(Bloomberg) -- Citigroup Inc., the third-largest U.S. lender, said Deepak Sharma will retire as chairman of its private bank after 38 years with the firm.

Sharma, 59, will step down at the end of April, according to a memorandum from the New York-based bank. Based in Singapore, Sharma has been chairman of the private bank since 2009, when he moved from his post leading the firm’s Global Wealth Management International unit.

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