Citigroup France banking head Coutts departs

January 30, 2012 10:42 AM EST

Citigroup's head of banking for France, Eric Coutts, has left after nearly five years at the company "by mutual agreement," a spokesman for the bank said on Monday.

Coutts is likely to be replaced by Charles-Henri Filippi, who is already country chairman, sources familiar with the situation said.

Coutts, 50, joined Citigroup in 2007 from Goldman Sachs Group Inc , where he had been co-head of restructuring, and was promoted in 2009 to head of investment banking for France and Belgium.

Coutts' assistant said she did not know where Coutts, who was named co-chief country officer for France last year, expected to work next.

"Eric is no longer at Citigroup," the spokesman said. "We will be announcing his successor very soon."

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Citigroup Chief Executive Vikram Pandit in early December said the bank planned to eliminate 4,500 jobs over the next few quarters.

The bank last month began a round of layoffs among its London-based investment bankers with jobs in advisory, equities and fixed income among those targeted.

The spokesman said Citi remained "committed to France" where the bank employs about 200 people.

Filippi, formerly head of HSBC's French unit, joined Citigroup in 2010.

(Reporting By Christian Plumb and Lionel Laurent, Editing by Mark Potter)

Copyright 2012 Thomson Reuters UK. All rights reserved.
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