Discover your dream Career
For Recruiters

Citi quietly parted company with its EMEA chief compliance officer

Citi may be cutting jobs, but it's also said several times that it continues to invest in compliance and controls. This continued investment has not prevented it from cutting one of its most senior compliance people in Europe. 

Get Morning Coffee  in your inbox. Sign up here.

Dominic Hirons, Citi's EMEA chief compliance officer, left the bank after five years in March. It's understood that he disappeared as part of Citi's program of stripping out layers of management.

Citi didn't immediately comment on Hirons' exit. Speaking at the time of Citi's first quarter results announcement, CEO Jane Fraser said the bank has more than halved its 400+ committees and now operates within eight management layers, thereby improving the speed of decision-making. However, Citi continues to invest in "automating manual controls and processes" and "intensifying processes" around data remediation and regulatory reporting, Fraser added. 

Citi has invested heavily in compliance and controls after being hit with a $400m fine and ordered to correct “longstanding deficiencies” in its risk and control systems in late 2020. 

It's not clear who is replacing Hirons or what his current intentions are. Prior to Citi, he spent nearly 11 years at Morgan Stanley, so he may be enjoying the rest. 

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Hunter Bond
Technical Business Analyst - Leading Trading Firm
Hunter Bond
London, United Kingdom
Paritas Recruitment - Data & Tech
Quantitative Researcher (Systematic Fund)
Paritas Recruitment - Data & Tech
London, United Kingdom
Deutsche Bank
Trader - Vice President
Deutsche Bank
New York, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.