The German consumer-banking unit of Citigroup Inc. said its chief executive officer, Sue Harnett, is returning to the New York headquarters next month to head a re-engineering effort for its Global Consumer Group.
She will report directly to Ajay Banga, a co-head of global consumer banking.
As chief of Citibank Privatkunden AG & Co. KGaA, Ms. Harnett has led the bank's efforts to increase consumer lending, giving it 6.7% market share, and increased its wealth management and credit card businesses in Germany. Citigroup has 3.2 million customers, 340 branches, and 6,800 employees in Germany, Europe's largest economy.
Franz-Josef Nick, a member of the German management board, will take over business operations in Germany. George Awad, the head of consumer banking in Europe, the Middle East, and Africa, will be responsible for strategy until a successor is found, the Dusseldorf company said in a statement Wednesday.
Ms. Harnett has worked at the New York company since 1979 and took over German retail operations in May 2004.
