Robert A. McCormack, Citigroup's former head of global relationship banking, is planning to retire.

Mr. McCormack, 54, is a 26-year Citibank veteran. He has been overseeing development of the new company's risk management processes since an executive realignment last November.

An internal memorandum dated March 25 and signed by co-chairmen John S. Reed and Sanford I. Weill did not say when the retirement takes effect.

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