Citigroup appoints head of US consumer business

by Gill Montia

Story link: Citigroup appoints head of US consumer business

Citigroup has appointed Terri Dial as head of its US consumer business.

Ms Dial, who is currently executive director UK Retail Banking at Lloyds TSB, will replace Steven Freiberg.

In her new role as head of consumer strategy at the world’s largest bank, the 58-year-old Californian is charged with increasing profit in US retail banking and consumer finance.

In the past she has worked for Citigroup on its North American credit card business and the new position involves oversight of the group’s worldwide card business.

Ms Dial began her banking career as a teller at Wells Fargo, eventually working her way up to vice-president.

The appointment forms part of a reshuffle of senior positions at Citigroup, which began when Charles Prince was ousted in December and Vikram Pandit took over as chief executive.

Mr Pandit has since been carrying out a cost-based review of the business, aimed at increasing revenues and the group’s share price, which has fallen by more than half in the past year.

So far, over 6,000 jobs have been cut and further redundancies are expected.