Citigroup is planning to reshuffle its top management in Japan following a regulatory investigation, The Wall Street Journal reports. The officials are considering appointinng a COO for Citigroup banking operations in Japan, as well as more direct oversight by executives in the New York headquarters.
The lender already has been trying to appoint more local executives to manage its Japanese division. The management may shift oversight of Citibank Japan back to New York. Citigroup’s presence in Japan has reduced in size since 2009, when the company exited most of its brokerage operations.
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