Citigroup’s Citi Private Equity head, John Barber, is to leave the firm after nine years, according to Financial News.Barber has served a total of 14 years with Citigroup, nine of which were dedicated to fund of funds, co-investment and mezzanine business Citi Private Equity.
After reported losses of more than $28.5 billion in the last 15 months due to exposure to the subprime mortgage disaster, the bank said it would split into two entities: Citicorp, the banking unit, and Citi Holdings, the brokerage, retail asset management, consumer finance and troubled assets unit.
Citi Private Equity will become part of Citi Holdings.
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