Frank Bisignano the Chief Executive Officer of Citigroup’s Global Transaction Services (GTS) is leaving Citigroup to take over a newly created Chief Administrative Officer (CAO) position at JPMorgan.
In an internal memo, Citigroup announced the 46-year-old Bisignano “has decided to leave Citigroup Corporate and Investment Banking to pursue other opportunities.” The memo went on to say that current Chief Operating Officer of Global Banking Alan MacDonald has been named the acting head of GTS.
A Citigroup spokesperson confirmed the news.
Separately, in an internal memo sent to the senior management at JPMorgan, it was announced that Bisignano was joining the firm as Chief Administrative Officer (CAO) and a member of the firm’s Operating Committee. “Frank will oversee Central Technology & Operations and Real Estate and General Services; help us coordinate administrative and infrastructure matters throughout the company; and advise our senior leadership group on a broad range of issues where he has significant experience and expertise,” the JPMorgan memo said. In his new role, Bisignano will report directly to CEO-in-waiting Jamie Dimon.
Reporting into Bisignano in his new role are Austin Adams and George Ross. Adams will continue to serve as Chief Information Officer, directly responsible for Central Technology & Operations and will remain a member of the firm’s Operating Committee.
A JPMorgan spokesperson confirmed the news.