Citi to Pick New Exec For Its Funds Business

products business. David Browning, the executive vice executive appointed in January to oversee the Investment Products and Distribution Group, left in late October to take a three-month personal leave of absence. According to a Citicorp spokeswoman, Mr. Browning recently experienced two deaths in his family. The banking company will soon name someone to replace him, she said. Meanwhile, the banking company has created a new post - head of global funds - and has named a veteran money manager from outside the banking world to fill it. Peter Meenan, formerly a managing director with Lehman Brothers Global Asset Management, has been hired to oversee Citicorp's worldwide portfolio of 250 mutual funds. Prior to his stint at Lehman Brothers, Mr. Meenan led the institutional funds group at Boston Co. "He is one of the most seasoned fund professionals that the banking industry has hired," said Geoffrey Bobroff, a bank consultant based in East Greenwich, R.I. Before the creation of Mr. Meenan's new post, Citicorp has lacked one individual to guide the sale of its mutual funds to retail, private banking, and institutional customers, the bank spokeswoman said. The bank manages $30 billion in propriety fund assets.