Despite eliminating thousands of workers throughout the company, it seems
that Citigroup is focusing its HR efforts on training and developing senior
employees within its North American consumer banking division.
Roberto Hiriart, senior human resource officer for Citi’s global consumer
group, will retire July 11, according to spokesman Luis Rosero. Instead of
dividing his responsibilities among Citigroup’s global HR team, the company is
creating a new HR position to oversee the 38,000 employees in its North American
consumer banking division.
The new HR officer, which Citigroup is looking to hire, will focus on
training and development—particularly for the 200 senior employees within the
division. Citigroup is hoping to hire an executive with 20 years of
experience.
Citigroup decided to create a new position for the North America consumer
banking division because it saw an opportunity, Rosero said. “We are constantly
looking at how we can properly align our businesses,” he said.
Hiriart’s international responsibilities will be spread among Citi’s global
HR team.
Industry observers said it’s a good sign that Citigroup appears to be
focusing on developing employees in those areas of the business where it sees
growth potential.
“It’s not unusual for companies to look at how they can enhance their
employees’ skills and career opportunities within the organization during a bad
economy,” said Melissa Brophy, a principal with Maximum Management Corp., a New
York-based HR recruiter.
Citigroup has been hit hard by the credit crisis. The bank has posted $15
billion in losses in the past two quarters and announced plans to eliminate
9,000 jobs. And many believe more layoffs within the company’s global investment
banking division are coming.
But the fact that Citigroup isn’t taking Hiriart’s duties and dispersing them
to its HR staff means the bank is keeping its focus on growing the business and
developing its people, said Gary Rich, a New York-based leadership development
consultant.
“Citigroup has hundreds of thousands of employees that continue to need
development,” Rich said. “So even if part of their business is contracting,
there is still a large part of the business that is continuing as business as
usual.”
—Jessica Marquez
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