Citigroup CEO names new executive team

PHOTO: Citigroup CEO names new executive team

NEW YORK - The newly appointed chief executive of Citigroup Inc named two veterans of the bank to lead its institutional and consumer businesses as he announced his new management team on Monday.

Investment banker Jamie Forese will be responsible for the company's institutional business and will be co-president of the company with Manuel Medina-Mora, who will continue to oversee global consumer banking and Citi's franchise in Mexico, CEO Mike Corbat said.

Naming a new management team and lines of command has been a priority for Corbat since he took over the job on Oct. 16 and took on responsibility of at least 12 executives who had been working directly for Pandit or for John Havens, the chief operating officer of the company who quit when Pandit left.