Citi paying up to $500k salary to the top tech MD in its 'Crown Jewel'
Citi may have put two lifers in temporary charge of its 'Crown Jewel' Services business, but it's open season on the full-time position. The bank is currently hiring a managing director (MD) based in New Jersey to be its head of services technology. It will be paying them handsomely.
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The listing for the role as head of services technology says that the MD in question will earn up to $500k in salary alone. The role involves leading a "15,000-person technology team" with a budget of $1.5bn.
The listing says the services tech team encompasses 1,200 in-production applications. It's not clear whether these include legacy apps. If so, the MD may be decommissioning a large part of Services' "large digital transformation" efforts. He or she will also be building some new platforms and driving generative AI adoption.
The role may go to one the division's interim co-heads of technology: Amit Rijhsinghani and Mahantesh Mukartihal. The pair are long-serving Citi tech people, spending a collective 38 years at the bank. Otherwise, it may go to another internal hire or someone from outside the bank entirely.
Citi is taking its time to come to a final decision, however. The listing was expected to close on the 25th of January, 17 days ago, yet remains up.
Citi declined to comment.
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