Ybarra, who has been at Citi for 36 years, is head of its Institutional Clients Group (ICG), and that position would no longer exist under the reorganization, the source said on Monday.
Citi has been working to simplify its structure. Analysts debated if such a move would add risk to Citi's revamp, or conversely provide Fraser with more control over the bank's direction.
(Reuters) - Mark Shafir, one of Citigroup Inc's top dealmakers, is retiring after a career spanning over three decades during which he advised some of the world's largest corporations on several landmark deals. | 02:19pm
Citi's veteran M&A chief Mark Shafir to retire streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.