Citigroup Names Fraser U.S. Consumer Bank Head Amid Exits
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Citigroup Inc., the third-biggest U.S. lender, promoted Jane Fraser as head of U.S. consumer and commercial banking to succeed Cecelia Stewart, who plans to retire at the end of April.
Barbara Desoer, 61, was named head of Citibank N.A., replacing Eugene McQuade, 65, who’s also retiring and was nominated to become a member of the parent company’s board of directors, Chief Executive Officer Michael Corbat said in a memo to employees. Fraser, 46, will continue to oversee home lending and report to global consumer banking CEO Manuel Medina-Mora, 63, according to the memo.