As the former chief risk officer of Citigroup, Jorge Bermudez ’73 knows a thing or two about economic crises. Bermudez spent 33 years with the company in a variety of management roles before retiring in July of 2008 to start his own consulting firm.
From 1975 to 1981, he held various positions in Citibank's National Banking Group in New York and Houston, eventually becoming vice president. As unit head of Institutional Recovery Management from 1981 to 1984, he was responsible for a number of major corporate restructurings in the United States, Europe, and Latin America. He was named corporate bank head in Venezuela in 1984.
Mr. Bermudez returned to New York in 1986 as the head of risk for the Corporate Banking Division in North America. In the 1990s, he served in various positions including president of Citibank Argentina, head of the South America Division, and executive vice president and head of Global Cash Management and Trade. In 2000, he started Citibank's e-Business, which has been consistently ranked as Best Internet Bank by Global Finance magazine.
From 2002 to 2004, he was CEO of Citigroup Latin America and was responsible for the Consumer, Corporate and Investment Banking, Private Banking, and Asset Management businesses in Latin America and the Caribbean. As the chief risk officer from 2005 to 2008, he had responsibility for market, credit, and operational risk, and compliance around the world for Citi and all of its subsidiary companies.
Mr. Bermudez serves on the boards of Citibank Texas, Citicorp USA, and the Council of the Americas. He previously served as a member of the board of MasterCard International, LAC, chairman of the New York Clearing House Steering Committee, and a member of the boards of directors for Asociación De Bancos Argentinos, FEMSA Group (Mexico), Siembra (Argentina), and the Northfield Children's Center. He serves Texas A&M University on the International Board, College of Agriculture Development Council, Mays Business School Development Council, and the Board of the Association of Former Students.
Originally from Cuba, Mr. Bermudez graduated from A&M with his M.A. in 1975 and was one of the first Aggies to go to work for Citigroup in their New York office, where he worked as an international banker.
“Texas A&M has given me an education that allows me to compete with anyone,” he told students in a classroom setting in 2008. “It doesn’t matter where you went to school, it’s the quality and the quantity of the work that you’re willing to provide that will set you apart…you are coming out of this university extremely well prepared.”
Mr. Bermudez and his wife, Denise, live in College Station.