Citi Reworks Its Private Bank as Head Leaves Firm After 18 Years

Citigroup Inc. is revamping the management structure of its private bank following the resignation of Ida Liu, who’s led the unit for almost four years.

A new structure, announced on the same day as Liu’s departure, will eliminate her current role and instead focus on four regional heads who will report directly to Andy Sieg, head of the wealth business.

“This will enable even closer collaboration with leaders of the products and functions essential to delivering for our clients around the world,” he said in a memo to staff seen by Bloomberg News.

Liu, who will leave at the ...