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Citigroup has appointed an industry veteran to lead its North America private credit division, according to an internal memo seen by sources familiar with the matter. The strategic hire underscores Citi’s ongoing efforts to expand its presence in the fast-growing private credit market.
The newly named executive brings decades of experience in leveraged finance, direct lending, and credit portfolio management, having previously held senior roles at major asset managers and investment banks.
In the memo, Citi leadership emphasized the appointment as a “critical step” in strengthening its alternative lending capabilities and better serving institutional clients seeking non-bank credit solutions. The bank aims to position itself as a top-tier player in a sector that has seen explosive growth amid tighter traditional lending conditions.
Private credit — including direct loans to middle-market companies — has become an increasingly attractive asset class for investors chasing yield in a high-rate environment. Citi’s move reflects growing demand for customized credit strategies outside of the public markets.
The appointment is effective immediately, with the new head expected to drive origination, risk management, and platform scaling initiatives across the U.S. and Canada.
Further details on Citi’s expanded private credit strategy are expected to be released in the coming months.