New York, N.Y., USA - Citi CEO Michael Corbat announced that he appointed Jamie Forese and Manuel Medina-Mora as co-presidents of Citi.
Article continues below
Mr. Forese will be responsible for all of Citi's Institutional businesses, and Mr. Medina-Mora will continue to oversee Global Consumer Banking and Citi's franchise in Mexico.
Mr. Forese had been the Chief Executive Officer of Securities and Banking in Citi's ICG.
He is the chair of the Risk Management Committee of the Institutional Clients Group.
He is based in New York.
Prior to his role as CEO of Securities and Banking, Mr. Forese was the co-head of Global Markets, with responsibility for managing the sales, trading and capital raising activities across Fixed Income, Currencies, Commodities, Equities and Municipal Securities.
Mr. Forese first joined the firm's Salomon Brothers division in 1985 and was named a Managing Director in 1992.
He graduated summa cum laude from Princeton University in 1985 with a Bachelor of Science in electrical engineering and computer science.
Mr. Medina-Mora was named Co-President of Citi in January 2013.
He is also CEO of Citi's Global Consumer Banking and the Executive Chairman of Mexico.
His global responsibilities include all Consumer Banking businesses, including Retail Banking and Wealth Management, Credit Cards, Home Mortgage and Commercial Banking.
His responsibilities for Citi's Mexico business include Corporate and Investment Banking, Consumer Banking, Insurance, and Pension Funds.
Mr. Medina-Mora began his career with Banamex in 1971 in Corporate Banking.
After earning an M.B.A. from Stanford University in 1976, he resumed his career with Banamex.
Over the next few years, he held positions in Corporate Banking, Treasury and the management of the International Network of the Bank, working in London, New York and California.
In 1990, Mr. Medina-Mora led Banamex's privatization and was named Deputy President of the combined entity, Grupo Financiero Banamex-Accival, in 1991, and CEO in 1996.
He served as CEO of Banamex from 2001 to 2004 until being appointed CEO of Citi Latin America and Mexico from 2004 to 2010.
Mr. Medina-Mora holds a bachelor's degree in business administration from the Universidad Iberoamericana in Mexico and an M.B.A. from The Stanford Graduate School of Business.
Citi CEO also announced that Jim Cowles will become Chief Executive Officer of Citi's Europe, Middle East and Africa (EMEA) region and that Brian Leach has been appointed Head of Franchise Risk and Strategy and will be responsible for Citi's Audit, Compliance, Corporate Policy and Strategy functions in addition to Risk Management. ■