Vikram Pandit, Citi’s CEO, has unveiled a comprehensive reorganisation of Citi’s structure to achieve greater client focus and connectivity, global product excellence, and clear accountability.
The new organisational structure will allow Citi to focus its resources towards growth in emerging and developed markets and improve efficiencies throughout the company.
Citi has established a regional structure to bring decision-making closer to clients. It is empowering the leaders of the geographic regions with the authority to make decisions on the ground. These geographic regions are each led by a single chief executive officer who reports to Mr. Pandit. Asia Pacific, including Japan, will be led by Ajay Banga. Western Europe, Middle East and Africa will be headed by William Mills. The Central and Eastern European region will be led by Shirish Apte. Manuel Medina Mora will continue to lead Mexico and Latin America.
In addition, Citi has reorganised its consumer group into two global businesses Consumer Banking and Global Cards. Teresa A. Dial will join Citi as global head of Consumer Strategy and CEO of Consumer Banking in North America. Citi has also consolidated its United States and international credit card businesses into a single global business led by Steven Freiberg, CEO of Global Cards.