Citi Taps Asia-Pacific Chief to Lead Global Consumer Bank










Citigroup has named Stephen Bird, chief executive of its Asia-Pacific division, to head its global consumer bank as part of a broader shuffling of executives.

Bird, a 17-year veteran of Citi, will shift to the new position on June 1 and will be based in New York. Bird will replace Manuel Medina-Mora; Citi announced in February that Medina-Mora would retire.

Francisco Aristeguieta, CEO of Citi’s Latin America division, will replace Bird as head of the Asia-Pacific region. Aristeguieta, who has been with Citi for 21 years, will move to Hong Kong.

Jane Fraser, head of Citi’s U.S. retail, commercial banking and global mortgage business, will succeed Aristeguieta and will be based in Miami. Bird will announce Fraser’s replacement after he assumes his new position.

Fraser will remain a member of Citi’s operating committee and will now report to CEO Michael Corbat.

Ernesto Torres Cantu, head of Citi’s Mexican bank, Banamex, will report to Fraser. Banamex was fined $2.2 million last year over charges of fraud.

Corbat announced the personnel changes in a Monday letter to employees. The company distributed the letter to news outlets.

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