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Citigroup Global Consumer Group announces acquisition.



Citigroup's Global Consumer Group recently announced a restructuring of its commercial real estate business with the completion of the acquisition of Golden State Bancorp, parent of Cal Fed Bank. Combined with Cal Fed's commercial real estate business, the new unit will be known as Citibanking Commercial Real Estate.

Deborah G. Adelman has been appointed as president, Citibanking Commercial Real Estate. She also has direct responsibility for the Tri-State Commercial Real Estate region.

Adelman reports to Ajay Banga, executive vice presidentGlobal Consumer Group, and president Retail Banking North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . She formerly served as chief credit and risk officer, Citibanking North America.

Mike Walker, who was executive vice president and director of Cal Fed's Commercial Real Estate Group is now the Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 of Citibanking Commercial Real Estate reporting to Adelman, and has overall responsibility for business strategy, marketing, loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. , administration and also coordinates support from the legal and technology groups. In addition to his responsibilities as COO, Walker also has responsibility for the combined Northern California/Nevada region. The Cal Fed Phoenix office reports to Walker.

Tom Lawyer, who was the executive vice president responsible for Cal Fed's Commercial Real Estate Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850.  division, is responsible for the group's combined business in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , reporting to Adelman. Robert Webster is currently executive vice president and senior managing director of Citi's Commercial Real Estate Group in Illinois and the Mid-Atlantic region (MACB MACB MacAulay-Brown, Inc.
MACB Maine Association of Community Banks
MACB multinational acquisition and contracting board (US DoD)
MACB Mad As Can Be
).
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Title Annotation:of Golden State Bancorp
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 11, 2002
Words:232
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