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UPDATE: Citi Names Forese, Medina-Mora as Co-Presidents

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Citi (NYSE: C) Chief Executive Officer Michael Corbat today announced the roles and responsibilities of the members of his management team and appointed Jamie Forese and Manuel Medina-Mora as Co-Presidents of Citi. 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. The Operations & Technology functions supporting the Institutional and Consumer businesses will now directly report to Mr. Forese and Mr. Medina-Mora, respectively, to better align the functions with the priorities of each business and improve efficiency.

Mr. Corbat also announced that Jim Cowles will become Chief Executive Officer of Citi's Europe, Middle East and Africa (EMEA) region. 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. Brad Hu, currently Head of Risk for the Asia Pacific region, will become Citi's Chief Risk Officer and will report to Mr. Leach.

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