NEW YORK — Citigroup Inc.'s consumer banking chief Manuel Medina-Mora bought $2.3 million worth of the bank's stock last week, according to a filing with the Securities and Exchange Commission.
In the SEC filing, Citi disclosed Medina-Mora bought 542,098 shares on Thursday, and now owns 7.5 million of Citi shares. He bought $380,098 shares at $4.30, and 162,100 at $4.29.
Medina-Mora, one of Citi's top executives, is chief executive of consumer banking for the Americas and chairman of the Global Consumer Council, which includes oversight of the U.S. retail banking business. He recently hired Cecilia Stewart to run that U.S. business, while he will remain in charge of Citi's day-to-day banking operations in Latin American.
During an investor conference last week, he said the emerging markets, which is Citi's main focus, create "an ideal environment for economic expansion and therefore financial system expansion," while the developed world will be slowed by high debts. "These global shifts promise to significantly reshape our industry the banking industry over the next decade," he said.
Citi's stock recently rose 1 cent to $4.19 after closing Monday down 2.1% in a broad selloff in bank stocks.