Adrian Johnson
TLDR:
Key points:
- Citi’s chief accounting officer, Johnbull Okpara, is leaving to pursue another opportunity.
- Robert Walsh named interim CAO while the search for a permanent replacement takes place.
Article Summary:
Citi’s chief accounting officer and controller, Johnbull Okpara, is leaving the bank after nearly four years, as per an SEC filing Tuesday. In his place, Robert Walsh has been named interim CAO. Patrick Scally, a 32-year Citi veteran, will be interim controller.
Walsh has a long history with Citi, holding various positions since joining in 1999. Meanwhile, Okpara, who joined Citi in November 2020, had been overseeing financial and regulatory reporting efforts.
The departure of Okpara is part of a trend of high-profile exits at Citi in recent times. The bank has seen several key executives leave, including the head of North America for Citi’s private bank, Don Plaus, and Tyler Dickson, who joined Blackstone after being a contender to lead Citi’s banking unit.
Other notable exits include Titi Cole, Mike Whitaker, and Tim Ryan, as Citi underwent reorganization and job cuts. The bank estimates it will cut 20,000 jobs by 2026.
