(Bloomberg) -- Citigroup Inc.’s Mark Mills is departing the Wall Street giant’s burgeoning wealth business, the latest in a series of leadership changes for the division.
Mills most recently led the firm’s investment advisory business for the UK, Europe, Middle East and Africa, according to a memo to staff seen by Bloomberg. He is departing the New York-based firm to pursue other opportunities.
Mills was replaced by Jonathan Leach, according to the memo. Leach was previously deputy head of Citigroup’s investment management division after earlier serving as head of investments for North America, the memo said.
“We are grateful for Mark’s excellent leadership,” Ida Liu, global head of Citigroup’s private bank said in the memo on Monday. “We will work together to ensure a seamless transition.”
A Citigroup representative declined to comment.
Under Chief Executive Officer Jane Fraser, Citigroup has been overhauling its wealth management operations as part of her bid to boost returns at the company. To that end, Fraser hired Bank of America Corp.’s Andy Sieg earlier this year to remake the firm’s global wealth management division.
Mills departure is part of a wave of recent exits from the business. Luigi Pigorni, who has led private banking across Europe, the Middle East and Africa for Citigroup, as well as Eduardo Martinez Campos, who was head of wealth services, have also announced their departures from the Wall Street giant in recent months.
Mills joined Citigroup in 2000 shortly after graduating from England’s University of Reading, according to his LinkedIn profile. He rose up the ranks of the private bank in the Gulf region and was appointed to his most recent role in London in 2021.