Hamid Biglari, a 12-year veteran of Citigroup who was most recently head of emerging markets, is leaving the company, according to a memo from new CEO Mike Corbat on Monday.

Biglari, also a vice chairman and a member of the company's business development committee, will "explore other professional opportunities," according to the memo, which was seen by Reuters.

Corbat has been realigning the company's chain of command since he was suddenly named CEO in October to replace Vikram Pandit.

(Reporting by David Henry in New York; Editing by Gary Hill)