A flag flies outside the Citigroup building in the Long Island City neighborhood of Queens, New York.
Daniel Acker | Bloomberg | Getty Images
Citigroup is making David Chubak its new head of U.S. retail banking at a critical time for the third-largest U.S. bank.
Chubak, who held largely strategic roles across the New York-based bank since joining Citigroup from McKinsey in 2013, will report directly to Anand Selva, head of the U.S. consumer banking division, according to a memo obtained by CNBC.
It’s one of the first major changes after Citigroup’s Jane Fraser ascended to president and head of the firm’s global consumer bank in October, replacing Stephen Bird as chief of retail businesses at the bank. In fact, five years ago Fraser had a role similar to the one that Chubak is assuming now, signaling the rise of the 39-year old Chubak within the Citigroup organization.