New York–based international financial conglomerate Citigroup has named Mike Corbat as sole CEO of the bank’s business in Europe, the Middle East and Africa (EMEA), The Wall Street Journal reports. He will succeed Bill Mills, who will return to the U.S. to manage the bank's North American operations, and Alberto Verme, who will stay in the region as chairman of banking for EMEA.
In his new role, Corbat will be responsible for 294 bank branches and $9.4 billion of deposits. Corbat was with Citi Holdings as CEO. The reshuffle will also see Manuel Medina-Mora take additional charge of Citigroup's consumer and commercial banking operations globally. Mora was Citigroup’s head of consumer banking for the Americas.
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