The top home lending executive at Citigroup Inc. is being moved to a new job, leaving a vacancy at the global financial services firm.
In May 2013, Jane Fraser was
named chief executive officer of CitiMortgage Inc. At the time, she had spent four years as CEO of Citi’s private bank and 11 years total with the New York-based company.
Then, in January,
Fraser took on additional duties overseeing U.S. consumer and commercial banking, and CD Davies was brought in as head of the global mortgage business reporting to Fraser.
Citigroup CEO Michael Corbat issued a statement Monday indicating that
Fraser will become CEO of Latin America.
Fraser will perform her new job from Miami beginning June 1.
“In the U.S., Jane has re-engineered the mortgage business, streamlined our branch footprint and driven cross-business collaboration while improving productivity, controls and performance,” Corbat said of Fraser in the statement. “She has sharpened our client focus with digital offerings and strategic investment in our top cities.”
Stephen Bird, who is CEO of Asia Pacific, is being named CEO of Global Consumer Bank.
After he starts his new job on June 1, Bird will
name Fraser’s replacement.
