Four months after revealing that the global chief of its mortgage business was leaving, Citigroup Inc. has named a replacement from within the firm.
Jonathan Larsen became
the New York-based financial services company’s global head of retail banking and mortgages in July 2012.
But in December 2016, an
internal memo from Citigroup Chief Executive Officer Global Consumer Banking Stephen Bird indicated Larsen was leaving.
A copy of another internal memo issued by Bird on Thursday provided to Mortgage Daily by Citi indicates that a replacement has been found for Larsen.
According to the memo, David Chubak has been named
head of global retail banking and mortgage. He’ll report directly to Bird.
Before joining Citi in 2013 as head of productivity, Chubak
was a Partner at McKinsey & Co. where he led both the global banking and real estate practices.
“David has worked enterprise-wide and closely with global consumer banking leadership, to re-engineer core processes and platforms to improve the client experience and drive execution strategy across products, geographies and operations,” Bird stated in the memo. “Most recently, he partnered with members of the consumer leadership team on the strategic transformation of our U.S. retail franchise, the exit of mortgage servicing operations in the U.S., as well as optimizing our consumer franchises in several markets, including China, Korea and Mexico.”
On his LinkedIn profile, Chubak says he
obtained a Bachelor of Arts degree from Columbia University and a juris doctorate degree from New York University.
