In Brief: Citi Names Exec CFO of N. America Group

Citibank said Thursday it had named Carlos Palomares chief financial officer of its North American consumer banking group.

The Cuban-born Mr. Palomares, 52, is a 34-year veteran of Citibank's parent, Citicorp. He most recently was president and chief executive officer of Citibank Federal Savings Bank's east region and was responsible for all the company's branches in Florida and the Middle Atlantic states south of New York. This is his second promotion this year.

His new post gives him a wider reach. Citibank's North American consumer bank covers all of its branches in the United States and Canada, as well as its large credit card and mortgage businesses.

In his new role, Mr. Palomares will also be chairman of Citibank FSB. The new position is effective immediately, Citibank said.