Citi Ventures gets new boss

Citi Ventures gets new boss

Citi has named Vanessa Colella chief innovation officer and CEO of its venture capital arm, replacing Debby Hopkins, who is retiring, according to Reuters.

Colella take on the new jobs at the beginning of next year having been global head of venture investing and strategic growth initiatives at Silicon Valley-based Citi Ventures since 2013, says Reuters. Previously, she spent three years as head of North America marketing.

She replaces her boss Hopkins, who founded the bank's venture arm in 2010 and has used it to invest in fintech players including mobile payments giant Square, robo-advisor Betterment, blockchain outfit Chain and AI-based fraud detection company Feedzai.

Citi has lost several high-profile tech-focussed female executives in recent months. In August, head of fintech Heather Cox quit to join USAA as chief technology and digital officer, following colleague Melissa Stevens out the door, who went to Fifth Third as chief digital officer.

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