Citibank has now 24 hours to present a new candidate for the post. Meanwhile, the Central Bank informed that from next Monday onwards a special team will supervise Citibank’s activities

Wednesday, April 1, 2015

Central Bank removes Citibank CEO's authorization to hold post

Citibank has now 24 hours to present a new candidate for the post.

The Central Bank headed by Alejandro Vanoli has decided to remove the authorization granted to Gabriel Juan Ribisich to work as Citibank Argentina’s CEO.

The financial entity holds that Ribisch defied Argentine regulations when he followed the agreement signed between Citibank and holdout investors of Argentine debt amid the ongoing conflict between the South American country and so called “vulture funds.”

Citibank has now 24 hours to present a new candidate for the post. Meanwhile, the Central Bank informed that from next Monday onwards a special team will supervise Citibank’s activities.