As has been confirmed by the banking group, Citigroup Inc's Head of North American consumer-banking division, Teresa Dial, is all set to step down from her position for "personal reasons", and she will now become a senior advisor.

Her place will be taken by Manuel Medina-Mora, who will also continue to act as the Chairman and Chief Executive of the group's Latin American and Mexican operations. Also, he will also be taking over as the Chairman of Citi's very latest Consumer Council, at which Mr. Medina-Mora will take care of the bank's global consumer strategy and work in association with all regional CEOs.

"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", said Citi CEO Vikram Pandit.

Ms. Dial is leaving two years after she joined Citi as Chief of the group's consumer banking business and global head of consumer strategy.

During her tenure, Citi has said that the profitability of its American retail bank "improved through the acceleration of deposit growth, improvement in cross sell metrics, and a reduction of expenses".