Meet the man tasked with fixing Citi's tech — and securing its future
Tim Ryan, a former PwC partner, has taken on the role of head of technology at Citigroup to lead a massive digital transformation. He is tasked with modernizing the bank's outdated software and managing a $12 billion budget to ensure future competitiveness.
Why it matters
Citigroup's ability to modernize its legacy technology is a critical test case for traditional banking institutions attempting to compete with fintech and digital-first rivals.
Daniel Terna for BI Tim Ryan thrives in chaos. Few signs suggest Ryan's appetite for the messiest problems. An often-smiling, mild-mannered Bostonian, he traded nearly a decade as PwC's senior partner for one of Wall Street's toughest turnaround jobs at Citigroup. "I knew that I really needed to be in a place where I get my hands dirty," he said in late May about his decision to join the bank. Citi promised to be just that when Ryan started as the head of technology in June 2024. The bank was known for its outdated software; it was facing fresh regulatory fines for failing to fix problems quickly enough; it was in the middle of a multi-year, multi-billion-dollar "Transformation" effort.
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