Reply #7: Citigroup to name U.S. consumer chief in shuffle: report

[ozymandius]

NEW YORK (Reuters) - Citigroup Inc, the largest U.S. bank, plans to hire an outsider to take over its flagging U.S. consumer business, the Wall Street Journal said on Friday.

Terri Dial, who runs Lloyds TSB Group Plc's U.K. retail banking business, will replace Steven Freiberg at the helm of U.S. consumer operations, the newspaper said, citing people familiar with the matter.

Dial will become global head of consumer strategy, but the 58-year-old California native's primary task will be to improve U.S. retail banking and consumer finance, the newspaper said. Freiberg, who used to run the bank's North American credit card business, would take over the card business worldwide.

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The changes are the latest under Vikram Pandit, who replaced Charles Prince as chief executive in December. Pandit has been carrying out a top-to-bottom review of Citigroup to find ways to boost earnings and revenue, cut costs and help rejuvenate a stock price that has slid by more than half in the last year.

http://www.reuters.com/article/businessNews/idUSN2828876420080328