NEW YORK, May 21 (Reuters) - The head of Citigroup Inc's (C.N: Quote, Profile, Research) Falcon Strategies hedge fund is leaving the company, the Wall Street Journal reported on its website on Wednesday.

Reaz Islam will remain at Citigroup's alternative investments unit "for a transition period," the Journal reported, citing an internal Citi memo.

Citi officials were not immediately available to comment. (Reporting by Paritosh Bansal; Editing by Gary Hill)