Citigroup has named Stefan Hafke as chief country officer for Germany, part of a series of changes at the top in the country, as the US bank continues to shake-up its leadership in Europe.
Hafke has been serving in the role on an interim basis since February, replacing Stefan Wintels, who became global co-head of Citi’s financial institutions group in February.
The new head for Germany will take responsibility for “harnessing the potential of our significant product capabilities in this important market”, according to an internal memo seen by Financial News.
He has also led Citi’s corporate banking unit in Germany and Austria.
As part of the latest changes, Hans Reich stepped down from his role as chair of Citi’s supervisory board for Citigroup Global Markets Europe AG, its regulated entity in the European Union. The bank’s head of European regulatory engagement, Barbara Frohn, was elected chair. Wintels was appointed deputy chair.
The US bank has been overhauling its leadership in Europe as investment banks shore up their operations on the continent after Brexit. In February, it named Kristine Braden, New York-based chief of staff to Citi chief executive Mike Corbat, as CEO of its post-Brexit hub in Frankfurt.
Hafke will report into Braden.
This followed the appointments of Fabio Lisanti as head of its markets business for Europe, excluding the UK, and Miguel Gabian as head of its sales and trading business in Spain and Portugal.
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