Citigroup investment bank president Jamie Forese to exit

Citigroup's president and investment bank boss Jamie Forese, long considered the potential successor to chief executive officer Michael Corbat, is departing after 34 years at the firm according to an internal memo. Forese, 56, is one of the longest serving executives at Citi. He also served as head of the bank's Institutional Clients Group (ICG), which brought in about half of Citi's revenue last year. There he will be succeeded by Paco Ybarra, who served as Forese's deputy. This would be the biggest departure from the executive team at the third largest U.S. bank since consumer banki...