Citi global co-head of markets Lathrop to depart

NEW YORK (Reuters) – Citigroup Inc said on Thursday in a memo that Carey Lathrop, global co-head of markets, will leave the bank and Andy Morton, who has been sharing the post with him since 2019, will entirely assume the position.

After a roughly 30-year stint at Citi, Lathrop decided to depart to seek a new professional challenge, Paco Ybarra, Chief Executive Officer of Institutional Clients Group, said in the memo, without providing further details.

Both Lathrop and Morton took the helm of the markets unit in 2019, leading alongside Ybarra a series of businesses combinations into single units, such as stock trading and prime brokerage.

Ybarra said Lathrop and Morton will continue to work together over the next several weeks amid the transition.

Bloomberg first reported on Lathrop’s departure.

(Reporting by Carolina Mandl; Editing by Andrea Ricci)