Citigroup Co-President Medina-Mora Said to Plan to Retire
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Citigroup Inc. Co-President Manuel Medina-Mora has been telling colleagues that he is close to retiring as the Mexican unit he helped build fights fraud allegations, according to a person familiar with his thinking.
Chief Executive Officer Michael Corbat, who yesterday described a fraud discovered in Mexico as “appalling,” respects Medina-Mora and the business he developed, the person said. Medina-Mora turns 65 in August, and his retirement at that age wouldn’t be a shock, the person said. The decision could be made in coming months, the person said.