How many Citigroup managing directors have been cut since 2023 and in which regions?
Executive summary
No public, verifiable tally exists in the reporting supplied that enumerates how many Citigroup managing directors (MDs) have been cut since 2023; the available reporting documents specific individual departures and broader senior‑management reductions but Citi and many media reports declined to break out a precise MD count by headcount or by region [1] [2]. What can be said with confidence is that MD‑level exits have occurred in multiple regions — the U.S. (including New York and the Midwest/Chicago), London and elsewhere — as part of a global restructuring that Citi has described as worldwide and function‑ and geography‑focused [3] [4] [5] [1] [2].
1. What the hard numbers in the sources actually show
None of the sources supplied publish a comprehensive, aggregated number of managing‑director terminations since 2023; instead they offer slices: a municipal group reduction in June 2023 that included two named MDs and another New York‑based MD (Thomas Coomes, Marc Livolsi and Daniel Daly) [3], press accounts that “several” MDs and senior staff were affected in later 2023 rounds [6] [7], and reporting that Citi cut “more than 300 senior manager roles” in November 2023 — a figure reported without an explicit mapping of which of those were MD titles [8]. Company statements and reporting repeatedly declined to provide a public MD count [1] [2].
2. Regional picture: named departures and company framing
Journalistic reporting identifies specific MD exits in defined regions: the municipal cuts in June 2023 removed a co‑head of Citi’s Midwest public‑finance team based in Chicago along with two New York office departures [3]. Separately, industry outlets reported a London‑based MD (Milad Hadziabdic) leaving preemptively for a role in Abu Dhabi in 2023 [4]. Reuters and other outlets frame the later rounds as global in scope and say the bank’s plan and subsequent actions reached across business lines and geographies, with managers reviewing staff rosters worldwide [2] [5]. CNN also notes Citi described the layoffs as global and declined to break out regional numbers [1].
3. Scale vs. specificity: senior manager cuts vs. MD counts
Several reliable outlets reported scale — for example, roughly 7,000 total layoffs in 2023 across the company and a reported c.300 senior manager roles cut — but those figures are not a clean proxy for the number of managing directors laid off, because “senior manager” and “managing director” labels are used differently across functions and reports do not reconcile titles to counts [1] [8]. Reuters, CNBC and PYMNTS describe planning and meetings specifically involving managing directors, indicating MDs were in scope, yet they stop short of enumerating the total MDs eliminated [2] [6] [7].
4. Why precise MD counts are elusive and what that suggests
Citi’s public disclosures and spokespeople repeatedly declined to break out layoffs by region or title, and media relied on sources inside the bank or named individuals for details — a reporting environment that produces reliable examples but not a comprehensive census [1] [2]. This opacity serves multiple agendas: it allows Citi to manage reputational and regulatory risk while conducting a multi‑year restructure and leaves journalists to aggregate anecdotes and internal figures that may not be complete [5] [9].
5. Bottom line and what can be asserted
Based on the sources provided, an exact count of how many Citigroup managing directors have been cut since 2023 cannot be produced from public reporting supplied here; however, documented MD departures occurred in the U.S. (New York and the Midwest/Chicago) and Europe (London), and reporting characterizes the overall program as global and affecting senior ranks across business lines [3] [4] [5] [1] [2]. Reported large‑scale senior manager cuts (e.g., “more than 300”) and company plans to reduce layers and global headcount point to substantial MD‑level impact, but the exact MD tally and a full region‑by‑region breakdown are not present in the sources provided [8] [2].