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Citi is still hiring risk MDs amidst its cuts

Citi is preparing for its biggest reorganization in decades, but this is not preventing it from adding new managing directors (MDs). 

After 18 months of adding headcount to its risk and control teams, Citi has availed itself of some of the talent floating free from Credit Suisse and has also hired Eugene Gilerson, an MD in risk technology and data management. Gilerson spent nearly 20 years at Credit Suisse and is based in New Jersey.

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Gilerson had been at Credit Suisse since 2005 and was once a developer for Blackberry He'll join Citi's much enlarged controls and risk team. After being fined $400m in 2021 and told to improve its processes and its technology, Citi has spent the past few years strengthening its controls teams, with a particular focus on data and improving the underlying systems.

In this context, Gilerson was presumably too good an opportunity to pass by. However, he arrives amidst suspicions that Citi might decide to let some other of its newish risk and controls people go. "Citi has been on a hiring binge for several years now," one New York risk veteran told us a few weeks ago. "From my viewpoint, they are in the classic overhire-then-layoff cycle. It was only a matter of time."

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AUTHORSarah Butcher Global Editor

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