Citi’s Asset-Based Finance business, which, under his leadership, grew revenue and assets and improved operating efficiency. He joined Citi as a summer intern with the Private Bank in 1984.