Large ag lender hires former Citi exec to fill key leadership post

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CoBank in Greenwood Village, Colo., has hired a former Citigroup executive as its chief banking officer.

CoBank, a cooperative bank that’s the largest member of the Farm Credit System, said in a press release Tuesday that Eric Itambo will start on July 1. Itambo, 48, will be responsible for all lending operations and banking service.

Itambo “is a talented banker with deep expertise in commercial lending and the delivery of credit to business enterprises,” CEO Thomas Halverson said in the release. “He has developed extensive experience over the course of his career in commercial banking, capital markets, infrastructure finance, public-private partnerships and other areas of significant value to CoBank.”

The chief banking officer post was last held by Halverson, who became CEO in January 2017.

Itambo has been a managing director and head of U.S. commercial lending at Citigroup. His Citi portfolio includes food and agriculture, as well as sectors such as consumer and retail industrials.

A native of Kenya, Itambo has also worked for Citi in positions in the U.K., Asia and the Middle East.

CoBank provides loans, leases, export financing and other financial services to agribusiness, rural power and water authorities and communications providers. CoBank also provides wholesale loans to Farm Credit associations. CoBank provides financing in all or parts of 15 states in the Great Plains, Rocky Mountains and West Coast regions.

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