Investment bank Citi has hired a new chief administrative officer and head of productivity for its institutional clients group. Mark Rufeh, previously the chief administrative officer (CAO) of the investment banking division at Credit Suisse, will be responsible in his new role for maximising productivity and efficiency at Citi to improve financial performance and fund business growth.
Rufeh will oversee operations, technology, real estate, procurement, and corporate services functions, as well as manage Citi’s efficiency programmes and cost base. He will report to John Havens, CEO of the institutional clients group, and work closely with Carl Levinson, head of productivity improvement and re-engineering for Citi. Rufeh will also join the institutional clients group management committee.
Before joining Credit Suisse, Rufeh was CEO of The Westchester Capital Group, a private equity firm, and spent 15 years with Lehman Brothers, where he held a variety of senior leadership positions.
“Mark comes to us with a phenomenal record within our industry of delivering material improvements in financial performance through the implementation of innovative efficiency programmes, industry-leading support services and the effective management of costs,” said Haven in a statement.
Rufeh is the latest in a series of internal and external appointments at Citi since Vikram Pandit became CEO last December.