Citigroup taps insider Titi Cole to lead legacy franchises – memo

(Reuters) – Citigroup Inc named Titi Cole as the chief executive officer of its legacy franchises segment, primarily consisting of the consumer businesses that the bank’s set to exit soon, according to an internal memo seen by Reuters.

Cole is a veteran in the banking industry with nearly 30 years of experience and has previously worked at Wells Fargo and Bank of America, the memo from Citi Chief Executive Officer Jane Fraser said.

Cole joined Citigroup in 2020 as the head of global operations and fraud prevention in the bank’s Global Consumer Banking (GCB) segment. She is also the unit’s chief client officer.

The appointment is effective immediately, the bank said.

(Reporting by Niket Nishant in Bengaluru and David Henry in New York; Editing by Shinjini Ganguli)