News Column

Chatham man named to head Citi division

July 1, 2014

By Robert Gold, Cape Cod Times, Hyannis, Mass.



July 01--CHATHAM -- A Cape resident started Monday as head of the U.S. division of Citi Commercial Bank.

Richard Banziger, a longtime resident of Chatham, will oversee the division, which handles banking with mid-sized companies nationwide.

"I think this is a wonderful opportunity," Banziger said. "I'm really looking forward to this."

Banziger has been with Citi for 30 years, but started in the industry at Cape Cod Bank & Trust Company in 1981, after college.

The industry executive said the job, which included working at CCB&T's South Yarmouth operations center, various jobs at branches and other positions, gave him his first real-world experience working for a bank.

"The main value for me was I got to see how a bank worked," he said.

Banziger took a leave of absence from the Cape bank in August 1983 to enroll in the MBA program at Columbia University in New York. Citibank hired him as a summer intern in 1984, and then as a management associate the next year, after he finished his degree.

Banziger rose through the ranks and held several senior positions in capital markets, asset-based finance, risk management and leveraged-finance positions for Citi. He has been based in Chicago, Los Angeles, London, Hong Kong and New York and estimated he's traveled to about 30 countries for his job.

Other roles with the bank have included overseeing the global corporate risk team for Citi'sInstitutional Clients Group and leading the asset-based finance division.

In his new position, he will be based in New York and oversee a division with 900 employees in 20 cities. But, despite the travel, Banziger has called Chatham his main home since the early 1980s. He's owned a house in Chatham since 1991. He grew up in Connecticut, but often visited the Cape since his family owned property in West Harwich.

Banziger estimated he travels to Chatham 20 to 25 times per year.

"Wherever I have moved in the world, distance is always measured by the travel time it takes to get to Chatham," he said.

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(c)2014 the Cape Cod Times (Hyannis, Mass.)

Visit the Cape Cod Times (Hyannis, Mass.) at www.capecodonline.com

Distributed by MCT Information Services


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Source: Cape Cod Times (Hyannis, MA)


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