The board of directors at Citi has elected Jay Jacobs as a new independent director.
Jacobs most recently served as president and managing director of Pacific Investment Management Company (PIMCO), a global investment management firm, prior to his retirement in September 2017.
Jacobs was at PIMCO, serving as the firm’s president from 2014 to 2017.
As president, Jacobs led the firm’s operational, administrative and infrastructure areas and chaired PIMCO’s global risk committee and served on its executive, compensation and audit committees.
Prior to PIMCO, Jacobs served as managing director and global head of human resources at PIMCO. He currently serves as an outside consultant to the firm.
Michael O'Neill, chairman at Citi, said, "We are pleased to have Jay Jacobs join Citi's board of directors. Not only does he have deep operational, administrative and business experience in the financial services industry, but he also brings to Citi's board insights gained from being an institutional investor and a client.”
He added: “I'm confident Jacobs’s perspective from these various viewpoints will prove immediately valuable to Citi."
