Citigroup has appointed Ellen Costello, former BMO Financial chief executive, and Intel President Renee James to its board.

Both appointments to the newly created seats will take effect Jan. 15. Costello and James will the fourth and fifth women on Citi's board, which will total 16 members.

Costello was BMO Financial's CEO from 2011 to 2013. Prior, she was the first female CEO of BMO Harris Bank. Costello was a regular among American Banker’s Most Powerful Women in Banking for years before her retirement from BMO.

Costello is a director of financial technology provider DH Corp., and serves on the board of the Chicago Council on Global Affairs and chairs the board of United Way of Metropolitan Chicago.

James has worked at the semiconductor manufacturer Intel for more than 25 years and will be resigning at the end of this year.

James' appointment will be valuable to Citi, as a company with "intense focus on digital and mobile banking," Chairman Michael O'Neill said in a news release.

James was involved in Intel's expansion into proprietary and open source software and services for applications in enterprise, security, cloud-based computing and smartphones. In 2013 she was appointed to the National Security Telecommunications Advisory Committee by President Obama. She is a director of Sabre Corp., Oracle and Vodafone.

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