Citigroup Names Next Controller, Accounting Chief -- Update

By Stephen Nakrosis 

Citigroup Inc. on Friday named Johnbull Okpara as controller and chief accounting officer.

Mr. Okpara is currently global head of financial planning and analysis and chief financial officer of the infrastructure groups at Morgan Stanley, a role he has held since 2016. Before that he was deputy controller at Capital One Financial Corp. He will assume his new role at Citi once he is released "from certain commitments to his current employer," the New York bank said in a regulatory filing without providing details.

Mr. Okpara succeeds Jeff Walsh, who stepped into the role on an interim basis in February following the departure of Raja Akram, the bank's former chief accountant. Mr. Walsh was Citi's controller and chief accounting officer from 2009 through 2017. He retired from the bank last year after serving until early 2019 as head of transformation for the independent risk management division. Mr. Walsh is returning to retirement.

Mr. Okpara will receive a base salary of $475,000 and a 2020 bonus of about $3.53 million, Citi said in the filing.

"I'm thrilled that Johnbull is joining our team at Citi," Mark Mason, Citigroup's CFO, said in an internal memo, praising Mr. Okpara's industry experience.

--Kristin Broughton contributed to this article.

Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

September 25, 2020 19:39 ET (23:39 GMT)

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