Reuters reports that the bank is taking the opportunity to eliminate the position and will instead have Leach's direct reports - chief risk officer Brad Hu, head of audit Mark Carawan and head of compliance John Davidson - report directly to chief executive Michael Corbat.
In the meantime, Bloomberg News reports that Kevin Rideout, the head of wholesale execution services for Asia at Citigroup, will join Hong Kong Exchanges & Clearing Ltd. next week, according to two people familiar with the move.
Rideout will take charge of business development at the city’s bourse. He joined Citigroup in London in 2006 and led the bank’s execution services from Hong Kong from 2011. He worked for Thomson Reuter for a decade before joining Citigroup.