Citigroup just announced 137 new managing directors in its trading and dealmaking unit - we got a hold of the internal memo with all the names

Citigroup

Citi Institutional Clients Group CEO Paco Ybarra.

• Citigroup announced its 2019 managing-director promotions last Friday.
• The MD distinction, the highest title at the firm, was earned by 137 employees in Citi's Institutional Clients Group, which houses its trading and dealmaking operations.
• Business Insider got a hold of Citi exec Paco Ybarra's internal memo announcing the full list of names.
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Nearly 140 employees in Citigroup's Institutional Clients Group received a dose of good news on Friday: They're part of the 2019 class of managing-director promotions.

The MD title is the highest at the firm and a coveted distinction. More than 50 of the 137 new managing directors this year came from the firm's sales and trading division, while nearly 40 came from the firm's dealmaking unit, according to a memo from Citi Institutional Clients Group (ICG) CEO Paco Ybarra viewed by Business Insider.

Other divisions with new MDs include Treasury and Trade Solutions, private banking, operations and technology, and commercial banking.

"A promotion to Managing Director is a career-defining accomplishment. Each of these individuals makes a remarkable, differentiated contribution to Citi, embodying our Mission of Progress by working each day to Be the Best for Our Clients and embracing our Leadership Standards," Ybarra wrote in the Dec. 6 memo. "I look forward to their continued leadership and contributions in the years ahead."

Citi spokeswoman Danielle Romero-Apsilos confirmed the contents of the memo.

The 137 promotions, which are effective as of January 1, are up from 125 last year and 120 in 2017.

Here's the list of 2019 managing director promotions at Citigroup:

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