Manuel medina mora citigroup layoffs

Puerto Vallarta, Jal- The chairman of Citigroup’s Mexico operations, Manuel Medina-Mora, is retiring in June, after a tumultuous year at one of the bank’s most profitable units.

Mr. Medina-Mora, who joined Citigroup in 2001 when the bank bought the Mexican bank Banamex, rose through the ranks to become co-president and head of global consumer operations.

But after a series of scandals rocked Banamex last year, raising concerns about lax controls in Mexico, Citigroup executives in New York began preparing for Mr.

Medina-Mora’s departure.

In a memo to staff on Friday, Citigroup’s chief executive, Michael L. Corbat, praised Mr. Medina-Mora, 64, for helping turn the bank’s hodgepodge of retail banks across the world into a cohesive global bank.

“The turnaround has been impressive,” Mr. Corbat wrote in the memo.

The bank said that a replacement for Mr.

Medina-Mora wo Fallece a los 69 años, el banquero Manuel Medina Mora - Quién MYC