Citigroup Inc, the world's largest bank, has appointed William Rhodes to run Citibank, its consumer and corporate banking arm, as Chief Executive Charles Prince continues to build his own management team and overhaul consumer banking.
Citigroup said in a statement on October 06, that Rhodes, 69, would take on the roles of president and chief executive officer of Citibank and president of Citicorp Holdings Inc.
This is the latest top-tier appointment by Prince who has made a number of personnel and structural changes aimed at re-energising the bank to boost growth after disappointing earnings.
In August Marjorie Magner resigned as head of the global consumer group and Citigroup divided her job, naming veteran bank retail executives Ajay Banga and Steven Freiberg as co-heads of the consumer group.
Her abrupt departure came after the exit of the bank's No 2 executive, Robert Willumstad, who said he was leaving to look for a chief executive position at another company.