Citibank said its Brazil CEO Marcelo Marangon has been appointed co-head of global corporate banking and will move to New York to assume his new position.
Marangon’s career at Citi spans 27 years, including eight as CEO of its Brazilian subsidiary. Under his watch, the subsidiary achieved annual average asset growth of 19%, the lender said in a release Wednesday.
In his new role, Marangon will work alongside Kaleem Rizvi, who was also promoted to co-head of global corporate banking, said Citi.
He will remain in charge of the Brazilian operation until a successor is appointed.