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...Of Citi’s five main business heads, in the current structure, three reported up through Ybarra. For the past few years, Ybarra has also been one of Citi’s top paid employees....
...Ybarra’s fiefdom and a similar management group on the consumer side would cease to exist. Citi declined to comment....
...Ybarra, a 36-year veteran of Citi, joined the bank as a junior manager in Madrid before climbing the ladder to become head of debt trading....
...Paco Ybarra, the departing head of ICG, earned $18.9mn last year and is not expected to be replaced. But Fraser must do better. The proposed new structure is the norm at other Wall Street banks....
...The Financial Times last month reported the bank was considering revamping its organisational structure following the retirement of Paco Ybarra, one of its top executives....
...The exit of Ybarra, whose division generated more than half of Citi’s $40.9bn first-half revenue in 2023, opens a window of opportunity for Fraser to make the most significant changes to reporting lines...
...The departure of Paco Ybarra, a 36-year veteran who had a big power centre at Citi, created an opportunity for Fraser to implement the reorganisation, which will effectively give her more day-to-day control...
...Paco Ybarra, head of the division that houses the investment and transaction banking operations, is based in the UK as are Manolo Falco and Andrew Morton, co-head of investment banking and co-head of markets...
...Job moves Paco Ybarra, Citigroup’s investment banking head and leader of the bank’s biggest business unit, is to leave the group in the most significant management departure since Jane Fraser became chief...
...Activision Blizzard president Mike Ybarra said the company was “immensely grateful for the passion” Chinese gamers had for their titles and that the company was looking for alternative distribution partners...
...Blizzard’s new co-leaders, Jen Oneal and Mike Ybarra, bring “deep commitment to integrity and inclusivity” and an “unwavering sense of accountability”, said Daniel Alegre, Activision Blizzard’s chief operating...
...“She has a way of saying even the things that aren’t necessarily good with a positive tone,” said Paco Ybarra, the global head of Citi’s institutional-clients group, which includes investment banking, treasury...
...Citigroup is merging its rates and currencies businesses, in the first restructuring under new investment bank boss Paco Ybarra....
...He is succeeded by new co-leaders Jen Oneal and Mike Ybarra....
...“I am very cautious about this,” Mr Ybarra said in an interview....
...In an internal memo announcing his departure, Mike Corbat, Citi chief executive, and Paco Ybarra, investment banking boss, called Mr McGuire a “powerful and path-breaking voice for the industry on diversity...
...Still, that doesn’t mean that Ybarra’s foot soldiers will be laughing all the way to the bank....
...Ms Marshall cites research by Oscar Ybarra of the University of Michigan and others showing that even short bursts of social interaction promote cognitive functioning....
...But, as Ybarra says, the longer that home working continues, the harder it will be to maintain social cohesion in teams – as well as an all-important lateral vision....
...Other potential contenders to succeed Mr Corbat include Citi’s longstanding investment bank boss Paco Ybarra, and chief financial officer Mark Mason, who has held operational and strategic roles....
...has gotten better than we might have expected, and we stood up the firm and the markets are functioning, I worry that it decays over time,” he said, echoing comments from Citi investment bank boss Paco Ybarra...
...In the past year, new leaders have been put in place atop the company’s two divisions: Paco Ybarra at the institutional clients group, and Jane Fraser as head of the consumer division....
...The key to fixing the problem is to hire more diverse candidates early in their careers and make sure they are retained and promoted, said Paco Ybarra, chief executive of Citi’s institutional clients group...
...(FT) Citi investment bank boss predicts resurgence of offices The benefits to banks of having their staff work from home will “erode over time”, Paco Ybarra warned as he made the case for offices hollowed...
...Longtime Citi executives Mark Mason and Paco Ybarra were appointed chief financial officer and head of the institutional clients group, respectively....
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