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IN BRIEF / BANKING

Citi Names Magner to Head Global Unit

August 07, 2003|E. Scott Reckard

Marjorie Magner, who is overseeing Citigroup Inc.'s integration of California Federal Bank operations, was promoted to chief executive of global consumer operations for Citigroup, replacing Robert Willumstad, who recently became chief operating officer of the parent company.

Magner, 54, had been COO of the consumer operations, which include credit cards and home loans and generate more than half of Citigroup's earnings.

The giant New York bank last year bought CalFed's parent, Golden State Bancorp, for $5.4 billion.

Magner said former customers of CalFed have complained about unfamiliar statements and check-clearing policies but generally are pleased with Citigroup's Internet banking system.

E. Scott Reckard

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