Citi Mexico wiz may struggle making magic up north

11 January 2010 By Antony Currie Follow @AntonyMCurrie

Banamex boss MedinaMora deserves his promotion to run retail banking across the Americas. As CEO Pandit s poster boy for how the bank should work, it s not a surprise. But Citi s a small fish in a vast US pond. Making as big a splash in a more competitive market will be hard.

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Citigroup appointed Manuel MedinaMora chief executive of consumer banking for the Americas. He has also been appointed chairman of Citi's newly created consumer council. MedinaMora was previously Citi's chairman and chief executive for Latin America and Banamex in Mexico, roles he will maintain while adding North America to his remit.

Current North America consumer banking head Terri Dial is stepping down for personal reasons, according to Citi, but will remain as a senior advisor. Dial was one of three executives to receive a less than favorable verdict in a review of top staff at the bank conducted by management consultant Egon Zehnder. The two others head of legal and human resources Lew Kadan and chief administrative officer Don Callahan are still currently in their posts.

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