Citigroup Hires Bank of America’s Magasiner as Treasurer (1)

Citigroup Inc. hired Andrei Magasiner to be treasurer as the bank continues a deep reorganization and downsizes to compete with better-performing peers.

Magasiner, who joins from Bank of America Corp. and spent seven years at Citigroup earlier in his career, will start in his role on April 1, Chief Financial Officer Mark Mason said in a memo to staff seen by Bloomberg News. His appointment follows the departure of Mike Verdeschi, who spent 33 years at New York-based Citigroup before leaving the bank late last year.

The hiring comes as Citigroup’s management is streamlining the bank, including the elimination ...