Citigroup Inc. Chairman Richard Parsons is joining the Rhode Island private-equity firm Providence Equity Partners as a senior adviser but will remain in his Citigroup post.

Parsons, the former chief executive of Time Warner Inc., will work part time at Providence, a media-focused buyout shop whose holdings including Hulu and the Metro Goldwyn Mayer movie studio.

At Citi, Parsons, 61, will recuse himself from any business decisions related to Providence, a longtime Citi client.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.