A senior executive at Citigroup Inc. who is responsible for overseeing the firm’s mortgage business has notified the company he is leaving.
Jonathan Larsen originally joined the New York-based financial institution in November 1998 as head of business development, Asia Pacific.
In July 2012, he became global head of retail banking and mortgages.
He was given oversight of Citi’s U.S. mortgage business in June 2015.
A copy of a Dec. 9 internal memo from Citigroup Chief Executive Officer Global Consumer Banking Stephen Bird provided
to Mortgage Daily by Citi indicated that Larsen is leaving.
“Jonathan Larsen has informed me of his decision to leave Citi,” Bird stated.
The memo indicated that Larsen played
a pivotal role transforming the consumer franchise for nearly two decades.
“Over the past year and a half, Jonathan intensified his focus on our U.S. retail franchise positioning us to more effectively compete and grow,” Bird added.
CD Davies, who is head of the global mortgage business,
will report to Bird while Citi finds a replacement for Larsen.
Larsen’s departure was previously reported by The Asset.
