NEW YORK, Mon Jan 7, 2013 — The new chief executive of Citigroup Inc. named two company veterans to lead its institutional and consumer businesses on Monday and set lines of command to give him more direct responsibility for executives than his predecessor.
CEO Mike Corbat said on Monday that investment banker Jamie Forese will be head of institutional business and co-president of the company with Manuel Medina-Mora, who will continue to oversee global consumer banking and Citi’s franchise in Mexico.
Corbat decided not to fill the post of chief operating officer, which was held by John Havens, who left when Corbat was named on Oct. 16 to replace Vikram Pandit as CEO.
In January 2011, Pandit had put Havens, a longtime ally from their days managing a hedge fund, in charge of day-to-day operations and assigned him responsibility for several managers so he could focus on broader goals.
The new organizational chart shows 13 managers under Corbat and includes chiefs of major business categories, executives who oversee four major regions and managers in companywide functions.