He remains chairman of the investment bank, a key source of growth for the company, and he will take over for Thomson as head of wealth management until a successor for Krawcheck in the chief financial officer role is found.

FORBES: Turmoil At Citi

Kopnisky will serve as CEO of the combined company, while Provident New York's chief financial officer Luis Massiani will serve in the same role.

WSJ: Provident New York buying Sterling Bancorp

He was initially the Chief Financial Officer (CFO) of the company's German mobile subsidiary, later assuming the role of Chief Executive Officer before becoming the Chief Sales and Service Officer of the company's European mobile operations.

ENGADGET: Deutsche Telekom CEO Ren�� Obermann leaving by the end of 2013, CFO to take over