Citi has confirmed Staley will become head of global commodities, effective immediately. Previously deputy head of commodities, he will succeed John Casaudoumecq, who is to retire after 25 years with the bank. Staley will relocate to London from Houston in April.
According to a statement from Citi, its commodities business has become a strategic priority over the past five years. It plans to continue adding staff globally, increasing head-count by 30–40% over the next three years.
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