Citi North America Consumer-Banking Chief Teresa Dial Departing

She is being replaced by Manuel Medina-Mora, who will also remain chairman and chief executive of Citi's Latin American and Mexican operations. In addition, he will be chairman of Citi's newly formed Consumer Council, at which Medina-Mora will be responsible for Citi's global consumer strategy and work closely with all regional CEOs.

Citi CEO Vikram Pandit said, "Manuel is an exceptional banker who has led our franchise in Latin America to a new level. His track record shows consistent results over several years in one of the most dynamic geographies in the emerging world. Our new model--a global bank for businesses and consumers--has been successfully implemented under his leadership in Latin America."

As for Dial, she leaves nearly two years after joining Citi as head of Citi's consumer banking and global head of consumer strategy. Dial lost some duties in July as part of a surprise reshuffling of top management. She remained responsible for the branch business, including anything from retail banking products and marketing to branch design.