Citigroup co-president and global consumer banking head Manuel Medina-Mora is retiring in June, halting a 43 year old banking career.
The move comes after the bank’s Mexico operations Banamex, which is chaired by Medina-Mora, faced a $400m fraud scandal last year.
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The fraud triggered an internal investigation into the unit which revealed other problems, including problems at the bank’s private security division.
The bank is yet to find a successor for Medina-Mora, who will continue in his capacity as non-executive chairman of Banamex following retirement.
Banamex’s US business is also facing a US criminal probe for alleged violations of money-laundering laws.
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