Citigroup Inc. has named Manuel Medina-Mora head of global consumer and commercial banking, and also moved around several other top executives.
Mike Corbat will shift from managing Citi Holdings to serving as chief executive of Europe, Middle East and Africa, according to a memo that CEO Vikram Pandit and President John Havens sent to employees Friday.
The changes take effect Jan. 1.
Medina-Mora, who was named head of consumer banking in all of the Americas nearly two years ago, will now manage consumer and commercial banking worldwide.
His former responsibilities will be filled by three executives.
Bill Mills, who had been co-leader of the Europe, Middle East and Africa since 2008, will return to the United States as CEO of North America. It's a newly created position, though some of its duties had belonged to Medina-Mora.
Francisco Aristeguieta will take over as CEO of Latin American operations, except for Mexico; Javier Arrigunaga will run Mexico's day-to-day operations.
The memo praised Corbat for his work at Citi Holdings, the parent's holding tank for noncore assets it is trying to sell or unwind. Citi Holdings will make up only 13% of the balance sheet after the transfer of Retail Partner Cards back to continuing operations.
Mark Mason, Citi Holdings' chief operating officer, will succeed Corbat.
Mills' counterpart, Alberto Verme, will become chairman of EMEA banking.
Meanwhile, the Asia-Pacific region will also see some changes. Stephen Bird will become the sole CEO. Since 2009, Bird has shared responsibility for that region with Shirish Apte. Apte will become co-chairman of Asia-Pacific banking with Shengman Zhang.
