The Citigroup Shuffle

Citigroup has promoted Alberto Verme to chairman of Salomon Smith Barney Latin America, a new position. He previously was head of Salomon’s Latin America investment banking division and has worked for the bank since 1994. Before joining Salomon, Verme was briefly at MG Global Capital, the merchant banking arm of Metallgesellschaft. From 1983 to 1992, Verme worked for the First Boston Corporation, becoming of director and head of Credit Suisse First Boston Spain. He was co-head of emerging markets at the firm between 1988 and 1990.

Meanwhile, Carlos Guimaraes has rejoined the investment banking division of his former firm, taking over Verme’s old job. Citi poached Guimaraes, a Brazilian, from Lehman Brothers where he managed its Latin American banking efforts. In the mid-1990s, he worked for the Latin American division of Long Term Credit Bank. Guimaraes spent eight years at Citibank, starting there just after earning his MBA from the Wharton School of Business in 1993. He has an undergraduate degree in economics from the Federal University of Rio de Janeiro.