Citigroup is stripping chief operating officer Anand Selva of his responsibility for a key piece of its compliance work, after the bank was fined $136mn by regulators this summer for reporting failures.

According to four people familiar with the changes, Selva will no longer head the data overhaul team working to satisfy regulators that the bank’s compliance systems are up to scratch.

Selva’s responsibility for data compliance will be shared with Tim Ryan, the former accountant and top PwC partner who joined Citi in June.

The bank will also name a new top data officer to replace Japan Mehta, who reported to Selva. Ashutosh Nawani will instead report to Ryan.

Selva and Citi were sued this year by a former staffer, Kathleen Martin, who claims she was instructed by the executive to lie to regulators. Martin alleges she was fired after telling regulators instead that the bank was behind schedule in fixing its issues. 

Citi, which is fighting the lawsuit, said Martin was fired legitimately for performance issues. A spokesperson for Selva declined to comment.

https://www.ft.com/content/3e2124e3-6750-4182-b57f-810615063aa1

(http://www.autoadmit.com/thread.php?thread_id=5596442&forum_id=2...id#48099581)