Citi Separates Institutional, Consumer Leadership

Citigroup Chief Executive Michael Corbat appointed Jamie Forese and Manuel Medina-Mora as co-presidents of Citi.

Forese will be responsible for all of Citi’s institutional businesses, and Medina-Mora will continue to oversee global consumer banking and Citi’s franchise in Mexico. The operations and technology functions supporting the institutional and consumer businesses will now directly report to Forese and Medina-Mora, respectively, to better align the functions with the priorities of each business and improve efficiency, Citi said.  

Jim Cowles will become chief executive of Citi’s Europe, Middle East and Africa (EMEA) region. Brian Leach has been appointed head of franchise risk and strategy, and will be responsible for Citi’s audit, compliance, corporate policy and strategy functions in addition to risk management. Brad Hu, the head of risk for the Asia Pacific region, will become Citi’s chief risk officer and will report to Leach.