NEW YORK: Citigroup named Jonathan Lofthouse as its co-chief information officer to replace Stuart Riley, who has decided to leave the bank after 14 years, according to a memo seen by Reuters on Wednesday.

Lofthouse, a 26-year veteran of Citi, most recently served as global head of markets and enterprise financial risk technology. He will work closely with co-CIO Shadman Zafar.

Citi declined to comment. The bank is carrying out a sweeping reorganization to simplify its structure. (Reporting by Tatiana Bautzer and Saeed Azhar in New York, Editing by Chris Reese and Lananh Nguyen)