Citi (NYSE: C) has named a new head of its middle-market lending business.
The New York company said in a press release that it had selected Richard Banziger to lead its U.S. Commercial Bank. He most recently oversaw global credit risk for Citi's institutional clients group. Before that, he managed Citi's asset-based finance unit.
He joined Citi in 1984 as a summer intern.
Jane Fraser, chief executive of CitiMortgage and commercial banking, praised Banziger's three decades of service, saying in a press release that he is "well-suited" to lead a group that has "driven lending growth for nine consecutive quarters."
Banziger's appointment will be effective at the end of June. He will succeed Will Howle, who was named head of Citi's U.S. retail bank in April.