Citigroup Names Manuel Medina-Mora Chairman and CEO of Citigroup Latin America and Mexico.Business Editors NEW YORK--(BUSINESS WIRE)--March 11, 2004 Citigroup (NYSE NYSE See: New York Stock Exchange : C) today named Manuel Medina-Mora Chairman and Chief Executive Officer of Citigroup Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Mexico. Mr. Medina-Mora, who will report to Sir Deryck Maughan, Chairman and Chief Executive Officer of Citigroup International, also retains the position of Chief Executive Officer of Banamex that he has held since 2001. In making this announcement, Robert B. Willumstad Robert B. Willumstad is the Chairman of the American International Group. He was formerly vice chairman of Citigroup. He left Citigroup in July 2005. Citigroup • • , 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 Citigroup, said, "Manuel is Manuel I, 1469–1521, king of Portugal Manuel I, 1469–1521, king of Portugal (1495–1521), successor of John II. Manuel's reign was most notable for the successful continuation of Portugal's overseas enterprises. an exceptional business executive who has guided Grupo Financiero Banamex Grupo Financiero Banamex has its origins and is the owner of Banco Nacional de México or Banamex, Mexico's second largest bank behind BBVA Bancomer. The Banamex Financial Group was purchased by Citigroup in August 2001 for $12.5 billion USD. to become the number one corporate bank, the number one retail bank, the number one credit card issuer, and the number one pension fund manager in Mexico. Manuel's leadership of our Latin America and Mexico operations as part of Citigroup International will enable us to achieve a more comprehensive and better-integrated international strategic approach for Citigroup." Mr. Willumstad also announced a new senior team for the Latin America region. Guillermo Acedo has been named Head of the Global Consumer Group - Latin America, reporting to Mr. Medina-Mora and Marge Magner, Chairman and Chief Executive Officer, Global Consumer Group. Gustavo Marin has been named Head of the Global Corporate and Investment Banking Group - Latin America, reporting to Mr. Medina-Mora and Robert Druskin, President and Chief Executive Officer, Global Corporate and Investment Banking Group. John Gerspach has been named Chief Administrative Officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive of the Latin America region, reporting to Mr. Medina-Mora. Jorge Bermudez, outgoing Chief Executive Officer of Citigroup Latin America, has become Senior International Advisor of Citigroup. Mr. Medina-Mora said, "Citigroup has an outstanding management team with enormous experience and deep knowledge of the markets and customers in the 23 countries in Latin America and the Caribbean where we do business. I look forward to working with the new senior management team, which is structured to build on our progress in aligning our efforts with our customers' needs and providing them with the finest financial products and services in the region. I am honored to have the opportunity to work with the regional and country teams -- and all of our colleagues throughout Citigroup International -- as we continue to focus on customer commitment and accelerating growth." In his capacity as Chief Executive Officer of Banamex, Mr. Medina-Mora will continue to lead the management team of Banamex, overseeing all of Banamex's businesses and operations, including the Corporate and Investment Bank, Consumer Bank, the Cards Business, Retail Banking, Treasury, Insurance, Pension Funds, Securities, Brokerage, and Asset Management. Mr. Medina-Mora joined Banamex in 1971, and during his first years held several positions in the International and Corporate Banking Groups. From 1981 to 1987, he was responsible for the Bank's operations in London and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . In 1990, he led Banamex's privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned , and as a result of the creation of Grupo Financiero Banamex-Accival in 1991, he became Deputy President, responsible for the bank's strategy and corporate development. In 1996, he was appointed Chief Executive Officer of Grupo Financiero Banamex-Accival, a position that he held until mid-2001. After the integration of Banamex into Citigroup in 2001, Mr. Medina-Mora was appointed Chief Executive Officer of Banamex and became a member of Citigroup's Management Committee in January 2002. Citigroup (NYSE: C), the preeminent global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which has 200 million customer accounts and does business in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com. |
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