Citi names Chubak head of U.S. retail banking
Citigroup said Tuesday that it has named David Chubak its new head of U.S. retail banking.
In the new role, Chubak will report to Anand Selva, CEO of U.S. consumer banking. He succeeds Will Howle, who retired in April, a spokeswoman said in an email.
As head of U.S. retail banking, Chubak will oversee all of Citi’s retail channels, including the branch network, wealth management, international personal banking, mortgage and small business banking. He will also supervise product management, client segments and risk management, and will work in partnership with the regional and global functions.
“The role requires a highly collaborative leader with a global perspective, a deep understanding of the U.S. market and a client first focus to rethink and reimagine the business model,” Jane Fraser, president of Citi and CEO of global consumer banking, said in a joint memo with Selva. “This move brings a leader with a deep understanding of our model and unique strengths into a critical role and aligns strong talent with our highest franchise priorities.”
Chubak was previously the global head of retail banking and consumer lending. In that role, he led strategy for payments and networks and led plans to modernize Citi’s ATM network, among other responsibilities. Fraser and Selva also credited him as playing a critical role strengthening governance across compliance, risk and controls. Before that, Chubak was the global head of retail banking and mortgage.
He joined Citi in 2013 as global head of productivity. Before that he spent almost eight years working for the consulting firm McKinsey & Co.
Citi has not yet identified Chubak’s successor, the spokeswoman said.