Michael Even and Stephen Hopkins were named co-heads of Citigroup Asset Management. Mr. Even, who will oversee investments, will retain his title as global CIO. Mr. Hopkins, who will oversee sales and marketing and non-investment staff functions, will take on the additional title of president and retain his current title of COO.
They will report to Bob Willumstad, president and COO of Citigroup and chairman of global investment management.
Messrs. Even and Hopkins replace Thomas Jones, former chairman and CEO of global investment management, who left the company in October. Mr. Jones had overseen asset management, private banking and the group's Travelers Life & Annuity unit. With today's announcement that MetLife will buy Travelers from Citigroup, and with Todd S. Thompson, chairman and CEO of Citigroup Global Wealth Management, now looking after private banking, Messrs. Even and Mr. Hopkins will focus solely on asset management.