The vice chairman of Citigroup’s alternative assets division is retiring from the bank after 16 years.
The Wall Street Journal reported that the reason for Chad Leat’s departure, which was announced through an internal memo, was not disclosed. It is also said that his position will not be replaced.
In his current position, Leat is responsible for advising private equity firms, such as KKR and Blackstone Group, on leveraged buyouts.
Leat is the latest executive to leave Citi following former CEO Vikram Pandit’s surprising exit last year.